6 NFT Use Cases That Will Live On After The Hype Dissolves

After non-fungible tokens exploded in 2021, we take a closer look at the 6 NFT use cases that will live on after the hype dies down. The NFT projects became quite popular among the crypto community and spiked a hype combined with cases of wash trading and bursting of the bubble but let’s focus on the good things in our latest cryptocurrency news.

While the NFT hype will not last forever but there are at least 6 NFT use cases that will survive the hype to establish NFTs are the next big thing in the global digital economy.

1. In-Game Items

Integrating NFT into the gaming industry will become a vital part of the future of gaming. The play-to-earn gaming is booming even if it’s only a small chunk of the online gaming market. Blockchain technology can help ensure gamers buy and trade genuine items and provide accurate transaction records.

2. Memorabilia collectibles

NFTs provide the ability to prove ownership of digital collectible items and it’s no wonder that they can find their place on the memorabilia market. Sorare for example was quite successful in creating football player collectible cards NFTs which can be used in the game.

3. Loyalty Programs

NFTs are poised to revamp the consumer loyalty programs that were out of touch with today’s customers. The study by CFI Group and Radial revealed that close to 405 of the shoppers claim that the loyalty programs aren’t worth the appeal. NFTs can improve this by offering more than just points of use in the future.
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Clinique as a cosmetic brand offers the chance to win unique digital artworks to the loyalty scheme members and to be rewarded with a few cosmetic products in one year. Coca-Cola also auctioned “loot boxes” of NFTs including digital apparel which can be displayed in the metaverse platform Decentraland.

4. Memberships

NFTs can be a great vehicle to prove membership in a certain club or a group. NFTs can be used as global tickets to gain entry to a certain product or collection and can provide access to exclusive items like early access to gated offerings or for limited edition products.

5. Community building

Plenty of brands on social media use NFTs for community-building purposes and they allow fans and followers to get closer to their idols. This means that they can own a special edition merch, tickets to an event, or more. Brands can also drop limited edition NFTs to their community members or even reward individuals that will help them grow their community.

6. Digital art

Digital art existed before NFTs but they made it more monetizable for artists worldwide. Skilled artists will continue to benefit from the digitization of the art market that is powered by NFT technology.