Other NFT Applications
Note: Data in this section last updated May 28th, 2022
While tech and entertainment may provide some of the earliest use cases for NFTs, their utility does not end there. Indeed, there are almost infinite potential uses for the technology, including:
Consumer Products: NFTs can verify that products are legitimate and also verify their origin
Fashion: Your avatars in the metaverse are going to need clothes! Adidas has already created a collection specifically for the Bored Ape Yacht Club
Real estate: NFTs could be used to provide proof of ownership, transfer deeds and even track changes in property values over time. Real estate could even be “tokenized” with NFTs, allowing commercial properties or apartment buildings to sell their assets to multiple parties
Events and ticketing: Tickets will likely be replaced by NFTs in the near future, reducing issues related to fraud and paper usage
Healthcare: NFTs can store immutable medical records without compromising confidentiality
Digital Identity: Birth certificates, passports, driver’s licenses, etc… can all be made into NFTs
Academic Credentials: NFTs can provide a record of degrees earned, verify attendance and classes taken and a provide a record of performance
Supply Chain: Companies could track their products, from manufacturing to shipping to delivery with NFTs
Advertising: NFTs could be used to track the performance of a specific ad campaign, providing an immutable record of performance and reducing the threat of ad fraud (which is a ~$70M per year problem)
Energy: Companies could use NFTs to track energy usage and trade carbon credits
This is just the tip of the iceberg as almost any physical asset can leverage NFTs to verify ownership, establish provenance, prove authenticity, maintain immutability, and conduct decentralized transactions.
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