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NFTs – Beyond Digital Art, What Are Some Of The Use-Case Of NFT?

2 Mins read

Welcome to Bulliscoming Crypto and Finance Media, most people don’t know what NFTs are and the 50% of people who have heard of NFTs – don’t still understand fully what Is NFTs and their purposes

However, a lot of people still think NFTs are just mainly a pics minted on a blockchain, this content will expose you to what NFTs are, how to mint and purchase your first NFT, and some use cases of NFTs

However, this article detailed What exactly is NFT, It Use-case beyond digital Art and how to mint and purchase an NFTs

What Exactly Are NFTs?

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NFTs stand for Non-fungible tokens; a unique digital asset that can be stored in a blockchain to claim ownership of an item; it can be in form of art, photo, video, Gif e.t.c and they can be used to represent both tangible and intangible items or assets. Thus, what are tangible and intangible assets?

Tangible assets are physical objects, something that can be touched; Real or concrete results which can be stored on a blockchain to claim ownership e.g land, buildings, cars, t-shirt e.t.c

An intangible asset can be any valuable property of a business that is not physical by nature that can be stored in a blockchain, including intellectual property, customer lists, beneficence, certificate, document e.t.c

Beyond Digital Art, What Are Some Of The Use-Case Of NFT?

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  • Non-fungible tokens have unique attributes; they are usually linked to a specific asset. They can be used to prove the ownership of digital items like game skins right through to the ownership of physical assets.
  • NFTs are mostly for trading digital art and game character but there are more to this which includes;
  • NFTs can be used to ensure that the product you are purchasing is authentic.
  • NFTs could be used to transfer land deeds, provide proof of ownership and even keep track of changes in property value over time using timestamped NFTs.
  • NFTs can be used to store birth certificates of newborn babies
  • NFTs are also a good way to represent academic credentials
  • NFTs are great for protecting intellectual property
  • NFTs can be used to replace tickets very shortly or party e.t.c
  • NFTs can be used for voting and this will reduce cheating/manipulated votes.

How To Mint And Purchase Your First NFT

To mint, an Nft required a crypto wallet like a binance wallet, trust wallet metamask, or any wallet that has a dapp but a trust wallet or matamask is recommended for mobile.

Choose an NFT market place e.g binance NFTs, OpenSea, Rarible, and SuperRare.

To get started, you’ll first need to open a crypto wallet and then connect it to the NFT marketplace e.g Opensea, Rarible e.t.c

Choose a blockchain you want your NFTs to be minted e.g Ethereum, Polygon, Fantom, Bnb chain e.t.c. thus, the Ethereum blockchain possesses a high gas fee, you can choose a low gas fee blockchain.

Create your unique digital assets and list them on your referred NFTs Market place with a bid price of your choice.

To purchase an NFTs is simple, just head over to an NFTs marketplace, connect and fund your wallet with Eth, polygon, bsc, or the required coin by the creator, and purchase.

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About author
Justice Osamuyimen is a blockchain technologist, a crypto content creative writer who aspires to write educative/ information content on blockchain technology & cryptocurrency ecosystem. He's also a trader and also an investor in the crypto currency field, he's open for multitasking and love his career growth.
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