NFTs have already had a deep impact on the art, brand promotions and gaming industries, however following best use case might come back from the ticketing world.
The idea of nonfungible tokens (NFT) came into existence in 2015, and it initial got some traction in 2017 once several outstanding digital collectibles like CryptoPunks and EtherRock were created.
NFTs got early traction among premier sports clubs however burst into thought quality once digital creator Beeple’s design was sold as an NFT for over $69 million. The Beeple event caught the eye of the globe and tried to be a breakout movement for the NFT scheme.
Today, most of the mainstream household brands, premium sports and clothing brands, celebrities, sports stars and influencers have gotten concerned within the NFT delirium. whereas several believed the hype and delirium round the market would become the reason behind its downfall, the NFT scheme has seen a fast growth beyond the digital collectible market.
Gaming is another key trade that NFTs have wedged quite considerably, with play-to-earn (P2E) and integrated NFT rewards turning into all the craze in 2021. Games like Axie eternity became a supply of bread and butter for several in Vietnam, and market specialists have foretold that at intervals ten years, the bulk of the video games can have turned to P2E models.
While digital collectibles and therefore the vice industry have become 2 of the foremost well-known use cases of NFTs, there are many other industries wherever the use of nonfungible tokens is on the increase. In one outstanding example, the ticketing trade is eyeing an overhaul by integrating NFTs.
( Prashant Jha, Cointelegraph, 2022 )