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Some Popular NFT Use Cases!
NFTs are digital assets that cannot be replicated or substituted due to their unique use of blockchain technology, providing a secure, decentralized record of ownership. Because they cannot be copied or altered, NFTs are often used to track the ownership of property, both physical and digital. But they really got their traction recording the ownership of pieces of digital art, which could be bought and sold on NFT marketplaces.
A growing number of musicians have turned to blockchain technology, and specifically NFTs, as a way to mint and preserve everything from digital music, to album art, to memorabilia.
With the use of NFTs, artists can tokenize their songs and albums, provide royalties to creators and producers, and sell their digital merchandise for an additional source of income if they want.
📌Event Ticketing:
This phenomenon is not only frustrating (and costly) to consumers, but it can also rob event organizers of additional revenue, and lead to the purchase of fraudulent tickets.
NFT ticketing is a possible solution. Tickets in the form of NFTs that exist on a blockchain can act as access passes to any live or virtual event, providing a more secure and convenient alternative to traditional ticketing. Buying an NFT ticket directly from the artist removes the need for third-party sellers, likely reducing scams and scalping due to higher transparency and authenticity verification. Plus, due to the public nature of blockchain technology, event organizers could check transaction histories to prevent fraud. 
Beyond these more pragmatic benefits, ticketing an event with NFTs can also potentially help issuers interact with customers in a new way, offering perks like surprise giveaways, token-gated sites and services, and access to exclusive experiences and fan clubs simply by collating data associated with holders of a specific NFT ticket.
📌Virtual Real estate:
Virtual real estate is among the most important and lucrative aspects of the metaverse as it exists today, available on virtual worlds like Decentraland, The Sandbox and Roblox. Like in the real world, available land in these virtual worlds is limited, but instead of cash they’re traded with NFTs. Major brands like iHeartMedia and Gucci, as well as celebrities like Paris Hilton and Snoop Dogg have staked their own digital grounds. When a person buys a plot of virtual land, the NFT representing the ownership of that parcel is transferred to the crypto wallet of that buyer, at which point they can do everything from open a virtual concert venue to build a house and charge other players rent for staying there.
Play-to-earn games have gained enormous popularity over the last couple of years, offering real-world economic incentives to the people who play them. By completing tasks, battling other players and progressing through various game levels, players are rewarded with in-game assets like virtual land, avatars, weapons, costumes and other NFTs, which can then be taken out of the game to be traded or sold on marketplaces.
The global supply chain has seen quite a bit of technological innovation over the last several years, including adoption of blockchain technology in order to improve tracking and transparency, make payments more efficient, promote more ethical and sustainable sourcing methods, and much more. The implementation of NFTs, specifically, can make it easier to verify and track items as they go along the supply chain, from raw materials to finished products.
Like many assets, NFTs can be used as collateral, meaning a person can exchange an NFT they own for a decentralized finance loan.
Here’s how it works: First, the lender and borrower need to agree on the given asset’s value, the length of time the borrower has to pay back the loan, and the amount of interest to be repaid on top of the original loan amount. Once that happens, the NFT is locked into a smart contract, or a self-executing program stored in a blockchain that only runs when certain predetermined conditions are met, for a pre-specified amount of time or until the borrowed amount (plus interest) is repaid in full.
Many of the NFTs collected today are regarded as pieces of digital art — the collection of which started as an exclusive activity for the techie and wealthy, but has rapidly gone mainstream thanks to wild success of NFT art collections like CryptoPunks and Bored Ape Yacht Club. Some pieces go for a couple bucks, while others go for hundreds of thousands or even millions of dollars.
Complete control over one’s online identity has been a unique selling point of blockchain technology and the entire Web3 space it is helping to build, with the next iteration of the internet promising to give ownership back to the individual. And NFTs could be a key part of that, particularly utility NFTs.
Like any other NFT, utility NFTs are unique digital assets that exist on the blockchain. But, instead of just being defined by their value based on market demand, their purpose is to offer irrefutable proof that you own something else. This could be used for your college diploma, the deed to your house or a plane ticket.
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NFTs are digital assets that use blockchain technology to provide a secure, decentralized record of ownership. They can be used to track the ownership of physical and digital property, digital art, music, event ticketing, virtual real estate, gaming, supply chain, decentralized finance loans, art and collectibles, and web3 identification. NFTs provide a secure, transparent way to verify ownership, preventing fraud and scams, and offering additional income opportunities for creators.
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