New does not always mean that the new product is evil. It is not even essentially true when the new product (NFTs) in the market is underpinned by profit motives and centralized institutions. Nonetheless, every tool, every person, every resource (and everything generally) exists on some form of spectrum.
On one side, there is the good and on the other, evil exists. Dungeons & Dragons appear to have taken it further – behold; there is the lawful good, neutral good, chaotic good, lawful neutral, true neutral, chaotic neutral, lawful evil, neutral evil, and chaotic evil.
People throughout the world currently are wasting their time wracking their minds attempting to map NFTs on the scale when the answer is: you cannot do it; it cannot be done.
Pushing everything into a box and then labeling it like it is the precise problem that we are aiming to move away from and we are now committed AF understanding that you can never apply best practices or non-sensible regulations, rules, and guidelines to all unique scenarios and situations.
We should never try to do anything like that. Instead, we need to aim to retain moral integrity by focusing on some values that prove useful to us, others, and the general society within which we operate.
The anonymous fox noted that they are motivated to create value, passionate about ownership and inclusion, concerned about how groups are about groups and their rights, and sad about the growing level of NEG and FUD currently experienced by both individuals and groups. Before summarizing, the anonymous fox highlighted some non-fungible token (NFTs) use cases.
Music & IP NFTs
Non-fungible tokens play an immense role in revolutionizing the music and IP industry. This industry will soon see music marketplaces adopting the blockchain and NFTs to reward musicians for their creations in the future.
Real Estate NFTs
A real estate venture is renowned as a bubble that does not burst regardless of the heat. It’s hard for first-time buyers to enter these investments, not unless in-game items are tokenized and fractionalized for ownership and buying.
Video Game NFTs
For a very long time, microtransactions have ruined the video gaming industry. However, NFTs have brought a monumental shift. Instead of paying for new content, artists will begin to earn royalties for ownership and development of their in-game assets.
Healthcare & Medical NFTs
NFT is quietly revolutionizing the health sector through a QR code system. These QR codes are integrated with NFTs to transmit medical records quickly across different hospitals globally. For example, a health facility may share data before patients receive medication in certain countries.
Democracy has been a formidable challenge in many states across different regions. In this case, NFTs may be used to transmit election results and prevent voter fraudsters, among other election malpractices.
Metaverse is one of the rapidly trending NFTs used within the crypto industry. The integration allows people to buy and sell digital lands, among other in-game assets. FTSE500 Company is a perfect example, announcing to create its headquarters in the Metaverse before the end of this year.