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Issue #6: Can NFTs be Used Outside the Metaverse?

Web3 and Blockchain Trends by Daccred
Web3 and Blockchain Trends by Daccred
In this post, we would look at a few NFT use-cases and I would be using real-life to loosely translate to “outside of the metaverse”.

Other Use cases..
Real Estate
NFT popped into the eyes of the public in March 2021 with the $69 million Beeple NFT sales. Since then we have experienced a surge in the increase of NFT popularity.
Currently, lots of people think NFTs are solely for artists, musicians, photographers, and the like. This is partly caused by the huge sales of crypto punks, an art that is considered by many as unnecessary. As expected, the sale of crypto punks brought with it lots of imitations from different creators who are trying to benefit from the NFT space.
This huge increase in the imitation of perceived needless art has flooded most NFT marketplaces. Sadly, this will go on for a long time as NFT offers artists an opportunity to own and benefit from the residual sale of their works. But, NFT is not limited to just art. This innovative technology has come to disrupt a lot of things as we know it. This article is crafted to educate readers on the real-life uses of NFTs.
One very important thing we should know is that the concept of NFTs has made the tokenizing of real-life properties a lot more feasible. The most popular real-life use case in NFT is Real Estate. A lot of real estates agents are keying into this new phenomenon. At the time of this writing, a house on Gulfport is going to be sold today on the blockchain, and rights of ownership will be transferred to the buyer. This house is going through a bid at the auction by the owner Leslie Alessandra. When this deal pulls through, it will be the first house sold on the blockchain in the United States of America.
There is no question of the real-life use case of NFT. The main question is, what are the opportunities? Apart from the ease and the complete cut-off of unnecessary intermediaries in the sale of real estate sold on the blockchain, NFT also offers another unique feature in addition to what it already provides in real estate.
In traditional real estate, there is no such thing as two people owning a house. You can either buy the real estate with your asset or you pay by a mortgage (little by little). NFT, however, has offered a feature of fractioning. That means, more than one person can own a home. You should know that the concept of NFT is such that the drawing or portrait of the property being put up for sale would be minted on the blockchain with its metadata (unique details).
This allows separate parts of the same apartment to be minted and sold differently. Take, for instance, a property with the main building, boys’ quarters, and a separate car garage building. All of these parts of the same property can be sold independently through NFT.
Apart from real estate, there are other real-life use cases for NFTs. Ticketing is one. Organizers of events can mint several tickets that they want as NFTs. They could either code the price of the NFT tickets or sell them at auction if the event is very valuable, which would require people bidding for the tickets.
Another use case is receipts. The evidence that a particular customer owns a product. The idea of minting receipts as NFT is close to that of real estate. You buy a product and the receipt is sent to you as an NFT. This would reduce the theft of tangible products as the evidence of ownership is an NFT that can only be transferred by the owner.
From the above-stated use cases, it is clear that NFT is not just about crypto punks and crypto kitties. It is much more and has the potential of changing the regular ways we go about doing things.
All of these credentials can easily be created using Daccred. A web3 no-code platform that lets you create credentials for your community, customers, and students like event passes, receipts, certificates as NFTs. You should check it out and the experience is Canva-like.
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Web3 and Blockchain Trends by Daccred
Web3 and Blockchain Trends by Daccred @daccred

Draft, Design and Issue Web3 Credentials (Certificates & Badges) as NFTs to your students, participants and community on any blockchain.

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