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Cryptocurrencies and blockchain technology have brought about a new way of conducting transactions, and with it, a wave of digital assets. These assets take many forms, but one of the most interesting is that of non-fungible tokens or NFTs. NFTs are unique in that each one is different from the next, and they can be used to represent anything from digital Collectibles to real-world assets. In this article, we’ll take a look at the different types of NFTs.
The 5 prominent entries in a non-fungible tokens list would include the following,
Collectibles & Artwork
Scarcity, uniqueness, and proof of ownership were traits associated with art in the physical world. With Digital art being popular, there are more who go the NFT way. As a result, creators are able to own and sell their digital work, which leads to a whole new market for original digital art and collectables.
Event tickets
Picture this. There is an event you are planning on attending. The event manager could mint a certain number of NFT tickets on a blockchain platform of their choice. Tickets could be purchased through an auction and stored in the customers’ wallets for easy access via mobile devices. How cool will that be?
Music and media
Music and media are also performing experiments with NFTs, thus leading to another category of NFTs. And Bollywood celebrities are also hopping on this bandwagon.
Gaming
NFTs have attracted a great deal of interest among game developers.
By allowing users to access ownership records for in-game items, they can encourage the growth of in-game economies.
This does not mean that we are leaving out other types of NFTs. You can also see that NFTs are revolutionising Virtual items, Real-world assets, Identities, Memes and Domain names too!