Non-Fungible Tokens are getting their way into almost every industry and are getting upgraded with new utilities daily. NFT trading platforms are becoming hotspots for people who love art, games, music, sports, movies, and whatnot. NFTs will get bigger and bigger in the future, and they will be a part of everything in the future. Why are NFTs getting huge attention? And what will be their future? What are the trends surrounding these tokens? Here is everything you need to know about the popular 3 letter word Non-Fungible Tokens.
The future of NFTs and Current Trends
If you type NFT in a search engine, you will be loaded with a number of search results. It is indeed difficult to pick one definition that would give a better understanding of NFTs. To make it simple, NFTs are tokens in the blockchain with unique contract addresses that gives the owner of a digital file. The digital file can be anything from a jpeg image to a tweet. Yes, you heard it right, Jack Dorsey- the former CEO of Twitter, sold his tweet for over 2 million dollars as an NFT.
NFTs are now used in the following sectors
- Birth certificates
- Land records
- Medical records
- In-game items
- Event tickets
- Flight tickets
- Luxury brands
- Wearables and more
The above-mentioned are just an example that is not confined to those sectors alone. The E-commerce industry, supply chain and logistics, and more sectors are still doing their research on using NFTs in their respective sectors.
The Bottom Line
NFTs are unquestionably taking over the world, and they are making their way into everything. Though it all started with Ethereum, today, every blockchain is improving its ability to host NFTs now. Some Blockchains, like Flow, were designed specifically to host NFTs. With the best NFT marketplaces releasing various new features for NFT enthusiasts, NFTs will undoubtedly take off, busting all bubbles.
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