In recent years, NFTs have gained a lot of footing in the cryptocurrency and blockchain industry. Most individuals and businesses are making efforts in preparing their own NFTs.

As a result, if you've been researching blockchain, you'll probably come across the term tokens and non-fungible tokens (NFT). NFTs are the digital tokens of virtual and real-world assets. Before NFTs, creating a digital deficiency of assets was quite difficult; however, with the advancement of technology, NFTs continue to be the abundant instruments for creating digital assets, monetization of mental property. NFT has also been considered the efficient method for the business the authenticity of physical assets over the blockchain.

To reflect the actual potential of NFTs, we have come up with some real-world use cases to let understand NFTs comprehensively.

1. NFTs as an Art :

Earlier, content floats freely over the internet and it was quite tough to verify the ownership and proft then. Thanks to NFT, now it's now possible, NFTs allow digital assets verifiable deficiency and original ownership. NFTs can identify them, even if it's fake art in actuality.

2. NFTs in the Gaming World :

While much of the recent attention is grabbed by martial arts styles and collectibles, there so no other industry than gaming where NFT makes most of the sense. Gaming has a huge demand for unique items that are tradable and purchasable. Their rarity directly affects their price, even micro-transactions have created multi-billion dollar gaming industries to give you access to NFT and blockchain technology.

3. Fashion and Wearable :

Luxury lifestyle brands are now emerging into the NFT space. The blend of fashion and blockchain has commenced the innovation in the fashion industry. blur nft The real-world clothing and other accessories along with their digital companions as NFTs are unveiling the new distinct digital apparel that will soon overtake industry enthusiasts.

4. Real estate :

NFT has empowered the selling of digital real state in both virtual as well as the real-world. Real estate transactions involve layers of intermediaries from estate agents and banks to notaries and solicitor, all escalating the cost of transactions that otherwise should be simply between two parties.

NFTs are replacing these intermediaries via smart contracts, allowing simple and safe transfer of ownership.

5. Music NFTs :

NFTs are also making huge lake in the industry. Like image and video files, musicians are attaching their audio pieces to NFTs and creating a collectible joint of music. For instance, Viromusic has launched an exciting NFT number of songs containing 10, 000 unique songs constructed with virus codes themselves.

Real-life Examples of NFT Use Cases

Coca Coca-cola

Coca-Cola is one of the giant refreshment brands that have recently entered the NFT world. The company has submerged into the NFT world by providing the rare vintage coca-cola bottle as NFT and successfully collected more than $575K in an online auction.

IP NFTs

NFTs are a great way of protecting mental properties and patents. One of the most recent and popular use cases of IP NFTs is the collaboration between IPwe and IBM for altering corporate patents. This collaboration aims at bringing a natural environment for the tokenization of patents to make commercialization, licensing and sales of patents easier.

Brainchild NFT

Brainchild is bringing digital world objects into actuality. Brainchild has started their NFT project Brainchild NFT in 2021 and is planning to launch its first-ever luxurious NFT collection called "Ethclocks" in Jan 2022. Brainchild in collaboration with promising artists and design studios created the number of 5, 000 luxurious clocks. These Ethclocks will be physically redeemable which means, along with the digital contract, the purchase of Ethclocks will provide the individual an option to get their Ethclocks delivered to their house. Additionally, Brainchild provides NFT slots with membership to their private community where members pick up access to several events and receive advantages in the future mints.

Brainchild NFT is another real-world use case of NFT. Brainchild is providing the 5, 000 collectible luxurious clocks as NFT. These clocks are gamified and can be redeemable for physical clocks, thereby connecting the distance between the physical and metaphysical world. This project is still under work but will be live by late Jan 2022.

Digital Fashion

One more example of real-life NFT is the use cases of digital fashion NFTs. The apparel giant Nike acquired virtual shoe company RTFKT dojo auctioned an electronic digital jacket for more than $125, 000 USD. In 2019, another fashion brand, The Fabricant issued its first digital-only dress "Iridescence Dress".

Final Words:

These live examples of NFT use cases that show how NFTs have introduced productive improvements across different sectors. However, these are just a few; there are many use cases that are still in their infancy. But now it's is proved that now just games but the folks who are going about their daily lives will also benefit from this.