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Not a Digital Artist? Here are 6 Other Things You Can Do with NFTs

Many people have found exciting use cases for NFTs. The most popular one most of us have heard of by now is digital art. Digital artists were the first professionals to be identified with NFTs. 

If you are the type who struggled through numerous art classes or can’t, for the worth of the world, draw a cup on a table without it looking like a horse, then you might have thought NFTs have nothing to offer you. Well, you are wrong. 

Since their inception, we have seen NFTs being used in many different ways, which means anyone can find their place in this fast-growing industry. 

Here is a list of other ways you can be part of the NFT ecosystem without holding a brush or a trackpad.

1. Gaming NFTs

Gaming NFTs are the second most popular kind of NFTs after art NFTs. These NFTs form a big part of the web3 gaming ecosystem but are not so different from traditional games. The main difference is in the control they give you over ownership of gaming items and a chance to earn while you play. 

If you are a gamer, this could be your perfect entry into the NFT ecosystem. There is a massive demand for tradable in-game items, and owning one of these unique items could fetch you some money if you wish to sell them. If you are unsure where to start, check out this article on the best free-to-play games.   

2. Music NFTs

Music NFTs are one of the fastest growing use cases within the NFT ecosystem. It is a new way to have ownership and bragging rights over a song or an album or collect royalties over their sales. These types of NFTs also solve many problems currently faced by musical artists in terms of revenue generation and royalties. In most instances, musical artists are often at the mercy of large corporations that take most of their revenue. 

To make music NFTs, the links to the images and audios of the said song or album are embedded in the NFTs, which are then offered for sale. They are then sold as individual songs, a limited collection, or an entire album which you can later resell to someone else.

Even though this gives you exclusive ownership over the piece, the song will still be available on platforms such as Spotify or Apple Music. If you’re not sure how to get started, you can start by learning about the best NFT music marketplaces.

3. NFT Collectibles

Humans have always loved collecting things, whether cars, wristwatches, stamps, or paintings. Often, collectors focus on the rarity and uniqueness of the pieces they hold in their collection, which is why NFT collectibles have become so popular.  

The more exciting part is that almost all NFTs qualify as collectibles. Recently, NFT collectibles have grown in popularity, especially in sports. But the reason for their popularity goes beyond the benefits of owning an NFT.

NFTs generally offer a more thrilling experience to their holders. Not only is it a show of ownership, but it is also a key to an exclusive community, or a way to flex your ownership of the collected item. 

Bored Ape Yacht Club (BAYC) is perhaps the world’s most widely known NFT collection. Holders of the BAYC NFT enjoy exclusivity and real-world utility benefits such as invitations to exclusive parties and events. There is also a high demand for these exclusive NFTs, making them collectible and investible. 

If you have the money and the enthusiasm, then this could be your way to go.

4. NFT Domains

NFT domains are another fascinating use case for blockchain technology. These domains are different from traditional domains, which we are more familiar with. For context, domains are the addresses of websites we input when we surf the internet. 

While the function of these addresses is cool, they can do much more. Unfortunately, buying these addresses doesn’t mean you own them; instead, it is a license to use them. The power to fully utilize them is controlled by a few. But all that changes with NFT domains. 

Built on the blockchain, this category of NFTs gives users more control over their addresses rather than serving as addresses alone. It could be an alternative to your long and complicated wallet addresses, login access to multiple addresses, and even receive coins and tokens. 

The best part is this domain class is yet to peak in popularity but will surely rise in years to come. One of the best ways to utilize them is by creating domain names you think someone would find valuable enough to pay for in a few years’ time. If you are looking for where to start, Ethereum Name Service (ENS) is one of the best platforms through which you can cop one for yourself. 

5. Finance NFTs

Many people sometimes wrongly assume that an NFT is all about digital items and nothing more. The truth, however, is that anything that is transferable, accessible, and verifiable can be made into an NFT. 

