Non Fungible Tokens | NFTs
As our lives are becoming more virtual in the years to come, NFTs will grow beyond digital photos, videos, and assets for games.
NFTs have numerous applications in the real estate and financial market that will flourish and become the norm for transactions in the near future.
What are NFTs?
NFT, which is an acronym for 'Non-Fungible Token,' is a "unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership," by its dictionary definition.
NFT Real-Life Applications
NFTs are much more than immutable digital representations of over-priced art or collectible felines. NFTs have the power to shape the future of ownership in just about every area of our lives, and they’re becoming mainstream and impossible to ignore.
Due to the unique identity nature and the difficulty to replicate them, NFTs are finding their way rapidly into real-life applications where this technology is needed. Applications are innumerable, and we will see more coming into the limelight.
Some of the NFT applications include
Every form of identity verification documentation in physical form could be built as an NFT securely on the blockchain, including passports, company IDs, vaccination certificates, and much more.
In the healthcare industry, data security and data privacy are of utmost importance. NFT’s can play a major role in allowing comprehensive personal health data to be tokenized and securely stored.
It currently takes a tremendous amount of paperwork to buy a property or open an equity line. With an NFT, the transaction process is streamlined, allowing a buyer to assume ownership of a piece of real estate within minutes.
Real World Assets
A Real World asset NFT (rwANFt) is a token that signifies virtual ownership of a physical object. Just like digital NFTs, the token attached to a rwANFT proves ownership as well as establishes legal contracts of warranty, insurance, enforceability
Tickets for events, rides and activities can be minted on blockchain platforms as NFTs. This significantly reduces forgeries and adds a sense of memorabilia as NFT tickets can be stored and resold as collectibles.
Art & Music
Music and Artworks are cufrrently one of the biggest apllicatoins of NFTs.
Transactions using NFTs allow audiences to own and trade unique collectible content from renowned artists
At Hexus we have a talented and experienced team that will help you conceptualize, design, develop and launch your own NFT and make practical use of NFTs in order to provide greater value to your clients and users.
We execute a comprehensive strategy from the idea, design, development, launch and promotion of the project.
Contact us now for a free, no strings attached consultation