Why NFTs Aren’t Just for Art and Collectibles

Source | CryptoNews

Are non-fungible tokens (NFTs) one-trick ponies? They’ve certainly taken the art and digital collectible world by storm, raising millions of dollars for a handful of high-profile artists and (mostly) the NBA, but what else can they do?

Well, given that the NFT is essentially a technical standard for creating and identifying unique digital objects, its use potentially extends far beyond the digital art and collectibles world. From tickets to insurance certificates and domain names, whenever an object can be represented digitally, NFTs can play a role.

Of course, whether the application of NFTs ever expands beyond art and collectibles in a big way remains an open question, yet industry insiders generally agree that the non-fungible token is here to stay.

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