In 2021, NFTs seized the world by storm, ushering in a digital creative revolution while also becoming one of the year's fastest-growing asset classes.
Non-fungible token technology has enabled artists to sell digital originals without the use of middlemen, while also receiving royalties on secondary sales of their work. However, this is only the beginning of the capabilities that non-fungible tokens bring to the burgeoning web 3.0 world.
This image, sponsored by NFT.com, shows how NFTs are already forming communities, providing unique and tradeable gaming assets, and setting the groundwork for the future. the metaverse's basis for ownership and identity
How NFTs are Changing the Face of Digital Ownership Today, non-fungible tokens (NFTs) give a comprehensive history and evidence of ownership for digital assets, as well as any other asset represented by a non-fungible token. This feature allows you to create one-of-a-kind digital assets and items that anybody can buy or sell on an open market.
Today, NFTs have progressed to become more useful in a range of industries:
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• Tradeable game assets • Keys to digital communities
• Control over your metaverse username and assets
NFTs are laying the groundwork for digital communities, economies, and assets as the online world transitions from web 2.0 to web 3.0.
- The Use of NFTs in Online Communities and Events
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The usage of non-fungible tokens as "membership passes" to a digital community was one of the first evolutions in NFT use-cases. Ownership of NFT profile photo collections such as CryptoPunks and Bored Ape Yacht Club (BAYC) naturally became linchpins around which holders built communities. Today, profile image NFT collections like Oni Ronin have expanded on this concept, allowing access to exclusive workshops and ceremonies, free NFT airdrops, and prize raffles for Oni Ronin NFT collectors.
NFTs have been utilized to provide exclusive access to in-person events as well as online groups and events. Because NFTs give irrefutable proof of ownership on the blockchain, the technology is well suited to address major concerns in the event ticketing industry, such as forgery and digital theft.
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