NFTs are much more than art - 3 Better use cases for NFTs than art -what is your favourite use case for NFTs?

Most of the attention in the crypto space is focussed on NFTs as art. A few amount of people actually know that NFTs are much more than a proof ownership of a gif or picture. In the near future NFTs are going to solve problems in industries, which consumers face regularly.

Below are my top 3 favourite use cases for NFTs.

What is your favourtie use case of NFTs beyond Art

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1. Event Ticketing

Using unique, unforgeable NFTs to represent tickets for specific sports and entertainment events helps to prevent scalping and scamming. Smart contracts can be used to make tickets non-transferable to prevent scalpers from purchasing sought-after tickets in bulk and then reselling them at inflated prices and prevent scammers from trying to sell counterfeit tickets.

On a podcast in March, Mark Cuban, billionaire investor and owner of the Dallas Mavericks, expressed a great deal of interest in NFT technology. “We’re trying to find a good option for turning our tickets into NFTs. We want to be able to find ways so that not only can our consumers, our fans, buy tickets and resell them, but we continue to make a royalty on them.

2. The Music and Video Industry

In much the same way NFTs have helped artists discover new ways to create their works and reach new markets, the tokens are also transforming how musicians create and share their music and videos.

The properties of NFTs—uniqueness, verifiability, transferability—offer musicians greater independence from labels and other gatekeepers of their industry, better enabling them to self-distribute their work and cultivate direct relationships with fans. Musicians can sell tracks as NFTs on marketplaces such as OpenSea, auction previously unpublished material as limited-release NFTs, and even sell rights to their works.

These tokens can generate fast and significant interest from fans. Alternative musician Grimes sold digital art and videos as NFTs for almost $6 million on Nifty Gateway in 20 minutes earlier this year.2Rock band Kings of Leon recently generated $2 million in NFT sales of their new album in just one week.

NFTs have the potential to replace conventional subscription models for “super-fans.” For example, they can be programmed so that the subscribers holding them can access premium music and video content or even highly exclusive benefits, such as lifetime front-row seats to concerts.3 Those same NFTs can also be programmed to collect royalties for musicians every time they are sold and resold.

3. Unique Experiences

Some industries are using NFTs to tokenize historic moments. The sports industry, for example, is capturing such moments using collectible card-style NFTs. Sports personalities are leading the way by including experiential content in NFTs that only owners can “unlock.” An NFT created by American basketball player Luka Garza includes the opportunity to meet him, compete with him in a game of HORSE, and join him for dinner and a movie.

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