Although NFTs have a wide range of applications in many disciplines, we focus on creative industries as the most priority.
》Spores Gaming: The gaming industry and non-fungible tokens are a perfect match. Imagine being able to check a detailed history of the magic shield or sword you have just bought. NFTs can provide a proof of ownership for every item within blockchain-supported games. Virtual Real Estate is Booming “Let’s go to Decentraland” is a phrase you might hear in the not-so-distant future. Virtual real estate represents a real potential for investors. Like URL domain grabs of the early Dot Com era, digital land grabs are going for millions. Since its opening to wider audiences in February 2020, Decentraland sold $1 million in virtual land. In Axie Infinity, a crypto-Tamagotchi virtual ecosystem, a community member purchased nine digital plots of land as one parcel for 888.25 Ether. At the time, 888.25 Ether was worth $1.5 million. NFTs are popular in the gaming industry since these tokens solve some of their internal difficulties. For example, popular games today such as PUBG and Fortnite ban the purchase of rare features and items such as weapons. With NFTs, these items can easily be transferred and used.
》Spores Digital Artworks: Blockchain provides provenance, which is proof of ownership and origin of the art pieces. Digital artists find it increasingly difficult to copyright of their artwork. The use of NFTs can enable one to buy a work of art and showcase it within a digital space, being fully aware of the history of the asset, such as artist name, date of creation, list of other owners, and value of the asset throughout its lifecycle. It will also allow the artists to get better payment for their work through the elimination of brokers by initiating P2P payments. After reviewing it all, we can claim that the non-fungible tokens are creating a strong foundation for blockchain and crypto adoption, with a broad spectrum of use cases aiding industries to save money on counterfeit products, copyright issues, while helping people safeguard their data and privacy.
》Spores Digital Collectibles: NFTs has brought a new character to the collectible world. Traditional professionals are now onto digital assets. The use cases of NFTs are developing. A few days back, Jehan Chu, founder of blockchain investment firm Kenetic,divided over $84,000 for 680,000 Handshake (HNS) NFTs, allowing the bearer to issue .NFT web domain extensions via the Handshake blockchain. Chu called NFTs the “true lacking link between online and offline things” and stated his hope that they could convert business, finance, society, and culture. As well as being rare, NFTs help from clarity thanks to their recording on a public ledger, adding a layer of security to collectible assets that people appear to be attracted to.
》Spores Entertainment: Tickets to music concerts or football games are usually unique and interchangeable. They give us permission to see an event or activity. Due to those aspects, the ticketing space could have huge benefits employing NFTs on the blockchain.
》Spores Sport: The sports industry suffers a lot due to counterfeit merchandise and tickets, which blockchain can help in eliminating. The immutability of blockchain prevents counterfeit collectibles and tickets, with the help of tokenized game tickets getting issued on the blockchain network. This is a great use case for non-fungible tokens. Each game ticket might be similar, but each will hold unique identifiable information connecting it with the designated owner on the blockchain. Sports NFTs have gained recent popularity with prominent athletes becoming tokenized assets on the blockchain, and their value getting determined by how they perform. There is ongoing work on turning merchandise into NFTs allowing the owner to register and verify the official merchandise as theirs.
