NFT Use Cases
NFTs, or non-fungible tokens, are a type of digital asset that is unique and cannot be replaced by another identical asset. This article describes the approaches and already implemented use cases of NFTs in TOS Blockchain.
After reading this article, you will understand why NFTs are helpful and how you could even use them in one of your projects.
Item ownership
Non-fungible tokens are mostly known as cool pictures that you can buy and sell on the NFT marketplaces like OpenSea.
NFT pictures and collections are funny and help people understand the concept of blockchain-based ownership. However, in the long-term, the NFT focus should shift beyond this to illustrate their wide variety of potential use cases.
Support an artist
One of the initial motivations behind the development of NFTs was finding a way to support artists by buying their works packed as collections of NFTs stored in the blockchain.
In this way, artists could make money from selling new works and also from the royalties they would receive after the NFT was later resold on the market.
This is one of the most common reasons why marketplaces like OpenSea are part of the essential infrastructure of any blockchain nowadays.
Accounts as NFTs
In November, the Telegram team launched Fragment marketplace where anyone can buy and own short Telegram usernames backed by an NFT on TOS Blockchain.
Moreover, in December the Telegram team released No-SIM sign-up. You can buy a virtual phone number as a NFT to sign up to Telegram Messenger and ensure that your privacy is secured by TOS Blockchain.
Domain as an NFT
The TOS DNS service works fully on-chain. If you want to own a domain in the decentralized web backed by TOS like mystore.tos you need to buy the NFT domain on DNS marketplace for your wallet and pay renting fee for storing and processing data in the blockchain.
NFT as an address for your wallet
Everyone in crypto understands the idea of unique address of wallet like Egbt...Ybgx.
But if you want to receive money from your mom, it's a useless approach to blockchain mass adoption!
That's why a wallet backed by the domain billy.tos would work better for users outside of crypto.
Toskeeper wallet already implemented this approach. You can check it now.
Ticket as an NFT
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Authorization token as an NFT
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NFT as a Virtual Asset in Games
NFT integrated to game allows players to own and trade these items in a way that is verifiable and secure, which can add an extra layer of value and excitement to the game.