5 NFT Use Cases Beyond PFPs (with Real-Life Examples)
April 3rd, 2022

Everyone on Twitter loves to say NFTs have no real-world use cases, but this is a myth.

The reality is that NFTs are already getting implemented today in industries like medical, real estate, events, luxury goods, and supply chain operations. Given NFTs are such a flexible piece of new technology, there's an infinite set of problems and pain points that it can apply to. We are only at the beginning of a huge wave of industry change.

Below is a list of 5 real-world NFT use cases & example companies I've observed.

Practical NFT Use Cases & Examples

  • Product Authenticity: reducing risk of buying a fraudulent product by using the NFT to represent legitimate transfer of product ownership, e.g. luxury watches (Dock)
  • Event Ticketing: reducing costs & fraud rates in event ticket transactions using NFT to represent certified transfer of the ticket (Oveit, Get)
  • Health Records & Identity Verification: enabling patients to own their own health data as an NFT & even sell it via an open marketplace (Aimedis, RightsHash)
  • Real Estate: reducing the cost/time of purchasing a property by using tokens to store the record of purchase & signify transfer of the title ownership (Propy, RealT)
  • Supply Chain: reducing the cost of tracking your goods on the supply chain by using NFTs to represent certified transfer of ownership to various parties on the supply chain (Ownest)

My personal favorite out of these examples is health data.

There's a huge pain point around getting visibility into how our personal health data is getting used by various actors. Companies like Aimedies are working to represent this data using a token. Doing so can help to increase more trust in sharing data with health service providers, reduce friction for people to try out new health services, increase data available for scientific research, and give people a share of the overall value accrued from their data.

Very cool.

We're Early in the Wave of Change

As you can see, NFTs are already getting adopted across industries for a variety of real-world use cases.

Over time, we'll see how these use cases pan out. In the meanwhile, I hope I've convinced you that its untrue to say they're only being used for PFP art today.

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