This is NOT what the modality was designed for.
Non Fungible Tokens are a tool for ‘everyone’ and are about to be introduced into everyday living.
In short, an NFT is designed as an online (non-tamperable) contract that is both permanent and transparent, with most being part of the Ethereum blockchain.
The true test of the NFT potential lies in what is referred to as functionality is known as a ‘Utility’ meaning what its purpose is and used for.
One day our vehicle registration, driver’s license, and birth certificates will more than likely reside on this platform.
Question: Every purchase a movie or concert access online and they send a QR code and virtual ticket?
This is a simple example of how an NFT can work.
Even if you printed the passes, then lost them and your phone got dropped in water, you could still log into the encrypted site they were purchased through, and just like magic, they will appear on another device as you are the true owner.
Imagine, the day you were born being assigned your personalized NFT with all your data recorded.
This would eliminate someone being able to steal your identity to the need to hold onto that tattered old paper that’s been stored away just in case you may need it one day, as only YOU can be you.
No matter where you were in the world, your information could be easily accessed in case of an emergency or lost documentation.
What to look for:
The next wave of NFT use can already be viewed in the Entertainment space where the movie industry is selling NFT’s as partial ownership in projects along with the music and gaming commerce are doing the same.
Think of the opportunities where people are ‘Tokenizing’ real-world tangible assets in a way that multiple people can share in the success of all that is possible.
There is one community calling themselves the Mastermind Group NFT (a great example of Utility in motion) where membership gains the holder access to their association filled with celebrities, millionaires, and business icons simply by purchasing one.
There is no fancy art attached, just a simple logo with movement to background music.
They meet once a month online or in person and network with one another in real-time.
There is a quote that says “We are a reflection of the company we keep and when we change that association, our lives shall adjust accordingly” with an easy purchase, members instantly have direct contact with people that others could only imagine.
How to buy an NFT:
Step 1) Set up a digital currency wallet like Coinbase, Binance, or FTX
*This is like a digital wallet that holds your crypto funds where you exchange cash for digital money.
Step 2) Create a Metamask wallet and link your crypto wallet accordingly.
*Think of this as a wallet that holds your digital assets like NFT’s and Metaverse land.
The earlier we adopt this new way of doing things, the easier it will be to take advantage of the unlimited opportunities while navigating the world of tomorrow – today!