Believe it or not NFTs are more than just having a unique Twitter avatar with the price tag of a Rolex. There is a wide range of uses for NFTs in many different industries, which is why designers, devs, musicians, photographers, producers, shoe brands and more creatives are jumping into the Web3 space. It can be difficult to sift through all the projects available so we created a list of a few NFTs that demonstrate the possibilities of what NFTs can do.
This type of NFT is one that has been issued as a single, unique edition. 1-of-1’s are seen as more scarce and therefore more valuable, because only one person can own them at a time. A great example of this NFT art is by Yura Miron, who creates intricate drawings from various inspirations. Yura is a graphic designer, painter, sculptor, musician, and all-around creative that dabbles into psychedelic, solarpunk and futuristic genres of art. While you should always do your research (DYOR) for any type of NFT collection, for the fans of collecting 1-of-1 pieces there are plenty of artists to be discovered with price tags that are much more accessible.
NFT collectibles have generated major sales in the NFT space and continue to grow. NBA Top Shot is a huge example of how non-fungible tokens can be used in the world of sports and memorabilia. The NBA Top Shot collections are unique digital collectibles that let fans buy, sell and trade their favorite NBA moments. Many legendary moments in the NBA are available to own on the blockchain and are separated into rarity tiers which range in value and price. This makes it accessible for the general fan to the super fan to get involved. There are many different sectors that offer collectibles from sports to movies to cartoons and so much more.
NFTs entered the gaming industry a while ago and there are plenty of platforms and NFT projects that have created communities and opportunities for gamers and crypto enthusiasts. The merging of NFTs and gaming is referred to as play-to-earn gaming where collectors can buy, own and sell assets within the games ecosystem. Fortnite is a great example of a successful ecosystem within a game, now imagine that rather than the company making all the money, the players get in on some of the action too. CryptoKitties, Axie Infinity and The Sandbox have offered players a way to generate an income from gaming and in-game tokens. The NFT gaming space continues to improve the experience for players and there is an increasing number of huge established gaming companies looking to get involved in the NFT space and introduce it to their audience.
Photography is a genre of art that has exploded in the NFT space, with many talented creators turning their images into NFTs and establishing themselves in the crypto art space. Plenty of photographers have gained recognition through the NFT space as it draws like minded people together and amplifies their voice. An example of an impactful collection that uses NFT photography is the Women Unite’s collection, that represents womankind’s individuality, allure, and influence through Fashion, Photography, and NFTs. The collection includes 7k unique portraits of real women from all different backgrounds and contains an important message of diversity, inclusivity and empowerment.
The emergence of musicians in the NFT space has been a slow progression as both independent and signed artists have recognised the power blockchain technology has to offer. Owning your songs, directly selling to fans without a middle man and being able to establish a closer bond with fans are just a few ways NFTs can empower artists. More than that, unique and catchy sounds can be sold and used for people's own use such as a jingle for a product advert or podcast. Music NFTs not only benefit the creators but dedicated fans can own a piece of their favorite musicians work and overtime this can skyrocket in value which rewards the fans loyalty and participation in that musicians career. Both the musician and collector can monetise these musical tokens without the interference of a record label, manager or any middle men.
Prominent figures such as Gary Vee have partnered with corporate giants like Budweiser to grant opportunities to independent musicians who want to break into the music industry without giving up ownership to record labels. With many more advocates of the NFT space showing what is possible with NFT and blockchain technology, there are more and more creatives joining the space. They are finding new opportunities and paving a new way in their industry that ultimately will reward both the creators and the collectors.