Niches and applications of NFTs

[blockchainXtech 0]

Most NFTs are used to trade all kinds of digital artwork, from digital copies of actual paintings to memes. For example, on the OpenSea trading platform, you can buy, sell, and transfer images, videos, gifs, and music.

But the fine arts are not the only field of application of non-tradable tokens. They can also be used to trade trading cards (NBA Top Shot), game characters (CryptoKitties), real estate (Mintable), virtual worlds (Metaverses), investment offerings (Spencer DINWIDDIE contract), and any other realm where tokenization can be made. ownership of something The key is to create a market that is capable of handling the property you want.

For example, if you want to develop an NFT marketplace for trading artworks, you essentially have to create a normal online store , whose server side needs to be able to release, store, sell, and trade NFTs. This is relatively easy. However, if you need an NFT platform for real estate trading, you will have to create an analogue of Zillow or Trulia. These platforms must be able to work with the MLS and state registration databases, identify the user's location, etc.

And so with each sphere. Here are some more examples:

Online learning . These marketplaces must offer a full range of services for e-learning : from selling a training course to tracking the buyer's learning progress and communicating with instructors.

Investment projects . These types of NFT markets should work like a stock market to trade titles. That is, they must offer the possibility of issuing legally legal titles with the right to property, dividends or profit sharing.

Safety. Non-exchangeable tokens can function as access keys to content, software, a database, an operating system, or an event. To sell this type of NFT, the marketplace must be as secure and reliable as possible and support the most popular security features on the buyer's side (Touch ID, Face ID, Eye ID, etc.).

Video games . The sale and purchase of NFTs, which represent unique in-game assets or characters, typically take place within the game (in exchange for in-game currency) or in external online venues that guarantee the secure exchange of real money for the in-game asset ( like on Steam). This implies a very close integration with the video game.