NFTs in the Real World

[uneng]

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected. NFTs have only worked for a while and due to hype. It was never about unique, original, practical and functional usecase and even if the hype resurges, it doesn't look like it's going to work for another reasons besides more temporary hype.

Every features NFTs offer to adopters can be achieved through another ways. They aren't necessary, neither accessible to the public.

Like a private club access.   Then there is timing certain real world asset ownership to them.  Proof of ownership will be conveyed with a corresponding nft.

Yes, that could be a real usecase, but why would people seal deals through NFTs, if they can already do it traditionally using physical papers and contracts? Maybe if it decreased the bureaucracy with notary's office in the process it would make sense to adopt NFTs for this reason. Anyway, clubs memberships are not that popular nowadays, especially among the younger generations which are more connected to crypto technology. So the impact must be almost null on the bigger picture.

[o48o]

I still don't understand why a .jpg extension image is so hyped. The hype is not even dried down in 2023 as earlier it was being speculated that NFTs won't be in business for long term. I did not follow any projects when it came in existence and I am not following any project now. My friends are still into NFT and as per their saying its hype won't go down. Not sure about the real world usage.

It's not about jpgs. NTFs and represent anything. A contract, part of code (like they already do with uniswap v3 LP), or even real world assets. Just like numbers on the screen of your investment bank can represent your bank balance and shares you have invested to. NFTs can do that with tokens you can store without any centralized service holding them. And whiile i am very skeptical about this tech and, there are lots of hurdles, especially with real world assets and ownership rights. Still i must admit, once we can (if we can) tackle those, there are no limits on what they can represent.

[JeffBrad12]

I still don't understand why a .jpg extension image is so hyped. The hype is not even dried down in 2023 as earlier it was being speculated that NFTs won't be in business for long term. I did not follow any projects when it came in existence and I am not following any project now. My friends are still into NFT and as per their saying its hype won't go down. Not sure about the real world usage.

It's not about jpgs. NTFs and represent anything. A contract, part of code (like they already do with uniswap v3 LP), or even real world assets. Just like numbers on the screen of your investment bank can represent your bank balance and shares you have invested to. NFTs can do that with tokens you can store without any centralized service holding them. And whiile i am very skeptical about this tech and, there are lots of hurdles, especially with real world assets and ownership rights. Still i must admit, once we can (if we can) tackle those, there are no limits on what they can represent.

thats true NFT is just a piece of technology with general purpose of presenting something unique sort of identifier for unique posession of a thing quite frankly it could represent real world thing like land and so on.
the thing with NFT art that heavily associate itself with NFT technology is that its taking advantage of the term just for the sake of marketing it tries to attract as much attention as they can and try to look techy but we all know that under the hood these NFT art are just some money game and could potentially give bad reputation toward the real use case of NFT.
in my opinion we can grow NFT to have real use case to solve real world problem its just that some use case haven't found yet or not implemented yet I mean we could be using NFT technology for manufaturer to give unique identifier to each of their product to keep themselves from being cloned by random fake goods manufacturer.

[deathcode]

NFT? Aren't they dead? Well, I don't see NFT as a proper way of investment. Instead, I see them as a trend that has game and gone after some time leaving people with nothing. There was a hype at the beginning but right now I don't see much movement in the NFT market.
So them coming back for making a change or impact in the market seems like a fairy tale. The Golden era of NFT has died and I don't think it will ever come back. And it is also hard to make real life NFTs. You cannot input blockchain data in real life object. They can be cloned or copied so there's no way for a proper validation.

maybe it looks dead. but maybe it will rise in the future. As long as there is a community that brings it to life, their market will be formed. they're still around and it's entirely possible to build hype again. and when it becomes popular again, the market will breathe again.
there will still be those who come with hype and then sink. and maybe the situation will continue like that.

[Bushdark]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

The impact of NFT in the digital world is very massive and there is nothing we can do rather than to keep watching and investing if we are interested in investing in NFT market. 5here are people that had made more from the NFT market and there is still more that had lost their funds due to crash of different projects especially those ones that and lost greatly from the market.
Any investment we intend to put our money, there is need for us to watch and do a little research since we are making financial decisions.

[fat buddah]

The only real use for NFTs I've seen is a backpack that has a screen with NFTs. But you can do that with regular pictures.

[deepblue01]

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

[zasad@]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

I still don’t see any real and widespread use of NFTs. Sometimes I look at statistics
https://www.cryptoslam.io/
And the NFT collections in this list are constantly updated, but a lot of NFT tokens become useless garbage and pain for beginners who bought them very expensive.
The previously popular Bored Ape Yacht Club and CryptoPunks now have low liquidity. The influx of new hamsters has dried up and sales statistics are low.

