Original Author: Jindeng, Jiaqi, Miko
Original translation: NFT Labs
By classifying mainstream NFTs, we observe that the fields involved in NFTs have gone far beyond traditional artworks/collections. More and more NFT projects are beginning to empower NFT's diverse utilities and bring better experience to holders. During the bear market, those NFTs that are 100% composed of investors are basically completely cool, while those NFTs with stories, practicality and communities can continue to develop for a long time.
Art
Art
The art form has been in constant change over the past few decades. It is now entering the digital world, moving from physical to online. For artists and buyers, they are generally worried about risks such as publicity costs, resale costs, and circulation, and it is not easy to store and collect—just like the recent "Mona Lisa" was damaged and maliciously thrown cakes.
The emergence of NFT minimizes these risks. After all, the works of online artists can have good exposure-in addition to Instagram and Twitter, OpenSea is another major platform for artists to display their NFT works and gain public exposure. In addition, one of the biggest problems when buying art is whether the buyer has the threshold of high consumption power of art. With the advent of NFT, it allows buyers to make an offer or purchase at a listed price through a smart contract.
And generally speaking, reselling artworks in the primary market is taboo, but for NFT artworks, this is not a headache. In addition, NFT also brings many additional benefits-such as: Although the artist received from the initial sale, NFT allows the artist to receive royalties from all secondary sales of his artwork, regardless of how many resales The royalty mechanism has always existed, giving incentives.
The art category covers a lot of ground. Anything can be considered art. So, that's why every NFT falls into one of the three categories above. Because if it doesn't belong to the other two, it boils down to, "Someone, somewhere, thinks this looks cool and wants to buy it."
secondary title
PFP
PFP is an acronym for "profile picture", or commonly referred to as an avatar class. As of now, NFT PFP is only commonly used in a few applications such as Twitter and Discord, and of course many other social media platforms are planning to adopt NFT PFP in their applications. Currently, the main problem with NFT PFP is that the NFT PFP purchased by the holder can be copied, but obviously the product managers of most applications have considered this issue, such as: Twitter will verify the NFT profile picture, and if it is valid, the user will get a hexagonal outline ; This enables users to distinguish whether the holder of the NFT PFP is a holder, and the holder also has the capital to show off.
secondary title
virtual land
NFT virtual land is a digital land area that can be owned on the Metaverse platform. These lands are similar to "Minecraft", where users can create freely, but the digital lands are completely owned by users, unlike in "Minecraft", Microsoft owns the user's creations. When users can fully own this digital land, there are many benefits, such as: the ability to use NFT land for advertising, social, gaming and work, among other use cases.
It might sound vague, so let's explain briefly:
1. Advertising: If the user's virtual land is located in the core (popular) area of the Metaverse and can attract many tourists, the user can charge for the advertising space. Some users have previously purchased land next to the virtual land under the name of Binance and charged astronomical advertising fees.
2. Social: Users can hold events on their digital land, including concerts, conferences and community gatherings, or users can build their desired application scenarios on their own land.
3. Games: Users' NFT lands also have the opportunity to be used in NFT games. Some games require users to hold land to participate, or users can create their own NFT games on their own land
game
game
NFT represents digital assets such as avatars, game equipment and game cards in encrypted games. The appeal of NFT lies in its uniqueness, scarcity, provable ownership, transferability and indivisibility, which undoubtedly has great significance for enhancing the value of in-game items. It is worth mentioning that NFT also embeds metadata, which can be used to prove the authenticity of the asset.
membership
membership
social contact
social contact
NFTs with social attributes can provide holders with many benefits including participating in online and face-to-face social gatherings. As NFTs become more and more popular, many social networking applications are planning to use NFTs as a medium. A successful social NFT project requires an influential person (Kol) and his active community. Example: The VeeFriends NFT was created by Gary Vaynerchuk, an influential YouTuber and entrepreneur. By owning a VeeFriend NFT, the owner immediately becomes a member of the VeeFriends community and gains access to VeeCon. Different VeeFriends NFT holders can participate in different social events organized by Gary Vaynerchuk.
and governance. NFT can be used to open artistic and business decisions to fans and customer bases, and is currently mostly used in entertainment. For example, NFTs could be distributed to fans who purchased them to support a theatrical performance in pre-production. In exchange for purchasing the NFT, all holders of the asset can get votes on things like the color of the main character's T-shirt, the name of the character, or even the name of the show.
music
music
andhttp://Royal.ioandhttp://Rocki.combrand
brand
NFT has the potential to be a digital asset in the future, and the popularity of this field has caused major brands to pour into the NFT field. Among these brands, Adidas and Nike are among the best. Nike entered the NFT field by acquiring RTFKT (RTFKT is a metaverse digital sneaker asset company), they use the latest game engine and NFT technology to create a digital sneaker, such as: RTFKT designed many cool 3D Nike shoes NFT, The owner is allowed to "wear" and display on social media such as "Snapchat".
domain name
domain name
NFT can also be used for domain name services similar to . com domain names, but the difference is that domain name NFT is based on decentralized technology. The Ethereum Name Service (ENS) maps human-readable names to machine-readable identifiers for blockchain and non-blockchain resources, such as Ethereum addresses. Simply put, ENS resolves the .eth domain name to an Ethereum address. ENS can make Ethereum addresses easier to remember, and ENS domain names can be bought and sold in the secondary market.
secondary title
Defi
On Uniswap V3, Liquidity Provider (LP) positions are represented as NFTs (Non-Fungible ERC-721 Tokens) instead of the fungible ERC-20 Tokens on Uniswap V1 and V2.
epilogue
epilogue
If we make the most detailed classification of NFTs, there may be dozens of them. Here we have selected the ten most representative types at the current stage. It may be possible to look back after a few cycles, and NFT will have more classifications and applications that are unimaginable at the current stage.
Sometimes too much subjective emotion will curb imagination, so when I was doing the repair of this article, I also diffused and thought of many possible use cases. These use cases that may appear in the future and their better forms will also be sorted out and shared with you on the official account/community.
This article is a contributed article, not an opinion of NFT Labs.
