NFTs in the Real World

[fapar]

It depends on how the digital world embraces the technology and whether people will approve the usage of NFTs in different sectors of life. If we talk from a trading perspective which is buying and selling NFTs for a profit, I would say it has already failed in that area because we have seen hundreds of NFT projects not performing up to the expectations of people who bought them thinking they can sell them for a higher value but they dropped in value significantly. One example of that is the Cristiano Ronaldo NFT collection which caused its investors to sue the football celebrity for the failed NFT collection.

However, NFT can have use cases in various real-life sectors where it can be used as a way to store and exchange value as a form of digital collectibles such as schools, hospitals, offices, and many other places where NFTs can be used to provide certain accesses and stuff based on what NFTs different people own in their wallets.

I see more promise in the idea of ​​using NFTs as a utilitarian product. For example, any types of tickets that do not require identification confirmation, or use as a discount system. You can even remember NFT sneakers and Stepn. But so far all this can be realized from paper or plastic, few people will use NFTs and blockchain technology in general.

[ItsCrafty]

About NFT I would like to say that NFT is such a fungible token that it may be used in the real world in the future.
but currently its use is very less and still we see. Currently, all these crypto projects are airdrops, etc. NFTs are playing a special role, most of which are in Airdrop, in which NFTs have been received and is given a very huge amount and that he has to complete that task then team giveaways form of  NFT.
 so in this way it can also be in real world that NFT perform a great value in real world.

[wxa7115]

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.

I've always wondered about the essence of NFT projects as investment in the long, I've never been a part of any of their communities because I really don't understand their vision, all I see is their focuses on games and arts. I guess they'd have to sale a masterpiece to a very rich art enthusiast or a celebrity to earn their tokens, my concern is that the art piece can be duplicated and anybody can have it, except the buyer keeps the original. I'll agree with you that NFT is a trend, and if they don't add any new innovations, then they're as good as dead, with investors funds going down with them. I don't know much about NFT so don't take my words as facts.

The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.

NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.

[dlightag]

We are going into the era of technology where digital assets has value and recommend across the globe, which is NFTs is the real world of digital assets that is going to explore the world in the near future.

[shinratensei_]

I see more promise in the idea of ​​using NFTs as a utilitarian product. For example, any types of tickets that do not require identification confirmation, or use as a discount system. You can even remember NFT sneakers and Stepn. But so far all this can be realized from paper or plastic, few people will use NFTs and blockchain technology in general.

thats the most plausible use of technology and apparently the most realistic use of the technology but it seems not that much of people use the technology for that purpose yet, i don't know what the cause whether they are not interested because its too complex or something. but if there's any real use case for NFT technology, its definitely one of them not the effort of hyperinflating the value of certain NFT art in the market which right now has shown to be failing mess.
right now though so many project are utilizing NFT for identification for airdrop and something like that and it worked really well, even the owner of the NFT can move around selling that eligibility identifier of an airdrop, imagine if ticketing also using NFT and we can just resell the ticket if we can't attend the concert and so on it would be awesome but i'm guessing that we're still too far from such technology being used massively across many events and concert.

[uneng]

I might be missing out the point here. It's a physical toy. It doesn't have any need for nft. I mean what would i even with do with the NFT token in here? If i trade it, it's still connected to my physical toy. Why would anyone want it or why it would have any value without the physical object? Is it supposed to be just a proof of authenticity? I think it's an overkill in every way. And are we supposed to trade these toys by mail and just trust the buyer or seller? And if the private key gets lost, i am guessing that the physical toy wouldn't have any value.

Probably the NFT usage would be its introduction to the game they are developing... So the NFT represents your avatar or skin in the game. At least, that is what I understood. If it's not the case, then this NFT has no reason to exist at all. I think it must be pretty possible to trade the NFT without trading the physical toy within it. To tie both things wouldn't make sense from a commercial point of view, since it totally nukes international trades, and considering crypto industry works in global scale, bringing the whole world together, it would be out of the way for someone in US to sell the NFT to someone in India, for an example.

[cakravothy]

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!

NFT ussualy only picture product. not gaming industri.
most people don't like NFTs because if you buy it, selling it again is difficult. it's different from coins that already have a market. whenever you need money, you can immediately sell the coins and become money. you can use it all the time. if NFTs are only for hobbies in the art world, for example, photo images. or fans of a character so they want to buy NFTs.

[Chessperson]

You have many interesting use-cases around loyalty programs - from big companies to really small ones

[GreenStox]

I think the crypto market will be filled with very large funds later after Bitcoin ETF is accepted and, all crypto sectors will rise again. This will happen after all global issues decline.
My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.

