What is NFT and the most common use cases ?

What is NFT and the most common use cases? There are two types of tokens: Fungible Token (FT) and Non-Fungible Token (NFT). For FTs, their main feature is that they are divisible and interchangeable.
Popular FTs include Ethereum, Bitcoin, and Cortex. For NFTs, they include something unique, so they’re not replicable.
The unique part is written inside the token’s metadata and considered permanent and with an unalterable authenticity certificate. They're particularly useful as the ownership or proof of asset.
NFT can tokenize almost everything, the most common use cases (so far) include:
  1. •Digital Art and Music
  2. •Virtual Assets and addresses
  3. •Gaming items (rare weapons and kins)
  4. •Collectibles Tokenized luxury goods (e.g., wine)
  5. •Real-world assets (ownership)
Let’s talk about a few examples:

Digital Art and Music:

Mostly, the physical artworks are with more collectible value. If you purchase the artwork from a formal resource, you will get a guarantee with a laser label and a steel seal for sure. Nowadays, digital fingerprints for art are becoming popular. The commonly used anti-counterfeiting encryption technology is called art micro-jet. As the art micro-jet canvas is created, the anti-counterfeiting mark is embedded. This mark cannot be reproduced and cannot be seen by naked eyes. It quires scanned and verified by a dedicated App.

Tokenized Luxury Goods:

Let’s use wine as an example, so what’s good to tokenize the wine? Making the bottle of wine’s process will be recorded through the IoT device, from grape harvesting, brewing, packaging to delivery. Since the information stored in blockchains is hard to tamper with, the wine’s authenticity can be reviewed and certified. All information about this wine can be recorded and tracked, including whether the wine is from a specific winery or the grapes' source has been contaminated.


This is a huge market, including trading Jordan sneakers. With NFT, every collectible is unique, and the metadata the hold can be used to identify its authenticity.

Share your thoughts :