Many people have heard of NFTs, but not all of them know exactly what it means, or else the concept raises some questions. In case there is confusion about it, we will briefly explain what an NFT is:
The non-fungible token (NFT) is a digital asset, which has the characteristic of being unique. No one can copy or clon it. This token is a good that has a certain value (which may increase in the future). The user has possession over it, as well as, for example, copyright.
They are exclusive digital objects that have an owner, for example:
• Other digital content
As this topic is all the rage right now, and expected to be even more so in the future, industries don’t want to miss out on this great opportunity. They all want to be part of it, to be up-to-date and to continue evolving. And if you want to evolve you have to adapt to what is happening today, and today the world is moving more and more through digital and technology.
1. Among the industries that are using, creating or buying NFTs, is the automotive industry. In this 2022 the manufacturers of new cars will link these to NFT.
Mazzanti Automobili is a great example, because this brand released a security token for the manufacture of the Millecavalli R model.
Luca Mazzanti is the founder of this car company. He said that the token “represents a new era for premium luxury car brands to finance and develop their capital.” He believes that this financial instrument makes it possible to create new vehicles with advanced technology. Leaving them with a great advantage over their competitors.
This fact comprises a revolution for the mechanics and the way in which we use the means of transport.
2. Another industry that is dabbling in NFTs is art. This technology secures the copyright of a cryptographic work of art and differentiates what is a copy and what is the original. Cryptographic art comes to put an end to the disadvantages that this environment has. For example counterfeiting, theft or piracy.
In terms of music, the American rock band, Kings of Leon, was the first music band to release a new album in NFT format. The album that was released had a unique and luxurious package, with a different cover and digital downloads of the songs. This was a limited edition, it was not produced again, which means that its value grows as time goes by.
If we talk about pictures and paintings, in 2021, it was opened, in New York, the first physical space in the world, made exclusively to exhibit cryptographic works of art.
For artists it is much more convenient to work with NFT art than to follow the traditional path, since NFTs are 100% digital elements that only exist in digital wallets on a blockchain, also the ease of access to cryptographic art is much greater (since it can be accessed from the comfort of your own home).
3. Professional sports were not far behind. Sports clubs are using NFTs to generate a lot of revenue and giving their fans a unique experience. An example of this would be the NBA, when it created and auctioned off cards containing must-see play snippets, called “NBA Top Shot Moments”.
But basketball is not the only sport that has immersed itself in the world of NFTs, FC Barcelona, and the Blockchain financial technology company Chiliz, launched a token for sale, where only people who own it will be able to participate in surveys and polls of the club, receive prizes, exclusives, among other benefits.
One of the objectives of this industry is that the resale of tickets and their verification is controlled by NFT, as well as autographs and memberships.
4. For the real estate market, NFTs represent many advantages for both sellers and buyers, since the purchase of real estate is much safer, provides lower costs, due to the reduction in the number of intermediaries involved in the purchase process of a property, so this also makes the process shorter, among other benefits.
Tokenization in this type of industry protects the participants, of the transaction and contract, from fraud.
5. Last but not least we have the tourism industry. As announced by the Ministry of Economic Development and Technology “Slovenia will be the first country in the world to issue its non-fungible token (unique and unrepeatable cryptographic asset) to promote its economic achievements and tourist destinations.”
Another example is what EuroFintech did. This Spanish tourism company signed a hotel alliance with 8 hotels in Spain, thus becoming the first NFT, created by one industry of this style and origin, with the goal of digitizing tourism in the region.
There is no doubt that NFT is here to stay and that it is already changing history.
- Gher Sports
- be [IN] crypto
- Diario Popular
- MIT Software
- Industria musical