Non-Fungible Tokens or NFTs are a way to represent unique digital data. However, it now goes beyond the digital world. It can now be anything from artwork to music, videos, sneakers, fractional real estate, and almost anything in the real world. The latest NFT examples will show you what this technology is best known for, as well as other applications you may not be familiar with.
Latest NFT Examples
The latest NFT examples show you that it is possible to create an NFT for almost anything. And as a creator, entrepreneur, or small business, it highlights plenty of opportunities to generate income.
Take a look at these NFT examples and get inspired.
Although many people don’t call the art NFTs the most popular, they are valuable to the people who own them. And many of them are worth millions of dollars. However, they are not the only type of art to be minted as NFTs. There is also very traditional art sold as NFT. So, just like in the real world, you have many options to choose NFT art.
The sneaker resale market is expected to reach $30 billion by 2030, up from $6 billion in 2020. You can now add NFT sales to the trend as sneakers are being sold for $100,000+ in as NFT.
In 2021, the global video game market size was valued at $195.5 billion, and it is expected to grow at a compound annual growth rate of 12.9% from 2022 to 2030. When you add item purchases in the game, the market valuation will still increase a lot. upper. Having NFT items in-game makes selling them easier and safer.
real world object
As the name suggests, real world objects can be anything. From a Rolex watch to a car.
Fractional real estate
Selling split NFTs allows the seller to split the item into several different parts. This means that a split house can be owned by 10, 100, 1,000, 10,000, or even a million people. For real estate investors, this means they can now make it affordable for people with limited incomes to start investing. A split token can start at $50 or more depending on how many times the seller wants to split the property.
- An essay
- A digital collection
- A domain name
- A ticket that gives you access to an event or a coupon
- Music royalties via NFTs
- move 2 win
- Numeric identity
As more people and businesses begin to realize the flexibility and security of NFTs, the technology will be pervasive in the real and digital world.
Example of NFT smart contract
An NFT smart contract is a means of implementing a sales agreement between the NFT owner and the buyer. Since smart contracts are self-executing, they can verify that the terms of the contracts have been met. This means that they can execute the conditions without having to deal with an intermediary or a central authority.
Here is an example of NFT code for a smart contract courtesy of Ethereum.
Making NFTs work in the digital and physical world
With an NFT, you can assign ownership of any unique numeric data. Similarly, you can also do the same for non-digital assets. An NFT could represent digital art, music, videos, GIFs and more in the digital world. In the real world, NFTs can represent signatures, legal documents, articles, tickets to an event, and even deeds for a car.
Coachella is selling an NFT with Key to the VIP Compound with lifetime passes for two plus huge perks.
Early adoption of NFT for enterprises
NFT technology is in the early stage of enterprise adoption, but its potential is enormous if properly applied. With proper implementation, small business owners can take advantage of the many benefits that NFT offers and will offer in the future. As an entrepreneur, exploring all options to increase your sources of income will ensure the long-term survival of your business. And NFT is one of the tools that can make it possible if you start now.
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