While there’s a lot of noise made on Social Media about NFTs, the idea behind NFT creation is still vaguely understood by a lot of crypto enthusiasts and common people. Did you know that NFTs have made gamers earn while they play?
Not just this one, there are a myriad of NFT use cases that can be a deal breaker across technologies and businesses. But before getting to know them, let’s understand a bit more about NFTs, Web 3.0 and Metaverse.
Any form of digital art — painting, photograph, meme, video or music clip, poster, a moment, a gaming collectible is stored and encrypted in a blockchain is referred to as NFTs. These art forms are hosted on blockchains to protect them from data and copyright infringement.
A Metaverse is a space created by 3D and multisensory objects in the virtual world.
Web 3.0 is an internet revolution that leverages machine learning, artificial intelligence and blockchain technology to connect humans to the digital world.
Connecting the dots, Facebook is undergoing such a cutting edge revolution that can disrupt businesses in the current decade. In layman terms, Meta aka Facebook will soon be a virtual world, where networking, socializing, meetings, and video calling will become close to reality. Feel it here.
In the upcoming years, it can aid businesses by having digital land, buy and sell their digital arts (NFTs) in a metaverse like Facebook.
Having this in mind, some new NFT Ideas are popping up among digital art enthusiasts and creators in the NFT space with which they could earn a fortune.
Let’s move straight to the best part :P; real-world NFT use cases and their significance.
The headline is: TechCrunch’s founder, Michael Arrington, listed his apartment in Kyiv for sale on Proppy.
Get into the details: Proppy is a Silicon Valley-based Proptech company founded to cut down time, ease the effort taken during a deed, and eliminate scams with real estate. In short, the company automates real estate transactions on smart contracts. This deed by Proppy in Ukraine is expected to be the world’s first NFT real estate sale.
So, you may wonder how this works! It’s simple. The deed’s terms and conditions are converted into Smart Contracts and stored as NFTs. Once the bid is finalized, the transaction is made in minutes. The process is safe and straightforward, where a virtual certificate can neither be lost nor manipulated.
How long would be hiding all your digital arts in your iPad Pro or on Behance? We know you’ve invested h days in developing conceptual digital arts but are afraid it might be copied or not welcomed in the world of arts.
Hello, Creatives! Art NFTs are here to your rescue. Your art is not only appreciated by a group of people globally but can also be sold for millions of dollars. Remember Beeple? If you step into hosting your art forms as NFTs today, you can be him.
Here’s what you’ll need to know before that.
Not just digital artists. A few celebrities and sportspeople have also appreciated these new NFT Ideas. Some of the notable personalities who recently got into the NFT community are Eminem, Snoop Dogg, Amitabh Bachchan, Sunny Leone, Quentin Taratino, Justin Bieber, and the list goes on.
Learn more about art NFT Ideas here.
Showcasing NFTs to visitors in theatres, public places, and museums has been a trend now. The trend has picked up so well in Russia at the State Hermitage in Saint Petersburg, the world’s largest museum. The museum hosted a digital exhibition displaying 38 NFTs in digital reconstruction in November. Looking further, experts also observed that NFTs have greatly impacted the Ticketing process of such significant events. This is probably a new NFT Creation Idea that not many people would have thought of.
NFT Ticketing has addressed the current problems with traditional ticketing like the black market, customer trust and exchange protocols. With NFT Ticketing, the Smart Contracts exchanged between the buyer and seller and the hash value stored on a blockchain makes them immutable. Post the Smart Contract procedure, the transaction will take place, and the ticket ownership is transferred to the buyer in a hassle-free manner.
The penetration of blockchain technology into the healthcare industry has promised many benefits to both service providers and beneficiaries across world countries. Some of the critical areas where NFTs can be deployed in a blockchain in healthcare are:
-Blood Banks and Blood Donation Organizations welcome the use of hosting donor information as NFTs tokens so that it can be easily tracked and delivered when the need arises.
-Pharmaceutical manufacturers are encouraged to use NFTs to store drug data to ensure easy tracking and authenticity.
The fashion ecommerce business in the world has seen a growth of $668 billion in 2021. This has opened several opportunities for synergy between the fashion and blockchain industries.
Imagine you’ve purchased a hoodie from your favorite fashion brand and lost or got it damaged? It can be replaced. Surprised?
Overpriced, the famous brand has fabricated physical clothing, a hoodie with a scannable V-code. The yet to be patented product can be worn, authenticated as NFT and flaunted by the owner. The silver lining of this invention is that when lost, stolen, damaged or sold to someone, a new piece of clothing can be shipped to the owner, nullifying the existing one using the V-code.
Brands like Gucci, RTFKT have also joined the foray by designing digital and AR clothing.
A brand is made popular by its thriving marketing strategy. Food brands like McDonald’s and Taco Bell have stepped into this trend and launched their first NFT collection.
McRib is a limited edition of 10 NFTs launched by McDonald’s on account of their 40th anniversary during November 2021 in the US. The NFT was not available for purchase but as a giveaway to lucky winners.
Budget King also allowed customers to scan a QR code and purchase NFTs on a platform called Sweet.
PS: If you are a marketer and looking for a disruptive strategy for your business/brand, then think about a new marketing idea with NFTs. Thank us later!
If you are also as excited as we are about Facebook’s entry into the virtual world, then this use case would amuse you. Cutting a long story short, a Metaverse combines machine learning and artificial intelligence where connectivity is established between real and virtual worlds. Now you may wonder how NFTs can create an impact here.
Metaverse will allow people to showcase their digital assets and NFTs, opening avenues for creators to sell their piece and monetize their work. This idea of metaverses might sound similar to NFT marketplaces, but the outlook might be different, just like how you see NFTs in metaverses like Decentraland placed for viewers to buy and sell.
The concept can also influence the marketing and sales strategies of brands. For example, McDonald’s doesn’t need a hoarding on a highway to feature their latest offer or food item. A space in a metaverse can be utilized for their ads and product display. Insane, isn’t it?
We know you are overwhelmed by the whole thought process of NFTs disrupting various sectors and being applied to solve many problems effectively. The day is not too far. We never knew that working from homes or remotely would become the new normal until the pandemic started kicking in. Embrace the change and keep yourself updated about new NFT ideas that are being innovated every day in any corner of the world.
Be it an ordinary man who looks for investment opportunities to retire early, a changemaker who can toss an industry upside down through an NFT creation idea or a creator who wishes to earn a fortune from his work, NFT has everything to offer in this decade.
On the flip side, the burgeoning technology also reported an umpteen number of scams in recent days. Just like how an anti-hero is incarnated against a superhero.
Who wouldn’t love superheroes? To safeguard the NFT ecosystem from threats and scams, bitsCrunch has become Ecosystem Guardians. As a blockchain analytics company, we’ve been providing tools to identify wash trading, bootlegging and fair price value for NFTs. Subscribe to know more about the industry and the happenings to be future-ready!