NFT is the biggest catalyst for Ethereum since the birth of DeFi

Non-homogeneity pass card has become Ethernet Square, an important part. NFT is a unique Crypto token with many forms, which can store a piece of art or a music file digitally on the blockchain and is considered to be valuable.

A Crypto field researcher “Croissant ETH ” on Twitter pointed out that NFT may have made decentralized finance (DeFiI)Ethernet Square, one of the biggest catalyst occupies a leading position in the field of Crypto .

How does NFT do this? He believes that NFT brings liquidity and value to intangible assets. In other words, NFT makes it possible to plan the value of intangible assets. Croissant ETH introduced 10 use cases where NFT may reach the trillion-dollar level.

One of these industries is the media industry . Forbes, a multi-billion-dollar media company, is using NFT to allow readers to access their news in the Crypto field through an Ethereum-based paywall (reading barrier that only allows paying users to browse part of the website content) solution platform Unlock Protocol. Part of the ad-free website.

NFT also caused a sensation in the gaming industry. The programmability of any digital content as an NFT means that players can actively participate in building the games they play and get rewarded for their efforts . This model encourages all parties involved in the game, whether it is a company or a game player, to continuously build the game.

There are already many examples of successful NFT gaming platforms, including Sandbox , Vidya and Axie Infinity, where players are making real money for playing games. More game industry participants are also seeking and creating their own NFT platforms.

GameStop is a company that has recently gained fame because its stock has acquired meme stock status. At the time, retail investors bought it under the influence of social media and have been seeking to build an NFT platform.

The company’s NFT platform will help it bridge the gap between traditional business and the blockchain world. It is worth noting that the company cooperates with other gaming giants, including Hasbro, Xbox and other e-sports teams.

To build this platform, GameStop hired Jordan Holdberg, a developer and CEO of Hodlberg Financial Corporation, as its chief engineer.

Holdberg created Hodlberg NFT, which can combine all the user’s different wallet balances into a token without compromising the user’s privacy . If the company’s NFT platform integrates this feature, his participation will be very beneficial to GameStop.

In terms of NFT innovation, it is not just the media and gaming industries. NFT is also widely adopted in the sports industry. Sports teams and players minted and sold NFTs. A recent report by CoinGecko shows that in the $1 billion NFT market, sports NFTs are the most popular .

However, in addition to the fan favorite NFT, NFT also has other use cases in the sports field. NBA’s Brooklyn Blue Nets player Spenser Dinwiddie will sign a contract worth $34.4 million and establish NFT bonds. If his actions are successful, other players may follow suit, thereby promoting major investments in the platform.

In addition, content creators can also benefit from the programmability of NFTs because they will be able to reduce the presence of middlemen and avoid the participation of large companies that post content and earn more value for their creativity. This is especially true in the music industry. When this industry adopts Web3.0, the Ethereum blockchain may have huge growth.

NFT not only brings more programmability to intangible assets, but also brings these characteristics to tangible assets . Asprey, a jeweler with a long-standing relationship with the royal family, recently announced that it will use the NFT linked to each piece of jewelry to solve liquidity problems and confirm authenticity. Every piece of jewelry purchased from a jeweler now comes with an NFT.

In a similar operation, the Dallas Mavericks, a basketball club owned by billionaire Mark Cuban, also revealed plans to cast their tickets for NFT sales, so that they can be taxed on tickets sold in the secondary market. This move will solve the problem of fraud and prevent robots and scalpers from selling tickets at excessively high prices.

In addition, the use of NFT in metaverse and Ethereum Naming Service (ENS) is also very important.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nft-is-the-biggest-catalyst-for-ethereum-since-the-birth-of-defi/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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