Beyond Art, What are the use case of NFTs

[casey15]

Hello Bitcointalkers
I believe we are all very familiar with NFTs ... When you hear about it, we often think about digital art, JPEGs and collectibles. NFT has become something of global recognition and many Nigerians have used it to make Monday and gain reputation...  I remember a few years back when a Corper made an NFT from a picture he took of an old man in his PPA and used it to gain some money that he used to support the man...

 Just like crypto currency, I feel NFT has more use case than just selling and collection.. I am of the opinion that as technology advances, NFT may come to have a real life use beyond art collections... Here are some of my opinions:

1. Property and Real estate: I fell we can use NFTs in the future to represent and to securely transfer ownership of properties.. this could help with transparency and prevention of fraud.. It can be used as a digital evidenced/proof to ownership of a property...

2. Identity and credentials: Imagine the use of NFTs To represent a professional certificate, identity or record... This will literally make verification easy and secure.

3. Intellectual copyright: For artists, musicians and creators of all kind, NFTs could serve as an onchain record of intellectual property making it more easier to prove ownership and collect royalties...

I may be wrong but these are just a few things I thought about.... I would really love to hear your opinion if these can be possible in the nearest future.. and what other use case do you think can also be practical for NFTs..

[Felicity_Tide]

~snip

I may be wrong but these are just a few things I thought about.... I would really love to hear your opinion if these can be possible in the nearest future.. and what other use case do you think can also be practical for NFTs..

Nice thread OP.
The points you've mentioned are indeed the actual fact about NFTs, or should I say, they were supposed to be the future potentials of NFTs in th eco system at large, but the honest truth is, NFTs have lost its place. People's interest has shifted from NTF, as there are no much demands in that area compared to what we have in 2021 and the years before.

Of course, NFTs might fulfill these potentials, but I just feel that the majority has moved on. People barely even talk about them these days...

[casey15]

~snip

I may be wrong but these are just a few things I thought about.... I would really love to hear your opinion if these can be possible in the nearest future.. and what other use case do you think can also be practical for NFTs..

Nice thread OP.
The points you've mentioned are indeed the actual fact about NFTs, or should I say, they were supposed to be the future potentials of NFTs in th eco system at large, but the honest truth is, NFTs have lost its place. People's interest has shifted from NTF, as there are no much demands in that area compared to what we have in 2021 and the years before.

Of course, NFTs might fulfill these potentials, but I just feel that the majority has moved on. People barely even talk about them these days...

I did think about that too... I feel right now people are more geared towards what will bring in money and not necessarily focusing on potential anymore... And with the rise of memecoins, people see them as a means to make more more thereby abandoning NFTs

[SatoPrincess]

Are NFTs still a thing? I can’t remember the last time I heard about NFTs, I think the hype has died down compared to 2021 when NFTs were booming like crazy. A lot of people made money from NFTs and most in that time didn’t care about the use cases they were only concerned about the profits attached to them.

[Mia Chloe]

The points you've mentioned are indeed the actual fact about NFTs, or should I say, they were supposed to be the future potentials of NFTs in th eco system at large, but the honest truth is, NFTs have lost its place.

Nfts were most popular when the Ethereum network began to grow bigger. It was more of a store of value quite similar to buying a meme and it's price or market value depends on the level and intensity of hype it's able to attain. The problem was gradually as meme launching became easier and more prominent, NFTs gradually faded off.

Intellectual copyright: For artists, musicians and creators of all kind, NFTs could serve as an onchain record of intellectual property making it more easier to prove ownership and collect royalties...

Yeah but the catch is if the NFT isn't hyped it will likely have no value and the next value depends on the ask and bid prices. NFTs are still out there but they are not hype much like they were back in the day.

[BoomBits]

The points you've mentioned are indeed the actual fact about NFTs, or should I say, they were supposed to be the future potentials of NFTs in th eco system at large, but the honest truth is, NFTs have lost its place.

Nfts were most popular when the Ethereum network began to grow bigger. It was more of a store of value quite similar to buying a meme and it's price or market value depends on the level and intensity of hype it's able to attain. The problem was gradually as meme launching became easier and more prominent, NFTs gradually faded off.

Intellectual copyright: For artists, musicians and creators of all kind, NFTs could serve as an onchain record of intellectual property making it more easier to prove ownership and collect royalties...

Yeah but the catch is if the NFT isn't hyped it will likely have no value and the next value depends on the ask and bid prices. NFTs are still out there but they are not hype much like they were back in the day.

I have read about NFTs before, what I saw about them is that they are digital things like digital arts. If people use their simple brain, the arts that sold most are common people in the past that are well known to this world while other arts are not selling at high prices like that, that is how digital arts will be and that is how they are now today. Most arts will have low price but some will sell at high price, while there are few ones that will sell at highest prices but they will belong to people like well known politicians and well known people.

[Amphenomenon]

Are NFTs still a thing? I can’t remember the last time I heard about NFTs, I think the hype has died down compared to 2021 when NFTs were booming like crazy. A lot of people made money from NFTs and most in that time didn’t care about the use cases they were only concerned about the profits attached to them.

Like you said a lot of people were only concerned about making money and do definitely the hype will die down nut that doesn't mean they still do not use them.

As Op stated, those can be the key use of NFT while the hype has die down it's still being use for such.