Non-fungible tokens (NFTs) gained massive popularity in 2021, primarily in digital art and collectibles. However, their use cases extend far beyond art.
1. Gaming: Blockchain-based games allow players to own, trade, and monetize in-game assets using NFTs.
2. Real Estate: NFTs are being used to tokenize ownership of real-world properties, enabling fractional ownership and easier transfers.
3. Intellectual Property: Musicians, writers, and creators can tokenize their work, ensuring royalties and ownership rights.
Despite the hype, the NFT market faces challenges such as sustainability concerns and speculation-driven volatility. However, as more industries adopt NFTs, their utility will continue to expand.