[tjtonmoy]

maybe it looks dead. but maybe it will rise in the future. As long as there is a community that brings it to life, their market will be formed. they're still around and it's entirely possible to build hype again. and when it becomes popular again, the market will breathe again.
there will still be those who come with hype and then sink. and maybe the situation will continue like that.

I'm not so sure about that tho. I don't think this NFT hype will ever occur. We have seen many price pumps and dumps recently in the market, yet no one is talking about NFTs anymore. They can not take back the hype in the market. Those who have already invested in NFTs are keeping their money in it thus still the high price. If they start to sell, there will be no value and they can't sell. No one is offering anything for those NFTs.
There was a wave of NFT and not it has gone away.
Can't tell what the future holds for us. Maybe you are right or maybe I am right. We can only just predict what might happen.

[Ben Barubal]

  Well, as far as I know, whether we like it or not, NFT is really part of the cryptocurrency business industry. Because it still has a contribution to make to the market in the crypto space. Then there are still NFT lovers who enjoy it, even if we say it's a worthless investment.

  And it's true that the fight there is just manipulation, and it depends on the buyers, especially if the investors are well-known celebrities. It can quickly persuade investors to buy even if they don't think about it carefully or have zero knowledge about it.

[o48o]

It's not about jpgs. NTFs and represent anything. A contract, part of code (like they already do with uniswap v3 LP), or even real world assets. Just like numbers on the screen of your investment bank can represent your bank balance and shares you have invested to. NFTs can do that with tokens you can store without any centralized service holding them. And whiile i am very skeptical about this tech and, there are lots of hurdles, especially with real world assets and ownership rights. Still i must admit, once we can (if we can) tackle those, there are no limits on what they can represent.

thats true NFT is just a piece of technology with general purpose of presenting something unique sort of identifier for unique posession of a thing quite frankly it could represent real world thing like land and so on.
the thing with NFT art that heavily associate itself with NFT technology is that its taking advantage of the term just for the sake of marketing it tries to attract as much attention as they can and try to look techy but we all know that under the hood these NFT art are just some money game and could potentially give bad reputation toward the real use case of NFT.
in my opinion we can grow NFT to have real use case to solve real world problem its just that some use case haven't found yet or not implemented yet I mean we could be using NFT technology for manufaturer to give unique identifier to each of their product to keep themselves from being cloned by random fake goods manufacturer.

Well, bad reputation always happens no matter what the tech is. When internet came, press was foaming that there are instructions on how to make a bomb and things like anarchist cookbook was the fear of the month. They came up the concept "internet bomb" and made fud articles when ever someone did something illegal that "did they read the instructions from the internet?"

Now in same way NFTs are associated with a scam, ironically also by the same people (altcoin holders) that were defending crypto use cases to people who were associating cryptocurrencies as a concept with a scam.

[Dunamisx]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

Let's forget about the way people use to talk badly about non fungible tokens, the truth is that they cannot be eradicated, but we have to give a closer attention to what impact have they brought to the crypto community at large, how many cryptopreneurs had benefited from them and how their roles and use have made the cryptocurrency markets become more voluminous in adoption and profitability for the benefits of their investors.

[Sayeds56]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

Non-fungible tokens (NFT) have captured the attention of masses in crypto currencies by establishing their real life use case in areas such as digital art, games, music and videos and  avatars. While, transaction fees for creating or trading NFTs are usually higher on Ethereum network, that has been poplar platform for creating NFTs, alternative networks in particular Solana emerged with nominal transaction fees. The outlook of NFT market is promising as developers continue to explore and develop innovative use cases for these tokens.

[God bless u]

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

this is just a way to promote that toy brand. those NFTS still don't have any real world use. I don't think this is the right way to give NFTs a real-life utility. you need to find something else man.

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

I still don’t see any real and widespread use of NFTs. Sometimes I look at statistics
https://www.cryptoslam.io/
And the NFT collections in this list are constantly updated, but a lot of NFT tokens become useless garbage and pain for beginners who bought them very expensive.
The previously popular Bored Ape Yacht Club and CryptoPunks now have low liquidity. The influx of new hamsters has dried up and sales statistics are low.

Yeah, it is very sad for those newbie NFT buyers who bought these NFTS in hope of earning big cash. but end up loosing all their investment. while the NFT creaters made $millions of dollars worth of money selling those useless Gifs to people.
but what is more sad is that there are still a lot of people willing to buy these type of NFTs which have no utility. and will probaly become worthless again.

[uneng]

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

It seems to have been heavily inspired by the popular former online game Club Penguin, plus 'bored apes' NFT project fiasco.

