Article: Future of NFTs – why art is just the beginning

Decentralized Internet, Digital Content

Future of NFTs – why art is just the beginning

I am more than sure that NFTs will make a real revolution not only in the field of art but also become that very “identity”, a digital passport of a person. In fact, with the help of such tokens, it will be possible to vote, record data on work and education there, which will make a real revolution in all areas of our life – after all, the blockchain cannot be fooled.

When Instagram or Twitter irrevocably blocks accounts that they believe violate community guidelines, it seems that we are investing our energy, and time in developing not our digital profile, but these companies (both in terms of user acceptance and advertising revenue perspective),

This does not mean that companies are wrong – they ultimately have the final say on what can and cannot be published on their platforms. But what if we could definitely save all the content created for each platform?

For this to happen, we must truly own our digital content – and therefore our digital identity.

Article: Unique NFT Use Cases: What’s Beyond NFT Art?

Crypto, Digital Content

Unique NFT Use Cases: What’s Beyond NFT Art?

Soon, blockchain developers discovered the larger potential of NFTs. They started looking beyond crypto art and in-game skins. This blog looks at six alternative use cases for non-fungible tokens.

  • Dividends programs
  • Lifetime memberships
  • Academic credentials
  • Ticketing industry
  • Domain name ownership
  • Land registry (virtual and physical)

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Article: (Yonhap Feature) Bubble? No, young Korean artists see crypto art as fresh opportunity

Crypto, Digital Content

(Yonhap Feature) Bubble? No, young Korean artists see crypto art as fresh opportunity

The NFT market will “lower entry barriers to the art scene and encourage more creators to join the market, leading to greater diversity,” the official said.

Globally well-known artist Yoon Da-in, who uses her face and body as a canvas to create optical illusion art, said she was carefully — and positively — reviewing the market.

She said NFTs can offer “important opportunities for me and collectors as my paintings, which only exist for a fleeting moment in time, can now achieve a unique digital status and live on forever in collections worldwide.”

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Article: A cure for copyright ills? NFTs promise to empower creative economies

Crypto

A cure for copyright ills? NFTs promise to empower creative economies

NFTs’ main value proposition is that by creating a unique, blockchain-backed record of each unit of creative work, they can not just encode the sense of its authenticity and scarcity but also enable artists to lay down and enforce the rules around copyright transfer, usage and monetization. G-J van Rooyen, co-founder of blockchain content protection firm Custos Media Technologies, commented to Cointelegraph:

“First, NFTs allow us to securely trace the transfer of rights — in the same way as a Bitcoin payment securely traces the transfer of funds. Second, NFTs can provide perpetual support to creators. For example, an NFT could specify that creators should be rewarded each time an asset is resold at a higher value.”

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Article: The NFT Craze Is Helping Nigerian Artists Go Global

Crypto, Money

The NFT Craze Is Helping Nigerian Artists Go Global

the trend has spread to Nigeria, where local financial institutions are banned from servicing crypto firms. This means Nigerians cannot convert digital assets to naira through traditional crypto exchanges. But that hasn’t wiped out crypto in Africa’s largest economy, thanks in part to its young and tech-savvy population. Users began switching to peer-to-peer platforms to avoid using banks and the use of crypto continues, as evidenced by how local artists like Oyewumi are embracing NFTs.

There are “a lot of great artists out of Africa, and Nigeria, who are focused on physical work, and I’m all for them getting a better understanding of the opportunities of NFTs,” Ugwu said.

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Article: Cryptocurrencies, NFTs & Another Rise Of Blockchain. Ignore At Your Own Risk.

Blockchain, Crypto

Cryptocurrencies, NFTs & Another Rise Of Blockchain. Ignore At Your Own Risk.

Most importantly, as with any new emerging technology-enabled business model, companies should pilot NFTs with cryptocurrency and blockchain.  Start with creating a digital wallet and fill it with some Ether, the cryptocurrency that many NFT marketplaces use (because they use the Ethereum blockchain).  There are a number of sites that sell cryptocurrency, including Ether.  Some of the more popular sites are Coinbase and now PayPal.  Once a company has purchased some Ether they can proceed to OpenSea (or other NFT marketplaces, like Rarible or SuperRare), which is where lots of digital things are for sale.  Companies can buy some things on OpenSea (with their Ether) – and then sell them – all in the spirit of learning how it all works.  They can then browse their own portfolios for something to sell, or consider creating something they can sell.

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Article: Videos Represent the Most Compelling Use Case for NFTs – Here’s Why

Crypto, Innovation

Videos Represent the Most Compelling Use Case for NFTs – Here’s Why

Now, the infrastructure is emerging that allows video storage and distribution to happen in a decentralized way, making it resistant to censorship. In itself, this is a fundamental shift from the way that we consume video today. However, by introducing the ability to create video-based NFTs of the length of an entire TV show or movie, the shift becomes even more significant.

Thanks to the availability of services like Storj and Filecoin, such a paradigm shift is now underway. By combining a video NFT creation platform and marketplace with decentralized file storage capabilities, there’s no need to depend on Ethereum or on any of the centralized data providers like AWS.

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Article: ‘There’s literally no limit’: NFTs could soon be used for cars, real estate, experts say

Crypto

There's literally no limit': NFTs could soon be used for cars, real estate, experts  say | Ottawa Business Journal‘There’s literally no limit’: NFTs could soon be used for cars, real estate, experts say

NFTs – which are essentially a tool that uses blockchain technology to provide proof of ownership of a digital asset such as an image, audio clip or a tweet – are currently a fringe item used primarily by tech enthusiasts and artists, but experts say potential uses for the tokens are nearly limitless, including the proof of ownership of assets such as cars, real estate or just about anything of value.

A non-fungible token is certified on the blockchain (the same technology that ensures the security of cryptocurrencies like Bitcoin), and whoever owns the NFT is deemed the original owner of the asset.

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Article: How nonfungible tokens work and where they get their value – a cryptocurrency expert explains NFTs

Blockchain, Crypto

How nonfungible tokens work and where they get their value – a cryptocurrency  expert explains NFTsHow nonfungible tokens work and where they get their value – a cryptocurrency expert explains NFTs

NFTs have already made significant inroads into the luxury and gaming industries, and have plenty of room to grow beyond these initial applications. The art sector will continue to be an important segment of the overall NFT market and is likely to gradually reach maturity over the next couple of years, although it is likely to be surpassed by other digital certificate applications like trademarks and patents, training and upskilling certificates.

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Article: NFTs are not just for art: As technology matures, more uses will emerge?

Crypto

NFTs are not just for art: As technology matures, more uses will emerge?NFTs are not just for art: As technology matures, more uses will emerge?

Russo believes that the next major growth inflection point for the NFT market will be focused on gaming and decentralized finance: “Right now, the market is capable of understanding NFTs as something you can buy, sell or hold. The next stage of this market will be driven by what you can actually do with the asset class.”

As these industry experts outline, the possibilities of NFTs are as seemingly endless as the blockchain technology that powers them. There’s plenty of attention on NFTs, and it seems like it’s only a matter of time before new, exciting use cases emerge.

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