It’s about to be an NFT world, so get ready to jump into it.
NFTs may have started with artwork, digital collectibles, music, and items in video games — but are quickly accelerating into the world of IRL transactions.
NFTs (Non-Fungible Tokens) are cryptographically unique tokens that have traditionally been linked to digital content, providing proof of ownership.
NFTs are digital assets that contain identifying information that is recorded in what are called smart contracts. And it’s this information that makes every NFT unique, and as such, cannot be directly replaced by another token. In short, they cannot be swapped “dollar for dollar”, as no two NFTs are alike.
And it’s this success of providing proof of ownership which has spurred this current onslaught of NFT projects, NFT marketplaces, and NFT-based games — and this opportunity for NFTs to now bleed into ownership of IRL assets.
Today, VIP access to IRL events at conventions, conferences, and festivals are already being gated by ownership of specific NFT projects.
But now as sales of virtual property in the metaverse starts to get all kinds of traction with NFTs serving as the deeds to these properties — it’s not at all inconceivable to understand how easily transferable this could be — to not only show proof of ownership but access to IRL real estate as well.
It’s fast becoming a brave new world — by virtue of owning a specific NFT one can now show proof of identity as being a member of a specific community — and by owning another show ownership of property — while each providing exclusive access to any related in-real-life events and properties.
So whether you believe in NFTs & the metaverse, or are not quite just there yet — much in the same way your Amex Black Card, United Airlines Premier Status, and Costco Membership all provide you with certain amenities and access — NFTs are fast becoming the next newest and immutable standard.
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