Whether through creation, collection or peddling, the number of big-name companies and participants embracing NFT seems to be increasing day by day, and the scope and creative ideas involved are getting wider and wider.
NFT is no longer a marginal thing on paper. In the first half of the development, art and collectibles NFT has become mainstream at an alarming rate, even more enthusiastic than cryptocurrency. The reason why NFT is so popular in the field of art collection There are many, the simplest reason is fit. Interesting, visual and culturally related are easy to understand, and technical application scenarios fit naturally.
I read a lot of NFT-related project materials, and communicated with relevant investors, founders, and sharers in depth. I found that some of these projects seem far-fetched, and even a little ridiculous. However, on the whole, they may change our production and lifestyles of spending and making money.
Today we will take stock of some NFT application projects that are in the early stage of development and may explode in the future.
Metaverse, also known as Metaverse, is the same as the high-tech + low-life cyberpunk. Metaverse is also one of people’s prospects for the future. It is also a super-large digital community that can map the real human social civilization to the game.
From the functional level, Metaverse is a platform that carries virtual activities, and users can carry out social and spiritual activities such as social interaction, entertainment, creation, education, and trading. Meta Universe provides us with rich consumption content, fair creation platform, reliable economic system, and immersive interactive experience. It can entrust people’s emotions and make us belong in a psychological sense. Make friends in the digital world by experiencing different content in the meta universe.
At the same time, in the world of Metaverse, we can also create our own works for social activities such as trading, education, and meetings. Metaverse is definitely not just a large-scale entertainment platform, but an upgrade and iteration of future Internet life.
Game assets are already digital assets in nature, so casting them as digital assets that individuals can own will bring more benefits. There are many game studios making games on the blockchain track, including publishing or minting game assets.
NFT is also completely changing the game world. Usually, the characters in the game will get tradable items like weapons, clothes, real estate, etc. Creating an NFT for each item can enable them to trade with points in the game or even real-world cash, which forms a virtual reality. Online digital economy system for commodities. These NFTs are stored on the blockchain, and their information, ownership, and all transaction records will be transparently disclosed, and cannot be destroyed and cannot be tampered with.
NFT allows games to separate assets and games, and activates the liquidity of chain game assets. NFT uses encryption to confirm the rights, realizing the true privatization of game items, and classifying them as the players’ ownership in the true sense. Even on this basis, assets can be traded anytime and anywhere, which protects users’ virtual assets compared to traditional centralized games.
Virtual land is a virtual world developed and owned by users. The 3D virtual space that can be visited is called land (LAND). NFT makes land transfer extremely easy without fraud. Each buyer or player can leave it idle for appreciation, or sell it at a high price in the market, or build it according to their own wishes, such as a virtual country or theme park, which can be created with unlimited imagination.
The virtual reality platform and NFT trading market based on blockchain technology combine the incentive system of virtual reality and the token rights mechanism, which is different from pure game points. It solves the problem of land secondary market transactions and virtual world through the design of land and tokens. Problems such as difficulties in the circulation of digital assets.
The main factor that affects the price of land is traffic. The closer the land is to the center, the more visitors and the greater the traffic, but the traffic is not static. Content creators can rely on creative design to gain traffic.
Fashionable wearable device
Luxury brands are now making great strides in the NFT field, and the integration of high-end fashion and blockchain has begun to set off a revolution in the fashion industry. This collection includes physical assets such as retail clothing and other accessories, as well as digital partners as NFTs. The combination of NFT technology and physical fashion has continuously launched rare and limited digital clothing series, which will soon surpass other projects in the industry in the future.
DeFi + NFT
The so-called DeFi, or Decentralized Finance, is called: decentralized finance or distributed finance. Decentralized finance refers to those applications in various financial fields developed in an open decentralized network. The goal is to establish a multi-level financial system based on blockchain technology and cryptocurrency to recreate and recreate Improve the existing financial system. Thousands of DeFi projects, such as insurance platforms, prediction markets, and identity authentication, all belong to the category of DeFi.
DeFi has made many outstanding changes in the crypto world. Its integration with NFT gives NFT credibility and has a huge impact on the instant liquidity of NFT. Decentralized finance has various advantages that benefit users.
