Decentralized Finance is probably the strongest usecase
...u effectively turn a piece of digital art into a yield bearing instrument, that can be collateralized (according to whatever User X will pay for it) and borrowed against, fractionalized, lent out, etc.
Other uses include
- to pass on royalties or copyright (could be useful not just for art, but music as well)
- a ticketing system, or proof of attendance
- pair NFTs with physical assets, to give digital representations or ownership rights
- gaming , eg. ownership of in-game assets/items
NFTs are just smart contracts, that essentially execute if / when rules.
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ProjectWeasel The Bird is the Word, Tue 21 Dec 2021, 23:34,
Reply)
The art is fairly irrelevant to all this isn't it?
You might as well be 'collateralising' a pebble off the beach. As long as you can persuade someone to buy it, you're good to go. The conceptual framework behind it all seems very shaky indeed
(, Wed 22 Dec 2021, 9:08, Reply)