NFTs aren’t just a trend, they’re still in their infancy – BeinCrypto

Non-fungible tokens are just in their infancy. According to Mateo Lorenzo, projects that promise real applications of NFT technology are already beginning to emerge.

Many still believe that cryptocurrencies and non-fungible tokens (NFTs) are only for “geeks”. However, the pandemic, the war and the metaverse have accelerated the transformation of this sector. Now, crypto and NFTs give us a better world that we can all benefit from.

Today, NFTs and cryptocurrencies are hitting the most unlikely industries, including entertainment, media, spirits, and even traditional banking. And since NFTs are all the rage right now, everyone wants to have their token. However, many people ask questions like: Why are NFTs valuable? And why are they unique?

Why are NFTs unique?

An NFT or non-fungible token is a digital asset quite similar to a cryptocurrency. Indeed, these two asset classes are based on blockchains. The main difference is that NFTs cannot be split, shared or eliminated. Therefore, they are unique and valuable assets that retain their originality.

Although the development of NFTs is still in its initial phase, projects that promise real applications of this technology are already beginning to appear.

The music industry was one of the first to take interest in the cryptographic technology of NFTs. It was followed by digital art which quickly became its main driver, and then by the streaming industry. The television and film industry in general is already preparing to take advantage of the advantages offered by the world of crypto.

NFT: empowering artists

Non-fungible tokens offer several advantages to players in the entertainment industry, including:

  • They allow musicians to tokenize their works by turning them into non-fungible tokens. Singers, songwriters, artists, and producers are beginning to use NFTs to promote their work and gain exclusive economic benefits.
  • Content creators can offer special NFT packages that provide access to exclusive content. For example: bloopers, backstage, special dedications, etc. Indeed, the very essence of an NFT is its exclusivity. They can also give access rights/permissions and allow their transfer.
  • They make it possible to create premium access offers. If the holder wishes to transfer their NFT, access will be revoked and granted to the new owner. This way, you can link a Netflix or Disney Plus account with an NFT.
  • They offer nominative and secure access to the sale of tickets for public shows, which is a solution to the problem of resale or overpricing of tickets.
NFT

Benefits

No one can deny the benefits and changes that NFTs have brought to simple commerce and transactions. It is obvious that the era of NFTs and crypto assets is just beginning.

Moreover, I have no doubt that anyone reading this article or trying to understand what this industry is all about, is already thinking about the changes and benefits it can bring to their areas of business.

One thing is certain, nothing will be left out. The world of crypto is not a fad, it was born more than 14 years ago for a specific need and today all the uses it can achieve in the short term are being defined.

What some call a “fad” or simply “a trend” is indeed a mechanism that provides us with more security for our possessions, assets and valuables.

The world of entertainment now goes hand in hand with NFTs. It will therefore be an increasingly safe sector. Other industries will eventually join us to ensure the safety of their consumers and enjoy additional benefits.

About the Author

1655006691 479 NFTs arent just a trend theyre still in their infancy

Matthew Lorenzo is the Marketing Director of MKT padlock, a digital marketing agency specializing in Blockchain industry projects. He entered the crypto world in 2013 while still in college. Matthew has invested all of his savings to ensure the reliability of the crypto ecosystem. He graduated in Media and Entertainment Management and teaches at the Universidad Argentina de la Empresa. Throughout his career, he has specialized in digital marketing, events and political communication.

Disclaimer

All information on our website is published in good faith and for general information purposes only. Any action taken by the reader based on information found on our website is entirely at their own risk.

We want to thank the author of this short article for this amazing material

NFTs aren’t just a trend, they’re still in their infancy – BeinCrypto


Our social media profiles here and other pages on related topics here.https://metfabtech.com/related-pages/