"Pudgyworld" is pretty raw yet, but at least the game already exists, unlike other scammy NFT projects:

It's an example of NFT introduced to gaming industry, like I said earlier. In this category, I believe NFTs have a real impact and can be useful, although here it's just a marketing strategy to sell expensive physical toys. In every cases, I wouldn't invest anything on this project yet, because it's not entirely developed yet. We have already seen and even trusted many raw projects which didn't deliver anything consistent after all. Must be careful with this. To be alive and under development since 2021, the project is too backward.

[Sophokles]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

Let's forget about the way people use to talk badly about non fungible tokens, the truth is that they cannot be eradicated, but we have to give a closer attention to what impact have they brought to the crypto community at large, how many cryptopreneurs had benefited from them and how their roles and use have made the cryptocurrency markets become more voluminous in adoption and profitability for the benefits of their investors.

NFT has real potential to be associated with real-world asset but at present it is mostly consisting of scam projects and rug pulls. Its current volume is nowhere near where it was before. To prove ownership of a certain product or membership NFT is irreplaceable. There isn't much hype about NFT's right now and that can be the reason that developers are more interested in building dapps for the Layer 2 project than building something unique by using NFT technologies.

[wxa7115]

NFT has real potential to be associated with real-world asset but at present it is mostly consisting of scam projects and rug pulls. Its current volume is nowhere near where it was before. To prove ownership of a certain product or membership NFT is irreplaceable. There isn't much hype about NFT's right now and that can be the reason that developers are more interested in building dapps for the Layer 2 project than building something unique by using NFT technologies.

NFTs had the potential to become way more than what they became, but scammers and greedy people thinking about making a quick buck ruined it like they always do.

Since instead of getting artists that worked with a digital medium to release their works as NFTs and allow collectors to have a way to own those works, people began releasing all kind of uninspired images and works, with some of them being just the product of an AI or works which were created by other artists, so very quickly the market became synonymous of scammers and the interest in it faded very quickly.

[el kaka22]

This is not going to happen anytime soon. I understand that people are a lot more excited about this, but the reality is that we are not going to see it grow even within crypto community again. If you look at the prices of NFT's, it has dropped significantly more than most big name coins, take the biggest for example, bitcoin and it's down like 30-40% right now from ATH price right now, calculate the NFT's and you will see that most of them are either fully gone or 90%+ gone, not many exists that still that close to their ATH as well.

I believe that we are going to see NFT get some more attention when the new bull starts, but that's just one situation and I do not think that it would stop anytime soon, we are going to end up seeing it not really be a big deal just yet. We should consider the situation as temporary and not invest into them when they go up. When it comes to other industries, NFT is just ignored, even mocked and not going to be used anywhere else.

[deepblue01]

Now in same way NFTs are associated with a scam, ironically also by the same people (altcoin holders) that were defending crypto use cases to people who were associating cryptocurrencies as a concept with a scam.

I remember that ico projects used to be called scams. now the trend changed when nft appeared, I am not surprised to see this phenomenon.
in fact that perspective already existed in the past

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

this is just a way to promote that toy brand. those NFTS still don't have any real world use. I don't think this is the right way to give NFTs a real-life utility. you need to find something else man.

My point is not about how to change people mind about NFTs. To be honest i never buy any NFTs so i don't have bad memory about NFT.
Btw i don't get what you think even i'm confused about what you expect. NFT is always on the internet man even most cryptocurrency right now doesn't a real-life utillity

It's an example of NFT introduced to gaming industry, like I said earlier. In this category, I believe NFTs have a real impact and can be useful, although here it's just a marketing strategy to sell expensive physical toys. In every cases, I wouldn't invest anything on this project yet, because it's not entirely developed yet. We have already seen and even trusted many raw projects which didn't deliver anything consistent after all. Must be careful with this. To be alive and under development since 2021, the project is too backward.

It's not like crypto that people can invest in. it's just a normal business without any tokens/coins to list on exchanges that people can speculate on

[icalical]

NFTs have taken the digital world by storm.

After they've taken the world by storm, they've been also taken away by the storm in a split second.

LOL this is so true, most people who are still hyping NFT is people who already put much of their money onto NFT and hoping for new people to deposit more money so they can get their money back.


If the NFT community doesn't do significant improvement, NFT will eventually actually dead.

The best use for NFT is definitely in-game item trading, and to be honest there is not many usage of NFT in the real-world. However I think there is one usage for NFT that hasn't been much explored, it's for digital music streaming/owning. Currently the main industry for streaming is spotify which is actually not earn much profit from music for both Musician and the spotify itself (most of their profit are from podcast). I think NFT could fill this hole in streaming music industry with right formula.