Are NFTs a scam?

Read full article at The Capital.

NFTs have always been ridiculed and termed as Ponzi schemes. Here are multiple use cases of NFTs that can be revolutionary. With use cases for NFTs expanding rapidly, here are some reasons why this class of digital assets is heralding a new era of the Web.

VIRTUAL IDENTITY

Using NFT avatars, you can choose to reveal certain attributes of your identity in the digital realm across various metaverses

GAMING

In-game NFTs allow players to earn income while playing, and can range from characters, special abilities to other tradable objects in games.

PHYSICAL WORLD UTILITIES

The real-world utility of NFTs is also on the rise, from exclusive access to in-person events and services.

ACCESS TO COMMUNITIES

With specific NFTs, you can gain access to exclusive clubs or communities of like-minded individuals with shared values and assets.

TICKETING

NFT ticket holders can receive additional perks and a more immersive fan experience, such as meet-and-greets, exclusive merchandise, and more.

DIGITAL COLLECTIBLES

NFTs enable verification of the authenticity and ownership of collectibles, potentially improving the way we store and collect things of value.

ART

NFTs allow proof of ownership, freedom of issuance and immutability, which have revolutionized the way we create, collect, and own art.

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