NFTs are perhaps the most misunderstood blockchain-related product. Ever since they entered mainstream consciousness in 2021, they have always been associated with digital art. But NFTs have utility outside the high-quality art world. Digital collectibles are on the rise, with athletes particularly interested in using NFTs to crystallize iconic moments in sports history. In the gaming world, many developers are working on incorporating NFTs into video games as playable items. Finally, the largest application of NFTs is yet to come in the metaverse. In this article, we will explore the world of NFTs outside of digital art and bring to your attention some of the coolest projects in this space, and perhaps more importantly, introduce the best platforms you can use to access NFTs. the product.
The introduction of most people to NFTs was in 2021, when digital artist Beeple sold his artwork 5,000 days at Christies’ for a whopping $ 69 million. Since then, NFTs have been a chapter of mainstream culture, with digital artists increasingly using the technology as a way to interact directly with their clients. But enough about art – what do people do differently with NFTs?
Digital collectibles are probably the second best known NFT product. Everyone has of course heard of Bored Ape Yacht Club, a collection of computer-generated images of lackadaisical primates that totaled more than $ 180 million in sales in one week in February, according to Business Insider. But NFTs are also big in sports. In 2021, Tyson Fury, the linear boxing champion heavyweight teamed up with FOMO Labs to create an NFT collection. The crème de la creme of the collection, ‘Ruler’ by Tyson Fury sold for nearly a million dollars, and became the best-selling box-related NFT ever sold.
FOMO Lab, the leading IP specialists, FomoVERSE architects and creation studio has brought a myriad of futuristic NFT collections to space. In the automotive world, the Miami Crypto Experience has also partnered with FOMO Labs to put the first Porsche on the blockchain. NFTs also disrupt the music industry through an innovative blend of blockchain technology and music: 808 Mafia’s PVLACE has also teamed up with FOMO Labs to create a collection featuring original musical compositions accompanying the NFTs.
But the full extent of NFT utility will be demonstrated through the metaverse. In a cross reality space, a myriad of use cases for NFTs like digital permission tokens and more appear. The applications are endless, but what the NFT space needs is a platform that can bring these features together in an accessible and productive setting. FOMO Lab serves as a one-stop-shop for all aspects of the NFT ecosystem, from a launch pad to help grow new crypto projects, to a multi-chain NFT marketplace – The Avenue Marketplace – providing interoperability has over several blockchains. This kind of holistic approach to creating an NFT ecosystem is the kind of forward-looking vision needed to truly push the boundaries of what blockchain technology can achieve and to give users ownership of their digital capabilities.