How will NFTs disrupt different industries?

You’ve probably heard of NFTs in the context of strange art projects like the Bored Apes Yach Club or Crypto Punks. Much has already been written and discussed about how NFTs will impact industries centered around digital content. However, NFTs can also be a very disruptive tool for tokenization of real-world assets. What do I mean by “tokenization.” Tokenization means that we create a unique digital “token” to represent a unique real-world asset. In the same way a title to home or a vehicles represents that asset, however, NFT provide a lot more functionality than a title. An NFT can contain smart contracts, that is, code that gets executed when certain conditions are met. For example, when this token is sold, give the creator 10% of the sale proceeds. In this context, NFTs can fundamentally change the way commerce is conducted in many industries. For example:

Art and Collectibles: NFTs allow for the creation of unique, one-of-a-kind digital assets such as art, music, and videos that can be easily verified and traded on blockchain platforms. This opens up new opportunities for artists and collectors to monetize their work.

Gaming: NFTs are already being used in gaming to represent in-game items, such as weapons, clothing, and collectibles, that can be bought, sold, and traded. This creates new revenue streams for game developers and gives players more control over their virtual assets.

Real Estate: NFTs can be used to represent ownership of real-world assets such as property and land. This could lead to a more efficient and secure way to transfer and manage property ownership.

Sports: NFTs can be used to represent unique sports memorabilia, such as trading cards or limited-edition collectibles. This creates a new market for fans to own and trade pieces of sports history.

Ticketing and loyalty: NFTs can be used to create unique tickets to events, membership cards and loyalty cards. These tokens are the linked to entitlements such as access to an event or a facility.

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