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NFT Ideas – Introduction
NFTs, investment, and gaming are all examples of non-financial transactions. NFTs have become popular, new NFTs are forming, and participatory NFTs are rapidly growing.
And, if you haven’t looked into NFT projects recently, and you want to start working and earning money on NFT but don’t know where to start, sign up for an NFT consultation, and we’ll go over everything.
Art and collectible NFTs were largely “possible” concepts a year ago, but no one outside the crypto world took them seriously.
Do you see what’s going on right now? – NFTs can fetch hundreds of thousands of dollars, if not millions of dollars, and the market is booming.
1. NFT Games
2 million individuals play with Axie Infinity’s small balls every day, which are now worth $3 billion.
Because “the development cycle for games is little lengthier than for smaller art and collectible items,” we haven’t seen a widespread acceptance yet.
Research demonstrating that consumers spend five times more time in a blockchain game than in a traditional game first motivated Jamie Burke, CEO of Outlier Ventures (a British startup financing firm and accelerator lab).
Skeptics were originally “offended” by the study, he added, but then Axi appeared.
Axie is proof that if a player can abandon the game and withdraw cryptocurrency, and then “do whatever the hell they want with the money,” they will spend more money on the game.
Right now, it may seem obvious, but Axie is only the beginning of a far larger gaming boom that will be “massive in the next decade.”Jamie Burke, CEO of Outlier Ventures
2. NFT Fashion
Brands from the upper echelon enter the NFT market.
Dolce & Gabbana sold its first nine-piece NFT collection, “Collezione Genesi,” for $5.6 million, a bizarre mix of haute couture and blockchain.
Auroboros, which bills itself as “the first fashion house to mix science and technology with physical design,” debuted a range of digital apparel you can “wear” using augmented reality (AR) just two weeks prior at London Fashion Week.
This was not the case at the crypto conference, for example.
Consider the Bored Ape Yacht Club’s collaboration with The Hundreds (high-end streetwear), who made goods for the community.
NFTs may open up new avenues for monetizing and investing in fashion; perhaps new financial instruments fuelled by NFTs will allow consumers to invest in the industry.
You can build financial products like an index of today’s best-selling sneakers, which allows you to invest in a pool of the top 100 sneakers rather than taking a chance on a single pair.
3. DeFi NFT
Let’s imagine you invested your last $5 million on CryptoPunk NFT, but now you’ve realized you’ve made a mistake. You failed to remember to pay your rent.
It’s no problem.
NFTs enable you to employ some novel asset behavior models, which you can learn more about in my NFT podcast.
When you pledge CryptoPunk, you will instantly receive it when your debt is paid off.
What if something goes wrong?
The NFT is delivered to the lender via smart contracts, removing the need for debt collectors and bounty hunters, and that’s just the beginning.
In the future, we will see NFTization of things that already exist in traditional finance, such as a deed to your house, a passport, a birth certificate.
4. Ticket sales and Events overview
Assume that the ticket you purchased is an NFT, and that your NFT has the following six functions:
- It is decorated with works of art from the designer you like.
- It functions as a concert commemorative card, therefore it may be worth something in the future, similar to vintage Beatles concert ticket stubs.
- NFTs can be used to buy snacks or alcohol within the venue.
- The income from your NFT is automatically paid to the Artist, 40%, DJ, 10%, lighting crew, 2%, janitors, and so on, thanks to the miracle of smart contracts, and no intermediary is necessary to organize payments, which means you pay next to nothing in commission.
- If you purchase a VIP ticket, NFT will give you behind-the-scenes access to the Artist, as well as maybe unique access to future digital goodies.
- Surprisingly, NFT grants you the right to be not only a spectator at the event, but also a shareholder in the Artist’s performance.
You will receive a modest percentage of the income if you use the NFT as concert capital.
You are closer to the future than you realize.
The fact that NFTs are used in the actual world fascinates us.
Take, for example, the upcoming NEARCon conference in Lisbon, which is based on NEARProtocol, Mintbase’s smart contract framework that replaces Ethereum.
5. NTF Community
Do you remember Dolce & Gabbana’s NFTs?
Now assume that you were the one who was fortunate enough to purchase it.
Assume you are the proud owner of the Doge’s Crown, the set’s jewel – literally a crown – an almost ridiculously adorned piece of jewelry.
- What about digital NFT, though?
- What are your plans for it?
Consider Dolce & Gabbana as an example.
It’s all about managing retail sales if you’re a high-end luxury company.
Consider a setting where people can congregate, converse, and flaunt their NFTs. Maybe it’s augmented reality, maybe it’s virtual reality (VR), maybe it’s something Web 3.0-style, or maybe it’s something else different.
Consider “a home for NFT communities,” or, more precisely, “a social network for NFT owners.”
Maybe they’re just wasting their time in the metaverse?
6. NFT Metaverse
One of the next turning points in the NFT space will be the Metaverse.
The Metaverse might be a place to save and appreciate NFT art, a hub for NFT games, Mark Zuckerberg’s new life mission, and possibly an updated version of how we all hang out online in one form or another.
7. NFT Virtual Lands
Virtual worlds like Decentraland, The Sandbox, and Cryptovoxels have extremely restricted real estate, which means that if demand rises, the theoretically limited supply will become more expensive.
The possibilities are astounding when you start to wrap your brain around the idea that people might benefit from digital real estate.
Perhaps you possess a plot of land on which you can construct a virtual office building, which you can then rent out for a virtual conference.
And when the conference attendees want to let off steam during cocktail hour, they might want to gamble, so you rent out a casino game where they can win and lose real cryptocurrencies, and sure, it gets a little crazy.
8. NFT Digital Identity
Self-identification (SSID) has long been one of the most exciting blockchain uses, and NFTs could be the key to unlocking it.
NFT graduate degrees are another option in the same vein.
9. Social Media and NFT
It’s a touch soft, and it is a touch hard to portray.
Consider all the virtual blessings that social media structures provide, such as “on-line have an impact on,” that’s a nebulous and hard-to-quantify concept.
This “effect at the NFT,” as we will name it, could be greater complex than sincerely profitable for the range of Twitter followers.
NFT can affect variables such as:
- online reputation
- create good content
- ability to supervise
Any digital value stream can theoretically be made into an asset; possibly this NFT will be incorporated in the DeFi ecosystem as collateral for a loan.
Look at the Rabbithole.gg initiative, where users can earn cryptocurrencies, tokens, or NFTs by proving they have particular talents or completing certain tasks, such as registering for the ENS name.
Galaxy.eco, for example, aims to harness web data to reward consumers for certain verifiable acts…
10. Music and NFT
Live Nation aspires to do for music what Top Shot did for basketball: collect “moments.”
“Magical moments that we can mint and tie to our current ticket festivals and exceptional events,”says Live Nation.
Alternatively, NFTs, music, and DeFi might all be combined.
Consider this scenario: each song’s rights are fixed as NFT, and you pool the top 40 songs of the month, split the pool, and then sell a portion of the pool for streaming money…
Read Also: HOW TO SELL NFT FOR A PROFIT