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What are the other applications of NFTs?

• gonehome 5y ago
  Urbit IDs are the quickest example. NFTs can basically act as identity tokens that prove community membership. They can optionally have art as part of that (like BAYC), but they can also allow access to systems (like the Urbit network). This opens up a lot of potential interesting things, if you can have ID ownership that's on a public ledger that you can then rely on for access to different systems that'd be pretty interesting. I think they're pretty cool and while I was initially skeptical of the art stuff, it's interesting to see artists get money from creating things (even via resale royalties) - the best ones are leveraging that to build communities around their NFTs (events, more art, etc.) - like a club. Ownership and value are weird things anyway - especially around art. Partly tied to scarcity, partly status, social value etc. People can sneer and dismiss NFT art, but a lot of value outside of NFTs is determined by shared perception and artificial scarcity/status anyway.