Good day #KalaArmy
We have another article to help you get a better understanding of NFTs before the official reveals of our PEN/PENCIL NFTs collection. Today we’ll take a look through all the common types of NFTs. If you’re reading this and don’t know what NFTs are, you can first check out our quick rundown of NFTs here.
A collectible is any object regarded as being of value or interest to a collector. For NFTs, in most cases, they’re trading cards NFTs.
Collectibles or Trading Cards NFTs is not only popular but also the first widely known use case of NFT all started by Cryptokitties, unique digital kittens which became popular among collectors in 2017.
Artwork as its name implies is a work of art, art piece, piece of art, or art object that is an artistic creation of aesthetic value.
Artwork NFTs are the most popular, or at least, the type of NFT with the most NFTs in circulation accounting for 99% of all NFTs.
NFTs can also be used in the form of event tickets facilitating the verification of people’s tickets and identities. Organizers of popular events such as concerts and music festivals can utilize a selected blockchain to mint a limited number of NFT tickets.
These tickets can be purchased at auction listings and then stored in mobile devices through wallets for easy accessibility.
Music and media
Yes, music can also be an NFT. Media files and music can be linked to NFTs with the true ownership claim given to an individual. When compared to traditional digital music distribution NFTs offer unlimited opportunities. While music streaming platforms offer only licenses to listen to the paid tracks offering no ownership. Music NFTs unlike music streaming platforms offer buyers collective or sole ownership over that particular limited NFT file.
GameFi is still the hottest crypto trend in the last year so it’s no surprise that game NFTs are a thing. NFTs are used by developers as in-game content like characters, skins, items, DLC assets, .etc. This helps drive the growth of in-game economies through immutable ownership records for in-game items.
Big Sports Moments
NFTs of course can also be video clips. And the best use case for this is to capture big moments in sports like a game-winning shot in basketball or a game-changing touchdown in football. They don’t have a physical equivalent like other NFT types but the historical significance is priceless.
Hear me out, people buying virtual clothes that can’t be used in real life is actually not uncommon, even way before NFT. Fashion NFTs are unquestionably reserved for the more fashion-conscious and opulent individuals. You can use NFTs to style up your online avatars instead of buying NFTs artworks.
The idea that NFTs are all virtual and don’t have physical value has quickly become outdated. The cryptographic proof of ownership that NFTs provide makes it possible for it to reflect real-world assets. Many NFT projects are currently focusing on the tokenization of luxury items and real estate. You get more options when buying a house or a car using NFT deeds.
Meme coins like Shiba Inu or Doge are a thing so Memes NFTs are no exception. Memes are a crucial part of internet culture and meme creators can now monetize their memes using NFT.
NFTs also allow users to register and sell domain names. NFT Domains are new web extensions (like .com or . info) launched as smart contracts on public blockchains.
NFT Domains are stored in a wallet by the owner, much like a cryptocurrency, and no third party can take them away. Pay once, and you own the domain for life, with no renewal fees.