The concept of NFT in DeFi makes NFT attractive and promotes the survival of NFT in exchanges and trade. DeFi enhances the exchangeability of NFTs, it helps to manage NFT transactions and maintain ownership and immutable transaction records in the NFT space. The NFT in DeFi has improved the development of all NFTs. DeFi will appear in all NFT development to help and improve the functions and scope of NFT development services.
We can apply NFT to identity authentication to record personal behavior. For example, obtaining a non-tradable NFT as a birth certificate, passport, and personal driver’s license, etc. Although the NFT is not tradable, interactive authentication of identity can be achieved through permission control.
For example, when recruiting, you can verify a person’s identity NFT to inquire about his college diploma, and apply to view the doctor’s identity information to verify his qualifications when seeing a doctor. Record all attributes and behavior history.
NFT can also be applied to the field of physical assets for digitization, such as real estate. For example, if I have a house that I want to chain, I will use the NFT to identify the owner of the house as me, and the registration and sale of the house is issued on the chain through NFT, and my NFT is projected to transform and confirm the right. Compared with traditional assets, NFT assets have higher liquidity. In reality, it usually takes more than ten days to complete the change of real estate. However, through the identification of NFT assets, the transfer of assets can be realized in a few seconds.
Art Encrypted Collectibles
Encrypted collectibles designed based on NFT can save contracts, copyrights, patents and other information that need to be stored on the blockchain in the form of NTF, which is convenient for subsequent updates, circulation, and transactions.
When the owner of the collection wants to sell, he only needs to issue the NFT mark information to declare the authenticity of the work and the ownership of the work. At the same time, this certification is digitally traceable, because the ownership of the art assets is recorded in the district. On the block chain, while ensuring the legitimacy of transactions, it can also prevent forgery and fraud of artworks.
Art charity, public welfare
Creators and artists can raise funds for charity by auctioning NFTs. NFT organizations unite to create on-chain funds to fund public welfare undertakings. NFT creators can pledge part of their NFT auction proceeds to such funds, and when the NFT is sold, the proceeds will be paid automatically. When NFT creators want to raise funds for some reason, the use of funds can be completely open and transparent.
As we all know, digital media can be copied, shared, and stolen: seed downloads and audio source leaks undoubtedly cut the profits of the entire music industry and threaten traditional distribution and monetization models. By investing in NFT, creators, curators, gallerists and other stakeholders in the music industry are trying to create and capture the value of “digital scarcity.”
The value of an NFT song is not only its sound, but allows consumers to have unique ownership of the song file, and transfer ownership directly from the artist to the buyer through the blockchain.
The most important thing for the development of sports NFT is to gain the consensus of the fan community, so the large base of sports IP fans is the most important factor in the development of sports NFT at present. This type of NFT only needs to be authorized and develop sports NFT products. The advantage of sports NFT is that there is already a fixed fan base. The greater the number of fans, the greater the possibility that the blockchain will monetize existing fans from the original field.
The value of sports NFT has a strong content media attribute, and the audience’s acceptance of the NFT is the same as that of IP in real life. For example, realistic characters such as football players, basketball players and other idol stars. The acceptance and pursuit of IP and idols by users and fans will attract more capital’s attention. The fan economy is thus formed, thereby further shaping a business model that can generate economic benefits.
Blockchain technology is also useful in the logistics industry, especially because of its immutability and transparency. These aspects ensure the authenticity and reliability of supply chain data. For food, commodities, and other perishable goods, it is important to know where they have been and how long they have stayed.
NFT also has the added benefit of representing unique items. We can use an NFT to track a product. The NFT contains metadata about the product’s birth, origin, journey, and warehouse location.
In the future, we may see more NFT product search engines. Both Amazon and Etsy already have many shopkeepers selling collectibles. In the future, these platforms may support NFT product search. In the future, the existing NFT market will also add more complex search, discovery and recommendation functions.
The once seemingly niche NFT ecosystem emerged from a small encrypted community and gradually became a participant in many industries such as finance, art, sports, entertainment, and games.
The wide application of blockchain will also give a wide range of development space in the future. Now we are enjoying the largest transfer of wealth in human history and looking forward to a new life in the future era.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/the-nft-application-direction-most-likely-to-become-mainstream-in-the-future/
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