The finance world is one of the sectors where NFT applications are put into real-world application and use, particularly in the tokenization of loans in the DeFi (Decentralized Finance) space. 

Finance NFTs allows users to tokenize their loans, which they can trade on NFT marketplaces. Further, the NFT holder can set interest rates on the loans from which they would earn for the duration of the loan. This conveniently solves the problem of loan movement across networks and does not restrict users to a particular network. 

Lastly, NFTs can also be utilized as tokens for insurance in DeFi’s cover protocol to ensure users against losses or unexpected events. 

6. Real World Asset NFTs

Proof-of-ownership is one of the core characteristics of NFTs. Due to the blockchain which they are built on, they are immutable, unique, and an ever-existing proof of ownership. This means records of who has held an item or currently holds it will forever exist on the chain. 

Proving ownership has been a longstanding issue in real-world asset ownership. Ascertaining true ownership often comes with long stretches of running through files and certificates. But with NFTs, that can be confirmed in minutes and with an additional history of previous owners and how much the asset was transferred for. 

Creating tokenized digital assets of these real-world assets can move these real-world assets to the blockchain. Imagine a deed of a house that is tokenized and lives on the blockchain for aspiring owners to look at. It could further serve as a sales register from which aspiring owners could confirm the previous ownership of the land and the costs. 

While regulators haven’t shown much support for this because of existing laws that guide certain transfers, it is a utility that will favor people in general. There is a chance, therefore, that in years to come, more consideration will be given to it. 

Learn more about NFTs >> The Ultimate NFT Guide

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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Candy Digital Feels the Pinch as Company Downsizes

Next-generation digital collectibles platform, Candy Digital, is the latest company to feel the icy grip of crypto winter. It has recently reduced its headcount by a mammoth 33% as it braces for the oncoming blizzard.

Backed by crypto power trio Gary Vee, Mike Novogratz, and Michael Rubin, Candy Digital arrived on the scene during the heady days of 2021. They initially launched as a sports NFT platform with a lucrative MLB licensing contract. It was then broadening its reach into collectibles by securing additional partnerships with NetflixGetty Images, and an entire fleet of NASCAR racing teams.

I hate that I have to share this as much as I loved my job at @CandyDigital but I was part of the layoffs that occurred earlier today.

I am quickly looking for a new role in Community Management, Graphic Design, or related Marketing.

Thanks, Candy Fam for one hell of a ride

— Muntner (@muntnerdesigns) November 28, 2022

The company reached new heights in October 2021 following a successful $100m round of series A funding. This investment was a mighty sum that helped take the company valuation up to an eyewatering $1.5 billion. However, the crypto markets have stalled, NFTs have lost their momentum, and the broader macroeconomic landscape is in turmoil. Many tech firms face the stark reality of reducing headcount as they look to weather the storm.

Over the preceding months, several tech giants have faced similar tough staffing decisions, with the likes of Web3 firms, Opensea (20%) and DapperLabs (22%) taking steps to streamline operations. With legacy social media goliaths, Meta (13%) and Twitter (a reported 50%) are making similar staffing adjustments.

Learn more >> The Ultimate NFT Guide

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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Gmoney Just Revealed His Identity! Check it Out!

Futurist, Disruptor, and CEO of Web3 Luxury House 9dcc – gmoney tweeted to reveal his real identity earlier today! As a string of NFT top dogs have doxxed themselves, the infamous gmoney has ventured beyond his CryptoPunk digital identity as well. The move is also pushing the narrative of the need of the hour – strong, visible leadership in web3. Read on to learn more about gmoney and his far-future visions!

Left: gmoney, Right: gmoney

Who Is GMoney?

Gmoney is considered by many as more than just an NFT founder. He is also considered a futurist and thought leader in the space. On November 29th, the pseudo-anonymous founder revealed his visible identity to his fans with an official Twitter post (@gmoneyNFT). The post simply reads “Feeling cute, might delete later.”  The doxxing also comes as 9dcc’s Pop-Up Shop opens with the release of its sequel drop “ITERATION-02” at Art Basel, Miami. The drop is also a collaboration with  artist, coder, and Art Blocks creator Snowfro (Erick Calderon). Gmoney’s identity reveal however only goes far as his real life image. The identity (name and other details) still remain hidden.

