The idea of Non-Fungible Tokens (NFTs) is becoming increasingly popular, and with it the question of what NFTs should actually be used for. The answer to this question is not as straightforward as it might seem, as NFTs can be used for a variety of uses. One of the most popular applications for NFTs is digital art, but do NFTs have to be digital art?
The short answer is no. While digital art does make up a large portion of the NFT market, there are many other things that can be tokenized and turned into an NFT.
A few examples include physical artwork, collectibles, gaming items, and even real estate. This means that while digital art may be one of the most popular uses for NFTs right now, it doesn’t have to be the only use.
The great thing about using NFTs for non-digital assets such as physical artwork or collectibles is that they allow people to own a piece of something without having to physically possess it. This opens up new opportunities in terms of collecting and trading items that may otherwise have been impossible or very difficult to do so in the traditional world. For example, with an NFT you could own a rare comic book without having to worry about storing or protecting it from damage.
In addition to physical goods, NFTs can also be used for other non-digital purposes such as voting rights or staking tokens in decentralized networks like Ethereum. This opens up a whole new range of possibilities when it comes to how we interact with blockchains and gives us new ways to use them in our everyday lives.
Conclusion:
Do NFTs have to be digital art? No, they don’t!
While digital art does make up a large portion of the current market for NFTs, they can also be used for many different purposes such as owning physical goods, voting rights or staking tokens in decentralized networks. The possibilities are endless!