[MIner1448]

I agree with you, NFTs are pushing the boundaries of what is possible, bringing innovation to various industries. They bring uniqueness to the digital world and have the potential to transform not only art and gaming, but other fields as well, providing new ways to interact and create value.

[fapar]

I see more promise in the idea of ​​using NFTs as a utilitarian product. For example, any types of tickets that do not require identification confirmation, or use as a discount system. You can even remember NFT sneakers and Stepn. But so far all this can be realized from paper or plastic, few people will use NFTs and blockchain technology in general.

thats the most plausible use of technology and apparently the most realistic use of the technology but it seems not that much of people use the technology for that purpose yet, i don't know what the cause whether they are not interested because its too complex or something. but if there's any real use case for NFT technology, its definitely one of them not the effort of hyperinflating the value of certain NFT art in the market which right now has shown to be failing mess.

The popularity of a particular technology (product, service, etc.) depends on the “foundation/platform” on which it is applied. I would even say means of delivering technology. The more accessible the platform, the more users will use it. In our everyday life, such a platform is the smartphone. Electronic tickets for transport no longer surprise anyone. For an analogy, I will give an example that happened in 2020 during the COVID-19 pandemic. Under the slogan of fighting the virus, in our region, public transport has been switched to contactless payment methods (NFC) everywhere. In one year, more than half of passengers switched to this method of paying for travel; now this percentage has increased to 95 - these are personal observations. The same should be true for utilitarian NFTs.

right now though so many project are utilizing NFT for identification for airdrop and something like that and it worked really well, even the owner of the NFT can move around selling that eligibility identifier of an airdrop, imagine if ticketing also using NFT and we can just resell the ticket if we can't attend the concert and so on it would be awesome but i'm guessing that we're still too far from such technology being used massively across many events and concert.

This will depend on the issuer of such NFTs. Some of them will use soulbound tokens (SBT).

[JeffBrad12]

I think the crypto market will be filled with very large funds later after Bitcoin ETF is accepted and, all crypto sectors will rise again. This will happen after all global issues decline.
My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.

BTC ETF is already accepted though, but its not really giving significant increase maybe because the rumour is already out for so long that people are already anticipating it basically buying it earlier and therefore buy the rumour sell the news and as a result, the not so significant increase is happening but overall considering the rumour was already helping bitcoin massively in getting the price right now still appreciate it, in the future though we definitely will see something of a more positive trend considering that ETF already approved meaning there will be so much more capital flowing into bitcoin as an investment.
if its NFT, what i anticipated definitely is the Ethereum ETF there are rumour that some big investment companies has started to propose the ethereum ETF and it will definitely massively affect some tech that are built on top of EVM like these NFT technology.
but well that just speculation on my end, we will see something in the future I guess.

[kentrolla]

I agree with you, NFTs are pushing the boundaries of what is possible, bringing innovation to various industries. They bring uniqueness to the digital world and have the potential to transform not only art and gaming, but other fields as well, providing new ways to interact and create value.

How does NFT contributes towards the innovation? I haven't seen any useful real life use of NFT because it's nothing more than just an digital art which has been leveraged by the whales and some celebrities to hype and sell it. Just look back and see the celebrities like Cristina Ronaldo and Logan Paul are facing lawsuit due to these NFT's and it's endorsement. I am sorry this is not meant to disrespect you but as per my opinion I haven't seen it being useful in real life and if you have seen any uses do let me know.

[ndutndut]

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!

NFT ussualy only picture product. not gaming industri.
most people don't like NFTs because if you buy it, selling it again is difficult. it's different from coins that already have a market. whenever you need money, you can immediately sell the coins and become money. you can use it all the time. if NFTs are only for hobbies in the art world, for example, photo images. or fans of a character so they want to buy NFTs.

So it could be interpreted that NFTs are not good for investment, especially for long-term investment. I myself am not interested in NFTs even though many say this is a very good investment if you enter the gaming industry. Several times I have seen that NFTs can be expensive because of FOMO, and those who buy them pretend to be an "investment" even though they are also carried away by FOMO. I once saw one investor buy an NFT for 1.1 million dollars, and now it's only 10 dollars.

You could say Bitcoin/altcoin is an investment while NFT is a hobby that is booming for just a moment, over time it will be forgotten.

[Belarge]

I think the crypto market will be filled with very large funds later after Bitcoin ETF is accepted and, all crypto sectors will rise again. This will happen after all global issues decline.
My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.