Anonymity is a widely accepted phenomenon in web3 culture. But due to uncertain times and an influx of bad actors, there exists a huge loss of trust in the space. It is exactly during these times that true leaders rise up to the occasion to guide the culture on the path forward. Gmoney is responsible for multiple exemplary projects in web3 – earning himself the title of “OG” in the novel industry. This includes his NFT project Admit One. As part of his presence at Art Week Miami 2022, gmoney has also curated his first collection with Nifty Gateway. This exhibition is titled “TIME TO BE HAPPY, 00:01 BY BENZI” in partnership with Superchief Gallery.

“When I leaned into the CryptoPunk avatar, it was to prove a point: that what I looked like didn’t matter. It was the quality of my thoughts, how I work with the community, and my actions that were important. With all the events that have happened in the space over the last few months, it is very clear that the space needs strong and visible leaders focused on building transparently and with integrity through the bear market.” stated gmoney.

The post Gmoney Just Revealed His Identity! Check it Out! appeared first on NFT Evening.

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Attend ‘The Global Boardroom’ Online Conference by the Financial Times

This December, the Financial Times will host the 6th Edition of ‘The Global Boardroom’ online digital conference. This comprehensive event outlines the strategies to manage sustainable growth amid geopolitical and economic turmoil. Some of the biggest names in business, finance, and politics will join an open dialogue regarding the immediate challenges facing our modern world.

The next live event will occur from December 7-9, with NFT Plazas proudly representing the Web3 space as an official media partner. The event features various topics relating to the immediate future, including war, pandemics, and global warming. In addition, a further segment is being dedicated to the Metaverse and the role it has to play in the world economy.

Register for your free Inspiration Pass >> Click Here
Register for a Professional Pass >> Click Here and use code NFTPLAZAS for 10% off

World Thought Leaders Gather to Discuss the Future

The purely online conference will include a vast contingent of thought leaders from a broad spectrum of backgrounds, including Secretary General of NATO, Jens Stoltenberg, President of Argentina, Alberto Fernández, and Rolls Royce CEO Warren East. Also joining are prominent members of the tech heavyweights Google, Meta, and Amazon.

Those attending will gain access to a wealth of crucial business information from leading policymakers. The event provides a platform to engage with quality content and curated discussion panels to gauge the reaction to crises in the modern world. There is also an opportunity to participate in an interactive question-and-answer session with several key industry experts.

On December 9 at 6 pm, Angie Gifford, Vice President of the EMEA region for Meta, and Su Le, Chief Digital and Strategy Officer at Tonomus, will head up a discussion regarding the Metaverse. Considering the part it will play in the future of the economic landscape and how it can integrate with existing businesses. The Metaverse discussion will Focus on such aspects as its potential scalability, impact on socio-economic growth, and ability to provide a sustainable revenue stream.

Take a look at the full schedule >> Click Here

How to Attend and Participate

The latest event will take place from December 7-9 and is accessible online via almost all devices and browsers. However, those with a strong internet connection and Google’s Chrome browser will achieve the best results. To get involved, prospective attendees can register via The Global Boardroom website and select one of three access tiers. As such, the free inspiration pass will provide access to all discussions and Q&A sessions. In contrast, the $209 professional pass will add 90 days of on-demand access to talks, summaries, networking opportunities, and more. Furthermore, a custom ‘delegate plan’ is also open to those with bespoke requirements.

The last event held in June hosted over 800k unique viewers watching over 100 individual speakers with 30+ hours’ worth of content and all early signs are that this event will be bigger and better. You don’t want to miss out…

Register for your free Inspiration Pass >> Click Here
Register for a Professional Pass >> Click Here and use code NFTPLAZAS for 10% off

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

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