NFTs are generally viewed as a way to buy and sell digital art images that can be very profitable. NFTs can be used for more than just buying and selling digital art images. It will not be difficult to imagine areas in the near future where NFTs can’t be used to prove absolute ownership of everything.
Fractionalised ownership is one area where there are huge opportunities for those who invest early and establish the infrastructure. It is now possible to have a share of a piece of real-world art that you would not be able to otherwise in the art world.
This was a playground reserved for the very wealthy. Who would not have the money to buy a painting?
Even the smallest investor can now own a piece of an artwork. An NFT attached to this purchase would give the investor complete and absolute ownership without any doubt. It would also allow the investor to transfer their piece of art to another investor at will.
NFTs are a way for gamers to own the inventory related to their games. Instead of being part of the gaming platform, like today. If the user is bored with the game, they can either sell their assets to other people or cash it out to purchase assets for new games.
Today’s article by CNBC featured Bill Tai, a venture capitalist. He believes NFTs can be used to buy stocks and real property. He stated:
Web 1.0 was read-only. Web 2.0 is read/write. Web 3.0 is the wrapper that allows everything to move around on that screen. It’s an “internet of assets.”
He said, “You can put land title on there, real property, art, drawings or anything else,” and that everyone can have an address that allows people find it through a market. It’s the best way to transfer ownership of any asset over time.
Like fractionalizing high-value items like art, NFTs can revolutionize the way properties are purchased and sold.
There is no doubt that NFTs will bring a new, exciting future for all things with value. This opportunity is not yet being seen by the majority. If it does, be ready for the gold rush.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.