Future of NFTs: All you Need to Know
The 20 Staple NFT Use Cases
1. Vertical Marketplaces
NFT Marketplaces will become more decentralized via governance tokens, revenue sharing and DAOs.
2. Personal Verification
NFTs can be utilized as a unique identification element. Ex. Passport, Driver’s License, Student ID etc…
3. Gated Communities
NFTs will serve as a token that can grant access to services, tutorials and other content. This will further develop tight knit communities.
4. Fractionalization
NFTs such as BAYC, Azuki, Doodles etc.. will be divided into individual shares. This lowers the barrier of entry financially and provides more liquidity.
5. Collateralization
Loans using ERC-721 tokens as collateral. It allows users to mortgage NFTs in exchange for various cryptocurrencies. Provides Liquidity and Flexibility.
6. GameFi
NFTs are an integral part of the GameFi ecosystem. We will see the rise of many more Blockchain games and Gaming Guilds.
7. Digital Wearables
NFTs can be used as wearables in the Metaverse. For instance, a brand can sell designer shoes as an NFT that can be seen in VR/XR.
8. Social Media
Utilizing the royalty feature of NFTs, creators on major social media platforms can now participate in the monetization of its users via revenue sharing.
9. NFT Indexes
People listing their NFTs via indexes will increase market liquidity and enhance community presence.
10. Contributor Rewards
Communities and/or Platforms will reward top contributors with NFTs. This incentivizes the community to actively participate and add value.
11. Charity
NFT communities have the ability to band together at light speed and raise millions of dollars. Much quicker than current alternative relief funds.
12. Record Verification
Documents such as Academic Credentials or a Medical License can be made into an NFT providing ultimate security and transparency.
13. Real Estate
Buying and selling real estate can be significantly easier via an NFT. Fractionalized NFTs of real estate also provide increased liquidity.
14. Customer Rewards
Reward NFTs prove that you took a certain action at a certain time. This NFT could provide future utility and/or benefits, creating an intimate community.
15. Tickets
NFT tickets provide a guarantee of authenticity. The built in royalty feature in NFTs will share earnings to the organizers from secondary market sales.
16. Virtual Land
NFTs can represent a plot of virtual land where you are free to build and operate. They can also represent digital homes and architecture.
17. Music
Music NFTs can be sold by Artists to fans. The fans will collect a revenue share of the album/song and receive other special benefits.
18. Advertising
Advertising NFTs will allow websites to sell NFTs that give people the right to certain media spots.
19. Physical Ownership
An NFT can represent ownership of an item in real life. For instance, an NFT could represent an artwork or collectible that will be delivered to you.
20. Logistics
NFTs can capture unique items and leverage blockchain’s immutability to facilitate logistics authentically and reliably. Allows for access of specific data.
TLDR:
The advent of NFT’s could change how we think about community and ownership, the same way the internet changed how we consider communication and commerce.
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