You Should Be Aware Of 3 Uses Of Nft Crypto Art


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These promising projects are flying under the radar…so far

What makes a $200,000+ nft crypto coins different from any other file that anyone may right-click and save? The same thing that makes a Louis Vuitton or Gucci bag more valuable than the knockoffs sold on NYC's Canal Street: People will be able to tell if it's real or not.

We can recognize thin, cheap materials and poor stitching on a knock-off handbag, just as we can spot thin, cheap materials and sloppy stitching on a real handbag... Twitter (NYSE:TWTR) can examine the Ethereum (CCC:ETH-USD) blockchain, evaluate your proof-of-ownership using MetaMask, Trust Wallet (CCC:TWT-USD), or another crypto wallet, and confirm that you own an NFT profile image.

You can save a non-verified profile picture by right-clicking and saving it. People will be able to tell if you truly own that Bored Ape you're sharing, or if you're just making fun of Justin Bieber, because each nft crypto art is unique ("non-fungible").

That digital "certificate of authenticity" on the blockchain confirming you're the owner has plenty of uses in the New Digital World. Three of the more interesting use scenarios are listed below.

Without a question, as NFT markets develop and mature, they will face some challenges. However, for every negative story concerning NFTs, there are a slew of intriguing projects you may not be aware of...yet. Let's have a look at what we've got.

NFT Tickets & Event Perks

How can NFT Ticketing disrupt the ticketing industry? 

How can I buy NFTs? It may be more convenient to purchase tickets online, but there is typically a catch. Several of them, in fact, add up to a significant amount of hidden fees...with no discernible purpose other than to profit organizations like Ticketmaster! The following tweet from The Root's Michael Harriot is humorous, but anyone who has used Ticketmaster will understand:

NFT Tickets & Event Perks

You can How can I buy NFTs instead on blockchain platforms like Yellowheart, and only 5% of your money goes to the "secondary take" — the remaining 95% goes to the artist! The NFT's smart contract may also be configured to prevent ticket scalping and counterfeiting.

It appears that Ticketmaster recognizes the ramifications and has made a minor concession to them: On the Polygon (CCC:MATIC-USD) network, Super Bowl LVI attendees received "a gratis, personalised NFT." "To remember gameday, each NFT featured their unique section, row, and seat, offering a digital memory from their Super Bowl experience," according to the NFT.

This was nothing more than a "digital ticket stub"... However, Goldenvoice, which hosts the Coachella Valley Music & Arts Festival every April, appears to be considering moving to NFT tickets on the Solana (CCC:SOL-USD) blockchain via crypto exchange FTX.

If you watched the Super Bowl, you may recall that FTX ran a crypto commercial with Larry David called "Don't Miss Out on Crypto." Sam Bankman-Fried, the founder of FTX, is a crypto influencer — and a big supporter of Solana, which has faster, cheaper transactions than Ethereum.

Coachella hasn't entirely eliminated regular tickets yet, but it has offered 10 lifetime passes, represented by digital art of keys, thanks to FTX's support. Coachella generated roughly $1.5 million by auctioning off each key, which included a slew of luxuries like "all-inclusive dining experiences."

Music NFTs

Here's How NFTs Could Define The Future Of Music

It's not just concerts: musicians may use NFTs to bypass the intermediary and deliver their work straight to fans.

One such platform, OurSong, is backed by John Legend and aims to enable "everyone to turn stories, music, photography, and any kind of art into NFT trading cards."

Vibes are the name given to OurSong's NFTs (which are based on Ethereum). They're also more like becoming a member of a fan club than simply purchasing a song on iTunes: "Vibes provide you access to exclusive content and secret chat rooms where you can meet like-minded people," OurSong explains.

OurSong intends to make it simple to get engaged with NFTs on its platform for fans of the musicians who aren't interested in crypto (yet). According to Forbes, "you can bid on Vibes directly in USD, which OurSong then converts to Ether and exchanges for an ERC20 token."

But, would these NFT music platforms be able to quickly win over musicians? Early adopters like Steve Aoki are very adamant about the advantages:

“In the 10 years I’ve been making music… six albums, and you [combine] all those advances, what I did in one drop last year in NFTs, I made more money.”

Traditional music label contracts are typically detrimental to performers, if not outright exploitative. Nowadays, everyone listens to music on the internet... and on sites like Spotify (NYSE:SPOT), creators are frequently paid cents per stream (if they are paid at all!).

NFTs, on the other hand, let musicians and other producers to directly monetize their fan bases. As a result, we, the fans, may directly stream NFT music; there's no need for Spotify, Apple Music, or any other premium services that don't help our favorite artists.

NFTs to Cars & Houses

NFTs will start cars, open houses, gate real world events ...

I'd simply say to everyone who still thinks "NFTs are worthless," "How about an Alfa Romeo?"

The Tonale, a plug-in hybrid SUV crossover, is the legendary Italian luxury automobile brand's first "electric-adjacent" product, and each Tonale comes with its own NFT.

Many more corporations are already getting on the NFT bandwagon as a marketing strategy...

Alfa Romeo, on the other hand, is utilizing NFTs for their true value: blockchain data. The ownership and maintenance records for each car will be recorded in the NFT. You won't have to pay $40 every time you want to obtain a CarFax vehicle history report. Simply return the Alfa Romeo to the dealer for service, and the data will be recorded in the NFT.

According to AutoEvolution, "this will ultimately assist enhance residual value" when it comes time to sell the automobile to its next owner.

It's not difficult to envisage receiving a car's title through a blockchain transaction, too, with the correct legal structure in place.

In the meantime, you can now even buy a property on the blockchain! That's exactly what one homebuyer did last week, paying 210 ETH (equivalent to $654,309 at the time) for a five-bedroom Spanish-style mansion in Gulfport, Florida.

The buyer of this Florida home who won the auction will now "possess the property via a limited liability corporation (LLC) that houses the NFT," according to Blockworks, "which reduces closing time."

Propy, whose first NFT real-estate auction was for TechCrunch founder Michael Arrington's flat in Kyiv, Ukraine, facilitated the transaction. Propy's website currently claims, "More properties coming shortly — next property is a condo in Tampa."

I believe that many houses, automobiles, event tickets, and musical compositions will be issued as NFTs in the future. While most of us can't imagine spending six or seven figures for any kind of art, let alone a Bored Ape or CryptoPunk... It's lovely to think about eliminating away third-party middlemen — with all their additional fees and hassle – by embracing the NFT future.


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