Building on NFTs: Building A Brand Amidst the Crypto Winner
By Space Coast Daily // July 18, 2022
NFTs are perhaps the most misunderstood and underappreciated piece of technology out there. From artworks to crypto domain, many people often dismiss NFTs – believing that their utility has been maxed out and they can no longer provide anything meaningful to society.
This is definitely not the case. NFTs have a game-changing utility that people just don’t realize. Even amidst this crypto winter, we indeed expect the value of NFT projects to rise -making them an excellent investment.
3 Industries That NFTs will Change Forever
Aside from the everyday things that your cryptocurrency can buy you, they can also serve as legitimate investments for future use. Here are some of the industries that you may look to invest in:
1. Gaming
The gaming industry has been absolutely booming for the past 2 decades. It’s the absolute perfect target for NFTs as this is the booming sector for NFTs. In the gaming industry, games are designed to tokenize the rewards system of the game to include points, credits, etc.
The NFT tokens in the gaming industry are all easily exchangeable, offering true ownership of the player’s digital assets in a particular game. From gaming items to points, get to experience everything with true ownership through NFTs.
2. Entertainment
NFTs have impacted the Fashion world by benefiting supply chain participants. The end-users can verify the information regarding the ownership of items and accessories to reduce the risk of fraud. You may, for example, scan QR code on the price tags of the purchased apparel and accessories in the form of NFTs.
In the realm of sports, for example, NFTs have made it such that you can now buy your favourite player’s cards or moments to immortalize it forever. There are thousands of different ways that you could employ NFTs into the entertainment industry. From ticketing systems to visual and virtual representations of how your clothes would fit you, NFTs have a wide array of applications and utility that people have found out – but also a lot more left untapped.
3. The Internet Of Things
On a much grander and wider scale, the Internet of Things has been massively impacted by NFTs. Domain names, for example, allow for one to tokenize their domain names and treat it like real-world assets – for fractionalization, investing, and licensing. Treat it like real-time assets like land, cars, and certificates. Invest in things, create utility, and buy NFTs in different ways.
