Here are Five Other Use Cases of NFTs
Initially, when non-fungible tokens (NFTs) are talked about, the first things that come to mind are JPEG art and blockchain gaming. However, blockchain technology has more to offer than art and games for the NFT world. Although the technology is young, there are a lot of ways NFTs can be utilized in the real world. This article breaks down 5 unique cases NFTs can be used by anyone in the space.
(Check out our Ultimate Guide to NFTs here!)
NFT Music and Spoken Poetry
For musicians who want to launch their own album, blockchain technology offers platforms like Binance NFT and Audius Music where musicians can mint their music. An example of an NFT music artist is independent blockchain music producer, Alibatta, that launched their music album featuring Ali Young on Binance NFT last year.
While another group, Titik Poetry, a group of Filipino artists who specialize on spoken poetry, launched their first album on the Tezos blockchain. Owners of their NFT will have lifetime access to online and real life events hosted by the group and will enjoy discounts on their merchandise which is another NFT utility.
Through exclusive membership, NFT holders can receive privileges on services and merchandise. For example, when La Union Surf Club launched their collection, TIKBOY Digital Surfboard NFT, their NFT holders were not only given beautiful artworks of surfboards, but also a lifetime membership to their establishment.
Another project that offers privileges and discounts to their NFT holders is Bored Punks of Society (BPOS); their vision is to give value to the community through utilities of their NFT collection. Here are some of what BPOS offers:
Last October 2021, the National Book Development Board (NBND) released an NFT story book at the Frankfurt Book Fair (FBF), the oldest and largest book fair in the world. The Last Book by Yvette Tan was immortalized by Jowee Alviar of Team Mania Lifestyle. This move is to promote literature in the NFT space and support The Book Nook Project in reaching out to the indigenous group and remote communities by building reading centers.
Artist Steve Manzano of the Titik Poetry group also released a literary work in NFT form:
Brands like Team Manila LIfestyle initiated to be the first Filipino brand to enter the NFT space to create their own collections for Filipino patrons to hold.
Top Shots of National Basketball Association (NBA) where game highlights are immortalized into NFT trading cards. This trading cards has their rarity and video clips of different NBA players gives the uniqueness of each NFT.
Most decentralized autonomous organizations (DAOs) use genesis NFTs and governance tokens as means for holders to be able to be part of the community voting and governance. In real life application, a young Filipino named Rien Lewis Pecson developed an NFT-based voting platform to help voters to monitor the vote counts for the coming National elections (iVote.ph). This initiative ensures that all votes are true and immovable once casted on the blockchain platform in real time.
There are more use cases available out there. NFTs are used for holding galleries both in the online world and real life. There are also attempts to place personal information like medical records and real estate titles into the blockchain technology, securing important information at the convenience of their owners through phone apps. Even virtual lands are also used to either shop and try out wearable NFTs. Basically, blockchain technology has the potential to improve one’s lifestyle.
This article is published on BitPinas: Here are Five Use Cases of NFTs other than Art
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