30 November 2023

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

By Ronald Smith

Hey there! Have you heard of non-fungible tokens (NFTs)? They’re like this cool new tech that’s making waves in the digital world. Usually, people think of NFTs as just being for trading cool artworks and game characters. But guess what? NFTs can actually do so much more!

Believe it or not, NFTs can represent physical objects, digital content, and even intangible things like intellectual property. It’s mind-blowing, right? These little tokens can do more than just give us pretty pictures – they have practical uses too!

10 Places to Sell Your Amazing Art as NFTs

Are you an artist? Do you want to share your authentic and original creations with the world? Forget about mass-produced stuff – NFTs are here to showcase your true talent!

1. Guaranteeing the Real Deal

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

NFTs are pretty cool because they can make sure the thing you’re buying is real. With the help of blockchain technology, information about a product can be stored forever, so you can easily check if it’s rare and authentic. And it’s not just for physical stuff – NFTs can also keep track of how things are made, making sure everything is fair trade.

But NFTs aren’t just for consumer products. They can also be used in industrial design prototyping. Companies are already using them for this purpose and seeing great results.

And let’s not forget about fake food and medicine. It’s a big problem right now. But NFTs can help with that too. Just imagine scanning a QR code on a nutritional supplement you bought online and being able to see its whole journey, from the moment it was made to when it was shipped to your door.

Let me tell you something important. If a product claims to be made and sourced in a specific country, but it’s not true, it will eventually be found out. You see, the track record of these things is transparent. People can easily see if something doesn’t match up.

Now, let’s move on to another topic: real estate.

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

NFTs and real estate go together like peanut butter and jelly. You can use NFTs to transfer land deeds, prove ownership, and even keep track of changes in property value over time with timestamped NFTs.

The real estate industry is a perfect fit for NFTs. They can simplify and speed up transactions, enable smart contracts for properties, and even create decentralized home rental services. Plus, they can keep sensitive data like credit card details secure.

Just imagine having all the information about a property at your fingertips. With just a few taps on your phone, you can know when the property was built, who owned it before, what modifications have been made, and everything else you need to make an informed purchase.

And that’s not all. NFTs can also revolutionize medical records and identity verification. They could provide a secure and transparent way to store and access medical information, ensuring that it’s always up to date and accessible when needed.

So, whether it’s real estate or personal information, NFTs have the potential to change the way we handle and manage important assets. The possibilities are endless, and it’s an exciting time to be a part of this technological revolution.

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

Did you know that NFT ledgers have the power to securely store personal medical records? Yep, that’s right! Your medical history can be stored in a way that keeps it confidential and safe from tampering. How? Well, NFT transactions are double-checked by multiple nodes before being permanently added to the blockchain. This ensures that every record is accurate and protected from any sneaky attempts to manipulate it by external sources.

But that’s not all! NFT applications have also been created specifically to help healthcare professionals. Let me give you an example – NFT Birth Certificates. These special NFTs can be issued to newborns by healthcare providers. By creating an NFT for each child, we can quickly establish a lifelong identity on the blockchain that is linked to their birth certificate. And you know what’s even cooler? We can verify this identity using NFT verification apps.

You know what’s amazing? NFT ledgers. They’re these cool digital tools that can actually help keep sensitive medical data safe. Isn’t that something? But here’s the thing – even though they’re super secure, authorized healthcare providers can still access the data when they need to. It’s like having the best of both worlds.

These days, people are starting to realize that NFTs can be used for more than just medical data. There are all kinds of possibilities, like using them to improve hospital operations. Imagine being able to verify patient identities or record medical procedures without compromising patient confidentiality. It’s pretty mind-blowing, if you ask me.

And that’s not all. NFTs can also be really useful for intellectual property and patents. They provide a way to securely store and manage these valuable assets. It’s like having a digital vault for all your brilliant ideas.

So yeah, NFTs may sound complicated, but they’re actually pretty awesome. They’re changing the game in all sorts of industries, including healthcare and innovation. It’s exciting to think about what the future holds for these digital wonders.

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

NFTs are an incredible tool for safeguarding intellectual property and patents. And the best part? They allow you to prove that you actually own a piece of content, something you can’t do with normal trademarks or copyrights.

With NFTs, you can easily establish ownership of your intellectual property. Just take a look at the timestamps and the complete history of your work. The NFT chain is completely unchangeable, so you can prove that you were the original creator at any given moment.

This is especially useful when it comes to patents. NFTs can be used to protect and validate your ownership of innovative ideas or inventions. Plus, they provide all the necessary data for verification, creating a public record of all patent-related transactions.

But that’s not all! NFTs are also great for academic credentials. What better way to prove your qualifications than with an unalterable digital record? It’s an easy and secure way to showcase your educational achievements.

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

Did you know that NFTs can also be used to represent academic credentials? It’s a pretty cool way to showcase your educational achievements! With NFTs, you can have proof of your attendance, the degree you earned, and other important information securely stored on the NFT chain. And the best part? This information cannot be tampered with or hacked into!

Gone are the days of paper certificates. In the future, NFTs will serve as the official record of your academic accomplishments. You can even transfer NFT education tokens to others, providing them with undeniable proof that you earned those achievements.

6. Supply Chain

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

As I mentioned earlier, products, especially in the food industry, face a significant challenge when it comes to verifying their origins and ingredients. But with the blockchain, we can attach NFTs to products, creating an unalterable NFT identifier. This is a great example of NFTs working alongside the supply chain.

Furthermore, NFTs offer companies the ability to track their products all the way from production to shipping and delivery. This allows customers to have a clear understanding of their purchases and promotes transparency within the company’s supply chain.

7. The Gaming Industry

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

NFTs and video games are a match made in heaven. By integrating NFTs into the gaming world, we can have NFTs that work across different platforms. This means that if you own something in a game, you can use it in other games too. It’s like having a special item that goes with you wherever you play.

