NFT is the future of business.
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NFTs are the future of business.
The art industry seems to be in the crosshairs of NFT right now. It is receiving the most attention and experiencing unprecedented growth. However, it should be noted that other sectors are following suit. Game industry, along with retro art collectibles, is an industry that lends itself well to NFT, as evidenced by the number of trading card games and investments by big-name game companies like Ubisoft, the game Raving Rabbids, and Atari.
The entertainment industry also seems to be diving into the waters of NFTs as well as artists. Live event tickets will soon be issued on an NFT-based system, which will alleviate the counterfeit problem that exists in the ticket industry.
Finally, in sports leagues, NFTs are easily described as “digital baseball cards” of sorts, so it makes sense that major sports leagues are starting to adopt the technology. This is already happening with Formula 1 Delta Time, the official Formula 1 collectibles game, and NBA Top Shot, an officially licensed platform that allows you to own the best moments of the NBA in the form of collectibles known as "Moments".
Wilhem Pujar, co-founder and CEO of Stacktical, a decentralized platform for SLAs, shared his optimism about sports collectibles in NFTs.
“Considering that sports betting is a $200 billion+ market, we can expect a large amount of capital to be reallocated to NFTs, which will act as an emotional and financial hedge against vacant stadiums.”
While gaming, art, and sporting goods collectibles represent the largest share of NFT adoption, other markets have potential. Yat Siu, co-founder of Animoca Brands, a branded gaming platform on the blockchain that includes F1 Delta Time, MotoGP Ignition and other sports-related projects, believes that NFTs can gain traction in many other industries.
“Right now we know that NFTs have a powerful impact on all forms of digital content like digital art, collectibles, games and most recently music, but eventually everyone else will follow medicine, fashion, finance, manufacturing, agriculture, insurance. will. Whatever it is, there will be related NFT applications. "
According to Mark Cuban, NFTs are the future of business. “This generation knows that digital contracts and the digital or crypto assets they represent are better investments than traditional assets that you can see, touch and feel.”
This can be seen in cryptocurrencies and is starting to make sense with this new boom where Bitcoin and Ether are the main players. Cryptocats have led to Nyan Cat-like memes.
Digital collectibles open up new avenues for blockchain technology beyond traditional financial applications. By representing physical assets in the digital world, NFTs have the potential to become an important part not only of the blockchain ecosystem, but of the broader economy.
