How can NFTs be used practically?

If I understand correctly, if I publicly make it known that I minted a certain NFT then couldn't it be a form of online identification in that it can be verified the same wallet still owns that ID. But the problem would be if I trade it, for someone else to use it as an ID they would have to prove that they own the wallet, which makes it known how much that wallet contains right? Which makes me worry about the security of revealing say, my neighbor, has 15m in their wallet.

But what else can it be used for though? I can't see it used for general receipts due to high gas fees.