It's recommended we know the basis of the system and not keen on making silly mistakes. We have NFTs season, the same way we have altcoins season. We have no concerns regarding the huge investments in the market, I'm just after milking the system heavily and putting on good smiles on my face and lay down crucial investments as evidence of the good life. Non-Fungible Tokens are overhyped in the market and they're gradually becoming dormant, perhapes I won't say they're simple because mere looking at these NFTs projects, they're appear to he complex.

[wxa7115]

So it could be interpreted that NFTs are not good for investment, especially for long-term investment. I myself am not interested in NFTs even though many say this is a very good investment if you enter the gaming industry. Several times I have seen that NFTs can be expensive because of FOMO, and those who buy them pretend to be an "investment" even though they are also carried away by FOMO. I once saw one investor buy an NFT for 1.1 million dollars, and now it's only 10 dollars.

You could say Bitcoin/altcoin is an investment while NFT is a hobby that is booming for just a moment, over time it will be forgotten.

The problematic with NFTs is their unique nature, if you have some bitcoin in your wallet you know that somewhere there is a person that is interested in buying it if you were willing to sell it.

But when it comes to NFTs there is no way to be sure this is the case, as even if for you that NFT was so valuable that you decided to buy it for a high price, you cannot know if there will be another person which will be as interested in it as you were back then, this makes it difficult for NFT owners to time their exit strategy, so they keep holding their NFTs for too long and by the time they try to get rid of them their NFTs are worth nothing.

[bolshojkush]

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.

I've always wondered about the essence of NFT projects as investment in the long, I've never been a part of any of their communities because I really don't understand their vision, all I see is their focuses on games and arts. I guess they'd have to sale a masterpiece to a very rich art enthusiast or a celebrity to earn their tokens, my concern is that the art piece can be duplicated and anybody can have it, except the buyer keeps the original. I'll agree with you that NFT is a trend, and if they don't add any new innovations, then they're as good as dead, with investors funds going down with them. I don't know much about NFT so don't take my words as facts.

The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.

NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.

I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.

[VanKushFamily.com]

There is like a whole Thing that exists, where Starting with WAX Blockchain You can see it, they made Games where You use Things You Buy. This is kind of a MMORPG Thing that Happens, and that gets into like Ranking and Weapons Sets. All the Skins.

So then when making Games, there are Sprites, like Gauntlet Legends on Nintendo they were Talking about Polygons and Everything.

So we used to Play Halo 1 and 2, and we used the OG Xbox to Soft Mod. We used Splinter Cell and the Action Replay, to Open up FTP.

Then we made like Alien Vehicles into Batmobiles, and Smiley Faces in Place of Ash when the Rockets hit something. We set the Physics Different, etc. there was a Neighbor that we knew that did most of it for us, I got all the Materials, and we were Kicked off of the Xbox Network so we had to Play with other Modders and we saw some Things that was never there in the Normal Game.

And then they made the Xbox 360 and made the Home Screen like we used to Mod, and they made the Zombies Game that we used to Play on Trust.

But Everyone can make Money Selling Things for all of this. There are whole New Networks in Blockchain now.

[paul.lee.attorney]

I agree with you, NFTs are pushing the boundaries of what is possible, bringing innovation to various industries. They bring uniqueness to the digital world and have the potential to transform not only art and gaming, but other fields as well, providing new ways to interact and create value.

How does NFT contributes towards the innovation? I haven't seen any useful real life use of NFT because it's nothing more than just an digital art which has been leveraged by the whales and some celebrities to hype and sell it. Just look back and see the celebrities like Cristina Ronaldo and Logan Paul are facing lawsuit due to these NFT's and it's endorsement. I am sorry this is not meant to disrespect you but as per my opinion I haven't seen it being useful in real life and if you have seen any uses do let me know.

1. NFT shall represent value of Real World Assets instead of only conceptual ownership without actual useful-value back-up;

2. ERC-721 is too simple to define the complicated attributes of RWA with respect to their ownership, set up, disposal as well as change of title etc.;

3. Legal relations backing the RWA shall be implemented by smart contracts, so as to enable right-holders may exercise their legal rights directly, automatically and without any third-party to involved;

4. Smart contracts can automatically realize the legal consequences of legal behaviors such like transfer title or casting votes etc., which means no obligors will need to involve into the process thus obligors have no chance to defaults.

If convenience, you may have a look at comboox.gitbook.io/whitepaper-en, which is a RWA project using smart contracts to define and control Equity Shares of companies.

[NewRanger]

Maybe one year ago Tokens (NFT) became very popular because they were trending and received high public attention and now they have faded somewhat. I personally don't really take risks if it's something I don't understand at all and I don't want to put my funds into NFT projects. My current attention is only on BTC and ALt coin which give me good and real returns which is all I am after for now.