5 Use-Cases of NFTs Beyond ART
Misconception I encountered about NFTs is it's just ART instead of spending money on buying some NFT why not just download JPEG (image) and they are people who don't know about Use-Cases.
I'm into NFTs since more than 1 Year have flipped a lot and seen usecases that I want to write off 5 Use-Cases ahead in this post for Good purpose like awareness.
1- Buying and Selling of NFTs on Marketplaces
The only use-case NFTs are born Naturally is that anyone can Sell and Buy on NFT marketplaces Like opensea is one of the biggest marketplace for NFTs.
The Floor of NFTs indicates Price for buying and selling which depends on human and demand of collection.
2- Staking NFTs for Passive Income
The Second Possibility comes with NFTs is Staking and it depends on project owners whether they have a plan to add staking feature or not.
Mostly people Go for the staking feature, roadmap of NFT collection than comes Look and unique ART concept.
By staking NFT we can earn X token on X APR and that token have own Roadmap depends on project team.
3- NFTs Use Case in P2E Games
NFTs in Gaming is a new evolution make it possible for Players to earn Money while Playing Games.
All they need is to Own a NFT of Game which can be a card like in Sprinterland is a Play 2 Earn Game and NFT is a asset requirement to unlock Game.
NFT role in Game can be anything a character, card which is only way possible to monetize Gaming.
4- Lending/Borrowing in NFTs
In DeFi some NFT protocols have Lending possibilities which is quite Amazing. People can lend their NFTs to each other instead of selling it and Get coins or tokens like bitcoin,ETH (examples).
The way it work is NFT will be set as collateral in order to take loan in asset like token or coin for X % of interest rate.
5- Use of NFTs in real estate
In Metaverse NFTs will have use in real estate like Buying a land or Property NFTs will be used as assets.
NFTs represent digital assets and in any way on Blockchain NFT is a credibility or a key comes with true ownership to person.
For now hopefully you came to know something new about NFTs and do let me know what's Your favorite use-case of NFTs in comments.
Thanks for reading.
Greetings.
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Good explanation, thanks.
Thanks a lot. 😍
Not staked any since smartBCH days...
Still have staked NFTs there.
Great Memes! Thanks for brightening my day with humor!! !LUV
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Ah man, Thanks for your kind words 😍
Much !LUV
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I have very few knowledge about NFT. In recent times it's getting popular and because of it I am feeling interested to know more about it.
Thank you for providing knowledge through your article .
Anyway what's up?
Keep knowing more bout it you'll find it interesting thing.
Nothing much just Busy routine IRL bro.... How about you?
Yes , that's right . I always try to learn something new .
I am fine and everything is going well and my examination already finished.