Non-Fungible Tokens (NFTs) have taken the world by storm, with people using them for everything from digital art to sports trading cards. But there are also some unconventional ways people are using NFTs that may surprise you. Here are five unique uses of NFTs that are gaining popularity.
1. Virtual Real Estate: NFTs are being used to buy and sell virtual real estate in online worlds such as Decentraland and The Sandbox. These virtual worlds allow users to buy plots of land and build on them, and NFTs are used to represent ownership of these plots. Some virtual properties have sold for hundreds of thousands of dollars.
2. Tweets: In March 2021, Twitter CEO Jack Dorsey sold an NFT of his first tweet for $2.9 million. This tweet, which read “just setting up my twttr,” was turned into an NFT and sold on the platform Valuables. This is just one example of how NFTs can be used to represent digital content that has cultural or historical significance.
3. Virtual Fashion: With the rise of virtual worlds and gaming, virtual fashion is becoming a lucrative industry. NFTs are being used to represent digital clothing and accessories that can be worn in these virtual worlds. The benefit of using NFTs is that they can be bought, sold, and traded just like physical clothing.
4. Memes: The internet is full of memes, and some of them have become cultural touchstones. NFTs are being used to represent ownership of these memes, allowing people to buy and sell them just like any other asset. In March 2021, the “Disaster Girl” meme sold for $500,000 in the form of an NFT.
5. Music: NFTs are being used to represent ownership of digital music and other audio content. This allows artists to sell their music directly to fans, without having to go through traditional music distribution channels. In March 2021, musician Grimes sold $6 million worth of NFTs that included music, art, and videos.
In conclusion, NFTs have many unconventional uses that are changing the way we think about ownership and value in the digital world. From virtual real estate to celebrity tweets, NFTs are being used to represent ownership of digital content in ways that were previously impossible. While some may view these uses as frivolous or unnecessary, they represent a new frontier in digital ownership and are likely here to stay.
