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So, You Got an NFT, Now What?
November 9, 2021
Marketing

So, You Got an NFT, Now What?

Author: Synesis One

Whether you buy a piece of digital art, a word, or some other digital asset, the question that arises is: What do I do with my NFT(s)?

NFTs In the Metaverse

NFTs have taken the world by storm, and now there are more ways than ever to own one. We’re still early in the game, meaning you have plenty of opportunities to still get involved. Our lives are becoming increasingly interconnected with the digital world, or in more recent terminology, the Metaverse. The Metaverse could be the future of the internet, encapsulating current trends such as real-time 3D worlds in an online infrastructure. NFTs will be highly valuable in this so-called Metaverse, but that’s not the only reason to collect them.

Luckily for you, there are many applications for NFTs — and many more we have yet to uncover. Let’s take a look at some of the most popular in today’s age.

Hold and Earn

One of the initial reasons many people decide to embark on owning NFTs is to earn money, and there’s good reason. If you paid any attention to the market over the last few months, you would’ve noticed some NFTs selling for massive amounts of money. The most expensive to date was a piece of art created by artist Mike Winkelmann, or better known as Beeple. He had been composing a piece of digital art every day since March 2007 before collecting them into his NFT, which sold for $69,346,250 at auction.

Though Beeple is an outlier and his success may seem insane, the potential for valuable NFTs stands.

However, art is not the only valuable type of NFT. NFTs are also being used in the fashion industry, which can rely on NFTs for authenticity verification and to eliminate counterfeits. Some brands are using them to digitize limited editions of their collections, which you can hold just as you would a rare or unique piece of physical clothing.

Licensed collectables also provide another opportunity to hold and earn money, which is built upon an already strong sector of physical collectables like trinkets, trading cards, and memorabilia.

Display It

As we are diving deeper into this technological world, NFTs provide us with a new way to fill it with art and even personalized merchandise. Just as you would display a painting or image in the physical world, such as in your home, you can display NFTs in the digital world. And with the ownership rights that come with owning your NFT, you can even have exclusive rights to personalize your own merchandise.

From monitors and iPads to PFPs on social media platforms and Metaverse galleries, there are many ways to display your NFT digitally to create a more unique online world. With the recent BoredApeYC sneakers appearing on the NBA court, we might even see more NFT displays in fashion and other merchandise.

Take Gaming to the Next Level

If you are someone who enjoys video games, you can use NFTs to take your experience to the next level. Virtual reality (VR) and augmented reality (AR) first kicked off this trend, and NFTs are now doing the same.

You can turn your gaming from a paying to win to a play to earn system. With your NFTs, you can trade or exchange collectables in-game, where developers are working on developing NFTs into sellable items. Unlike art, fashion, or trading cards, in-game NFTs will provide you with a door into a much more complex and fully interactive environment that is constantly changing.

Use it for the Greater Good

Lastly, you can use your NFT for the greater good of humanity. For example, many NGOs are using them for environmental purposes, allowing you to purchase one that provides you with a way to own, for example, a forest parcel and a 30-year carbon credit.

Here at Synesis One, you can own one of our vocabulary-NFTs that are being used to fuel the Synesis One ecosystem to train AI with a human-centered approach. This means you can play a direct role in helping to create technology that could one day solve many of humanity’s most pressing problems.

There are many options when it comes to using your NFTs. Whether you earn money and rewards, display it as art, improve your gaming experience, or use it to combat environmental and technological hurdles, you will be taking part in a revolutionary and fast growing field.