NFTs Are Making Their Mark On Business

Ellen Britt for CNT #NFT

Some of the ‘hype’ around pixelated jpegs as NFTs may be decreasing a bit, but the transformation of industry by NFTs continues full steam ahead!

Here are just a few ways in which NFTs are making their mark on business:

Medical Records

An individual’s medical records are vital, irreplaceable pieces of information. For many individuals, even in today’s digital age, their medical records are scattered in various physician offices, hospitals and specialists. But with the rise of the blockchain and NFTs, a person now has the promise of complete control of their medical records along with an airtight promise of confidentiality and security.

Real Estate Tokenization

This is perhaps one of the greatest and far-ranging benefits of NFT technology. In the not too distant future, you will be able to have an NFT represent the deed to your house and you will be able to use that deed on a decentralized finance (DeFi) protocol that will allow you to borrow money against it. Other valuable items such as a luxury yacht, or even a hotel can be tokenized so that fractional ownership is possible. This gives people who would not usually be able to afford to invest in such items the opportunity to do so.

Tracking Patents and Other Intellectual Property

The cumbersome and complicated system of trademarks and patents is due for a huge disruption, as NFTs offer an ideal way to prove ownership over content as well as tracking ownership.

Membership And Exclusive Perks

NFTs can be used to verify membership in an organization or club or even provide access to special services. This use is already being seen, with quite a few projects having a special website or Discord group that is only available after you verify your ownership of a particular NFT.

This also extends to ticketing and rewards programs for sports events, concerts and more.

The Sky’s The Limit!

As the space matures, we will see NFTs used more and more for each of these categories as well as others which as of now, haven’t even been thought of!