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Promising Practical Applications of NFTs Other Than Art
A whopping 299% growth in the NFT market was noted in 2020 alone. In February 2021, the number of NFTs transacted in 24 hours was more than those traded in the entire 2020. NFTs are now becoming impossible to ignore.
Across various industries, there has been a spiking demand for the digitization of items. The properties of non-fungible tokens have opened up opportunities in these industries that weren’t there before. Here are some bold cases of how NFT has been put to revolutionary use.
- Music
In the music field, huge waves were made by DJ 3LAU selling 11.6 million dollars in NFTs in February 2021. The music can still be viewed or purchased from the normal platforms but the novelty is the idea of owning this rare token.
