If you've been wondering why i call myself The Non Fungible Human, read on!🙃
Digital Collectibles
Collectibles have been around for centuries, with people collecting everything from stamps and coins to baseball cards and action figures. But what happens when the collectible is digital?
That's where the world of digital collectibles comes in.
Digital collectibles are items that exist only in a digital form and can be collected, traded, or sold like any other item online.
NFTs
A non-fungible token, or NFT, is a digital asset that is unique and cannot be interchangeable with another unit of the same type. This makes them perfect for representing digital collectibles or scarce items in online games.
For example, you could create a limited edition set of NFTs to represent an event or character in your game.
In other words, each NFT is a distinct and individual item. This makes them perfect for representing digital collectibles, as no two items are alike.
NFTs are created on blockchain platforms like Ethereum and EOS using smart contracts. This allows for trustless ownership and easy transfer between users.
It also means that the assets can be stored securely on the blockchain and used as collateral for loans or betting exchanges.
6 NFT Use Cases
1. Collecting and Trading: One of the most popular uses for NFTs is collecting and trading them with other people.
2. Loyalty Programs: Many businesses use loyalty programs to reward customers for their loyalty. With NFTs, these programs can be digitized and made much more efficient and user-friendly.
3. Charitable Donations: Non-profit organizations can also benefit from using NFTs as a way to accept donations from supporters around the world. This not only makes it easier for donors to donate money, but it also allows them to track how their donation is being used.
4. Event Ticketing: Tickets to events often sell out quickly, so having an online system that uses NFTs can help ensure that everyone has a fair chance at getting tickets without having to queue up in person hours before the event starts!
In addition, this system can also help reduce ticket fraud since each ticket would be linked specifically to the owner’s unique ID number)..
5. Online Gaming Items: Online gamers have been using virtual items (like swords and armor) as an alternative form of currency for years now!.
By using NFTs instead of virtual items though, gaming platforms could create a more secure system where gamers know that they will always own the items they purchase regardless of what happens to the game server itself).
6. Digital Art Assets: Just like physical art pieces appreciate in value over time, digital art assets hold similar potential thanks to blockchain technology!
Artists who create digital artwork could use blockchain technology as a way to store their work securely while allowing buyers access 24/7 from anywhere in the world).
You know other NFT Use Cases, drop them below 👇
You should literally know what The Non Fungible Human means now🙂
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