5 Best Future Use Cases for NFT in 2022 – Gadgets to Use

NFTs or non-replaceable tokens have become the new attraction in the cryptocurrency and Metaverse industry. People are already excited about it. It has the potential for good returns for early investors. But beyond its value, people are confused about its real uses and implementations. So in this article we will help you understand some possible use cases for NFT and show some examples of where they are already being used.

Use scenarios for NFT1. NFT identification cards and documents

We all carry ID cards with us every day. There are apps for storing documents and IDs, but there is always a security issue. With NFTs, your documents are stored in the blockchain that no one but you can access. And it’s nearly impossible for anyone else to manipulate or steal your data. It will also help reduce false and fake IDs.

This system is starting to gain momentum. For example, on December 28, 2021. Our Prime Minister launched blockchain-based Digital Degrees at the 54th Convocation Ceremony of IIT Kanpur. These degrees are verified and issued globally on an in-house blockchain-based system that is part of the National Blockchain project.

Another good application is NFT based vaccine passports issued by the Republic of San Marino for those who have been vaccinated.

2. Game and Sports Collectibles

Gaming has a huge market for NFTs. We know you can buy skins and camos in games. But imagine how nice it would be if you could take those skins with you to other games you play? Or if you could rent out your skins to someone for 30 days and even sell them? This is the future NFTs can help achieve.

One of the largest blockchain based games Axie Infinity allows you to buy NFT creatures and items to use in the game or sell these creatures in exchange for cryptocurrency.

The sports industry is a huge market. Sports collectibles such as tickets, hats, balls and other valuable items are kept or sold at huge margins. NFTs can be used as digital tokens to sell game highlights and iconic moments. You can own the NFT of the winning highlight of a match. And the value of such items increases over time depending on the fan base.

Recently, the art of Cricketer Dinesh Karthik’s victory in the India vs Bangladesh match was sold at auction as an NFT. The NFT had a voice-over from the player himself. The auction was held on rarible.com and the winning bidder also won a signed jersey.

NBA and WNBA are selling Top Shot Moments tokens. These are digital collectible tokens of popular highlights in the game, such as a video of a player taking a winning trick. These NFTs are sold on the NBA Top Shot platform.

3. Domain name NFT