Mainstream brands are beginning to understand the value of NFT technology and that it’s not a passing craze.
The concept of nonfungible tokens came into existence in 2015, and it first got some traction in 2017 when many prominent digital collectibles such as CryptoPunks and EtherRock were created.
Gaming is another key industry that NFTs have impacted quite significantly, with play-to-earn and integrated NFT rewards becoming all the rage in 2021. Games such as Axie Infinityfor many in Vietnam, and market experts have predicted that within 10 years, the majority of the video games will have turned to P2E models.
In today’s world, tickets to any major concert or event are bought early by hoarders that are then sold at an exaggerated price on these markets in a practice known as “scalping.” With NFT ticketing, this problem could disappear. Artists and event organizers can create smart contracts that govern the resale of their tickets.
NFTs are closing the gap between separate experiences markets. The same NFT can be used to hold access to a concert but also be the key to your hotel stay, visit a nearby theme park, and even the key to your rental car on your next trip.
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