A majority of people, or even brands participating in NFTs (Non-Fungible Tokens), have been exploiting the technology to generate additional revenue streams by selling their NFTs to the general public.

Here are some of the most common use cases for NFTs:

Digital assets like music, art, or video can be represented as belonging to a person or entity using NFTs. The fundamental tenet is that NFTs can be employed to vouch for a specific digital asset’s originality and creator-verified status. This would lessen piracy and guarantee that authors are fairly paid for their work.
Decentralized markets can be established using NFTs. An NFT might, for instance, stand in for a virtual piece of real estate in a virtual world. By purchasing an NFT, you would become the owner of that asset and have the option to sell or rent it to other users.
Loyalty points or prizes are yet another intriguing application for NFTs. A business might, for instance, issue NFTs that can be redeemed for deals or discounts. As a result, customers would be encouraged to continue using the business’ goods or services.
Utility tokens can be created using NFTs. An NFT might, for instance, be a key that grants access to a particular service or piece of content. As a result, content producers could monetise their work in a novel way.
Applications for gaming can employ NFTs. An NFT might, for instance, represent a character from a video game. If the initial owner decides to sell the NFT, it can be transferred to another player since it is stored on the blockchain.