What do you know about NFT?
We all know that any digital item like your art, photo, GIF, an MP3 or even a selfie picture and video can be turned into NFT.
Do you know another fact about NFT?
NFT can be more than that all above.
NFTs are blockchain technology, a distributed ledger where all transactions are recorded.
It is a system where all your ‘activity’ will be record, but can’t be modified forever.
In the virtual world, there are several things you can do with NFTs, they are;
- Online shopping
In metaverse you are able to try on virtual outfits before buying.
It is to ensure that you don’t buy ill-fitting clothes or any misrepresented products.
Some metaverses will allow you to buy tokenized clothes in the form of NFTs.
Then, these NFTs can be traded for physical clothing as well.
Besides, you can also buy footwear for your avatar.
As we know, footwear giant company, Nike is already stepping into the world of NFT based metaverse.
The company named “Nikeland”, that allows customer to buy tokenized shoe wear in the metaverse.
Metaverse, fueled by NFTs, will take video gaming to another level.
VR-based multiplayer games are posed to get as real as possible.
You can earn rewards in the form of NFTs.
Then the rewards will boost the gaming world economy.
3. Real estate
When you buy a virtual property in the metaverse you will get an NFT of the virtual land.
The advantage of NFT here is NFT minimizes any chance of real estate frauds.
Such as; forced cancellation, selling without authorization, fake promises, and even delays in possession.
Your property will be safe in the metaverse.
4. Loans in metaverse
As in the real world, metaverse also offers loans for your avatar.
But, to get the loans is not as easy as it sounds.
There are various factors involve for lending loans with ease, and safely.
To process any loan, Decentralized Finance requires a collateral.
In the case of metaverse, the collateral can be an NFT that you bought.
so, which thing that you want to do with your nft in the metaverse?