NFTs: Beyond The Hype To Explore More Opportunities Looking Into Use Cases
Starting in 2021, NFTs went mainstream and have experienced never-before-seen prominence and potential growth, which is even staying in 2022. There is an anticipation that the NFT market size is persisting, with a worth of USD 13.6 billion by 2027. Undeniably, the hype about NFTs will never fade as it is buzzing everywhere around us. In this article, let’s look at the use cases and opportunities of NFTs, which will pave the way to explore more in the NFT market. What Is NFT And Why Does It Matter? Basically, NFT is a digital asset with significant traits of uniqueness, scarcity, transparency, and interoperability. It has a unique identification code and the transaction data will be stored on the blockchain ledger. The value of authentic & unique digital assets is always high. Whereas, in the digital era, there is a chance of copying digital assets, which could be even artworks. This is when the question arises, like how the traceability of the original version is possible. It