Non-fungible tokens (NFTs) are as popular as they are versatile. If you’ve heard of them but don’t know what they are, this article is definitely for you
NFTs have been called in many ways, from “sketch” and “work of art” to “safe bet”. But in reality NFTs are single tokens that contain valuable and unique information.
They can be bought and sold like other types of art, as the market and demand primarily determine their value. However, the unique data of the non-fungible tokens makes it easy to verify their ownership and to transfer the tokens between owners.
But can anything be done with NFTs?
In short, yes; NFTs are also used to guarantee the authenticity of luxury items (history of ownership). This type of token can also be bought, sold and given away on digital exchanges.
NFTs will also change the way artistic patronage takes shape. This is because blockchain transactions are direct and not mediated by third parties. And the most absurd thing is that lately they have been integrated into the cinematic experiences.
It seems impossible? Follow the article to understand what it is!
What makes NFTs so special?
NFTs allow the buyer to own the original item. Not only that, they contain built-in authentication that serves as proof of ownership.
Non Fungible Tokens, like all blockchain technology, can be used for a variety of practical applications, from verifying the authenticity of documents to preventing ticket ticket scaling.
At present, art is the most popular form of NFT. For this reason, art is also the type of NFT that sells best. For this reason, the design of NFTs has been a great opportunity for artists to sell their best works online.
What else can NFTs be used for?
NFTs could be used to transfer land, provide proof of ownership, and even track changes in property values over time using timestamps. Furthermore, the real estate industry is one of the most NFT-ready sectors, poised to explode as it did with Tesla Coin.
However, the technology has evolved since it was born and, last September, Enderby Entertainment’s Zero Contact (starring Anthony Hopkins) became the first Hollywood film released as an NFT.
The studio launched the film and related merchandise on its blockchain platform for the film industry.
NFTs are also used to increase popularity; exclusive NFT series for different films are often released for those who have purchased a ticket to see the film, to encourage attendance at theaters.
How will NFTs be used in the future?
NFTs will further evolve in the entertainment industry. Here we are talking about movies or, for example, the fact that technology and entertainment companies are basing their operations on the foundations of cryptography and the Web3.
In addition, various NFT tickets have begun to be used to participate in unique experiences.
Recently, NFTs have become an excellent means of film promotion. And now, with the help of multi-D NFTs, creators can tokenize 3D animations and offer them to the public.
What is a multi-D NFT?
Multi-D NFT is an invention of Kleks Academy. Each multi-D NFT is a multi-sided 3D animated NFT containing graphics and information, offering a new way to experience a movie.
Owners of multi-D NFTs will receive a wide range of unprecedented perks, such as the ability to visit the movie set during production or to appear in the film. There will also be a special augmented reality app that will allow multi-D NFT owners to interact with the film itself.
Other perks include owning original gadgets and costumes used in the film or access to special outtakes and exclusive behind-the-scenes footage.
Enjoy the experience
Regardless of which direction NFTs take, we can say that this is a unique experience. Keep up to date and try to enjoy the fact that this technology is advancing rapidly and the opportunities it offers are unmissable.