For game developers, NFTs offer a new way to expand their brand and make money. They can create unique and valuable items for players to own. And for gamers, owning NFTs gives them more reasons to keep playing a game. If you already have cool characters or special items, you’ll want to keep using them and showing them off.

Trading in games becomes easier with NFTs. Not only can you trade items with other players, but you can also sell them for real money. The value of NFT items can even go up because some items are rarer than others. And the best part is that there’s no middleman involved in the transaction. Everything happens instantly using the blockchain, so you don’t have to worry about scams.

With NFTs, there are endless possibilities. You can buy weapons or equipment that have been tested and recommended by other players. It’s a whole new way to experience games and make the most of your gaming experience.

8. Getting Tickets

Hey there! Need some help with getting tickets? I’m here to assist you. Whether it’s for a concert, a sports event, or a theater show, getting tickets can sometimes be a bit confusing. But don’t worry, I’ve got you covered!

First things first, let’s talk about where you can get those tickets. There are a few different ways you can do this. One option is to buy them directly from the venue. This means going to the place where the event is happening and purchasing the tickets in person. Another option is to buy them online. Many events have websites where you can purchase tickets, or you can use ticketing websites like Ticketmaster or StubHub.

Now, let’s dive into the process of actually getting the tickets. When you’re buying them in person, you’ll usually have to wait in line. This can sometimes be a bit of a hassle, especially if the event is really popular. But once it’s your turn, you can tell the person behind the counter how many tickets you want and where you’d like to sit. They’ll then print out the tickets for you, and you’ll be all set!

If you’re buying tickets online, it’s a bit different. First, you’ll need to find the event you want to attend on the website. Once you’ve done that, you’ll usually have some options for the type of tickets you want and where you’d like to sit. After making your selections, you’ll have to enter your payment information and complete the purchase. Once that’s done, you’ll either receive an email with your tickets attached, or you’ll be able to download them directly from the website.

One thing to keep in mind when buying tickets online is that they can sell out quickly, especially for popular events. So if there’s an event you really want to go to, it’s a good idea to buy your tickets as soon as they go on sale. That way, you won’t miss out!

I hope this helps you navigate the ticketing process a little bit better. Remember, whether you’re buying tickets in person or online, it’s all about being prepared and getting them early. Now, go out there and enjoy your event!

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

In the near future, NFTs will replace traditional tickets. Picture this: instead of holding a physical parking pass, you’ll have a digital “ticket” called an NFT. This ticket will be assigned a unique ID, which you’ll use for validation when entering restricted areas.

This revolutionary change solves several problems. First, it eliminates fraud. With an NFT, it’s practically impossible to create counterfeit tickets. Second, it reduces paper waste. Instead of printing multiple copies of a physical ticket, NFT owners only need one digital token. It’s just like how we don’t print out our money.

The same concept of NFTs can be applied to bus tokens or other transportation forms. Imagine using your digital NFT to pay for your bus ride or subway trip. At different points during your journey, you’ll simply scan your NFT for payment verification. It makes the whole process more efficient and convenient.

9. Keeping Track of Artwork

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

After World War II, many works of art were lost, either replaced by counterfeits or stolen by individuals or groups. But now, a new solution has emerged – tagging original artworks with NFTs for tracking. And it’s not just limited to existing physical pieces; it can apply to future creations as well.

But here’s the exciting part: it works both ways! Physical art can be transformed into NFTs, and NFTs can be turned into physical art, all while keeping the digital token intact.

Implementing NFTs can revolutionize the art world by ensuring the authenticity of specific pieces and eliminating counterfeit artwork from circulation. NFT owners can have peace of mind knowing that their property is genuine, especially when purchased from a reputable auction house.

10. Voting

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

Many countries require voters to bring a photo ID and proof of residence when they go to vote. This is causing many people to lose their right to vote because they don’t have copies of their IDs or any other documents to prove where they live or if they are registered to vote.

But there is a solution to this problem: NFTs. NFTs can provide a digital identity for people who don’t have physical documentation to prove who they are and where they live in the country.

Using NFTs can also help get rid of cheating and voter fraud. NFTs can serve as an official record of who voted and how they voted.

And here’s a bonus: NFTs can also play a role in the Metaverse.

10 Real-Life Ways to Use Non-Fungible Tokens (NFTs)

I’ve previously written about the Metaverse and how NFTs will contribute to its advancement. NFTs offer various possibilities, such as the ones mentioned above, including using NFT tokens to purchase products. These examples illustrate how NFTs can shape a future where people primarily interact with digital avatars instead of physical ones.

The Metaverse rests on a fundamental principle: your future avatar within it will be represented by an NFT. This NFT acts as your unique identity within the virtual space, safeguarding it from theft and ensuring its authenticity. Additionally, NFTs can be used to acquire avatars belonging to others. However, keep in mind that an NFT tied to a famous person may come with a higher price tag or may not be available at all due to licensing constraints.

Now, let’s take a closer look at what the Metaverse is all about, including some examples to better understand its concept and potential.

In 1992, Neal Stephenson, a science fiction writer, came up with the term “Metaverse” in his novel Snow. This term refers to a virtual reality space where people can interact, create, and explore.

To sum up…

Although the use cases for NFTs are still in their early stages, it’s clear that they have potential beyond just gaming. Everyday people like you and me can also benefit from them in various ways. Not only will NFTs make certain services more convenient to use, but they will also bring more transparency to transactions, particularly when it involves owning physical assets like artworks or real estate, or even intangible things like concepts or ideas.

As time goes on, we can expect more developments in this field. In fact, it’s quite possible that the Metaverse is already making its presence felt, perhaps without us even realizing it.