As of the year 2022, NFTs are still a relatively new invention. Despite the apparently endless possibilities of the technology, general adoption is still a long way away. There’s no telling where NFTs will go from here, but there have already been several interesting application cases:
In order to “save thousands of lives” by supporting their initiatives to educate families simple, low-risk health skills to enhance health outcomes for themselves and their communities, nonprofit Noora Health received 1337 ETH (about $4.4 million).
In the fall of 2021, Gary Vaynerchuk plans to open the first NFT restaurant. Token holders will have access to the restaurant/lounge through this venture.
Tickets for events and concerts have and will continue to be issued using NFTs. The integration of NFTs into standard ticketing systems can be assisted by firms.
An NFT platform for securing medical consent agreements and transactions is being developed by Hedera Hashgraph.
The Bored Ape Yacht Club, an NFT initiative, has raised/donated 382 ETH to various animal and charity groups through a community-driven crowdfund.
Financial services giant Visa has become the first major payment network to settle transactions in cryptocurrency, and it is doing it on the Ethereum blockchain. NFTs were recognized as “historic commercial artifacts” when the corporation bought a CryptoPunk.
We should expect to see NFT games, collectables, events, exhibitions, and more in the near future. The pace at which initiatives and undertakings may be developed and launched has expanded enormously as commercial and institutional interest grows on a monthly basis.
NFT technology is sometimes compared to the internet’s inception as a watershed moment, and it will surely go through several stages of growth in the future. In this early stage of adoption, the ecosystem appears to be ripe for new innovations that will open new doors for non-fungibles everywhere. There is a silver lining to this story? You’re still a few hours into the day. Take a deep breath and buckle up!
Source: Metaverse News
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