September 26, 2022

Unlock A New World Of Possibility With Non-Fungible Tokens.

Unlock A New World Of Possibility With Non-Fungible Tokens.

In recent years, there have been many articles written about crypto assets and blockchain technologies. As a business owner or an individual, it’s important that you try to learn more about what these emerging technologies mean for you because whether you realize it or not, this might be an essential component of the future economy in which we will all be a part of whether you like it or not.

Utility Non-Fungible Tokens will do more than just provide digital collectibles, they give us a chance to access privileges, rights or rewards that we'd otherwise not be able to enjoy unless we had these tokens. This is the future of NFTs and here are some IRL examples that exist today.

Real-life example of NFTs In Gaming

With more than 2.7 billion online players worldwide, the concept of digital treasures is not new to an industry in which there are more than 2.7 billion players globally. is a ground-breaking example of utility in NFTs. Framed in an open-world style environment and touted as the Halo of Web3, is an FPS, play-to-earn game that awards you $SOL for every kill. One of the most popular P2E games currently on the Solana blockchain, launched a limited number of NFTs as player skins and weapons. Owning either a skin or weapon, allows holders to earn “e” (the in game token) for every kill that can be converted into $SOL and sent to your own crypto wallet. One of the most innovative features about is that the game itself can be played directly in your browser. Try it at your own risk though, it’s very addicting!

Real-life example of NFTs In Real Estate

One of the unique things about blockchain is that transactions can be executed in a trust-less environment. This technology has allowed for the implementation of smart contracts and ledgers for real estate purposes. Real estate companies all over the world can now enter into these types of agreements transparently and efficiently via blockchain’s cutting edge technology.

Earlier this year, real estate startup Propy sold its first NFT-backed property in the U.S. The 2,164-square-foot house in Gulfport, Florida, sold for $653,000 (210 ETH) at auction, with the winning bidder being awarded a non-fungible token (NFT) as proof of the home’s ownership. Propy’s first-ever NFT-backed property sale came last May, when the company auctioned off TechCrunch CEO Michael Arrington’s Ukraine apartment.

Real-life example of NFTs In Events

A series of NFTs from Gary Vaynerchuk, named VeeFriends, that provided holders with tickets to the VeeCon conference via NFT ticket airdrops. This was the only way to attend this event. If you did not have a ticket and wanted to attend, you needed to purchase one of NFT tickets on OpenSea from any of the 10,255 tickets that were issued to VeeFriends Series 1 holders. Remarkably, even though the event has already happened, NFT genesis tickets for Veecon still maintain a floor price of ETH 0.328 ($380.61).

Real-life example of NFTs In Domain Names

With a blockchain domain system, owners can control their domains using private keys. The Internet Corporation for Assigned Names and Numbers (ICANN) controls the standard domain name service (DNS) and there is limited oversight of authoritative domains. This raises concerns about censorship and security. Blockchain domain names are stored on a public database that cannot be deleted or altered by a third party, helping to eliminate these concerns.

The world of online trading and websites is changing drastically. With blockchain becoming more widely used, new digital currencies are emerging that require unique identifiers for their users. The Ethereum Name Service (ENS), Unstoppable Domains, and Bonfida, decentralized alternatives to the standard DNS, provide crypto-addresses that are similar to an Instagram or Twitter handle, but each name must be unique. Although Instagram and Twitter users are not allowed to sell links to their sites, ENS, Unstoppable Domains, and Bonfida let users buy and sell crypto-addresses - but only if they're one of a kind! The more popular names have higher prices. Some people pay top dollar in order to secure valuable site names they hope will gain prominence in the future.

Real-life example of NFTs In Music

At the moment, Non-Fungible Tokens (NFTs) have become more prominent in the music industry. Just recently popular DJ and EDM remixer 3LAU sold $11.6 million worth of NFTs this February alone, followed soon after by dance DJ Steve Aoki earning $4.25 million from his non-performing loans in March to make him the most recent batch of entertainers to get on board with what’s sure to be a flourishing industry for years to come.

Musicians have always been in a difficult position when it comes to the royalties of their work. In an age where digital files are ubiquitous, collecting money from purchases of music has become complicated not just because the wide array of potential buyers makes monetizing difficult but also because the systems used for payments do not directly support royalty distribution. NFTs, on the other hand, can ensure smart contracts benefit musicians and ensure that they are paid whenever their songs are played. Musicians may finally receive their share of proceeds even if it's as small as 1 cent!

In the last few years, Non-Fungible Tokens (NFTs) have become a hot topic in the blockchain and gaming space. In this blog post, we take a look at the concept of NFTs and how they are more than just digital collectibles. In future, NFTs are likely to become an essential part of how blockchain technology is used to give us access to privileges, rights or rewards that we would otherwise not be able to enjoy.

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