NFTs or non-fungible tokens are unique types of tokens that can provide ownership of a particular asset. This token is not exchangeable with another token as every NFT is different from one another. NFTs are not like other digital tokens or currencies. There are many NFT applications. These are programmable art, authenticating luxury goods, verifying licenses and certifications, owning collectibles, tokenized sports industry, providing unstoppable domains and Ethereum name service, ownership of identification, safeguarding asset forgery, and expanding paperless transactions, etc. NFT applications are vast and can be utilized in many sectors. To help you guide through the ecosystem, we at 101 Blockchains are offering a complete course on NFT. This course will help you understand what NFT is, but it will also give you a good idea of NFT applications. The following courses will help you learn about NFTs-> NFT Fundamentals Course https://academy.101blockchains.com/courses/nft-fundamentals Ethereum Development Fundamentals Course https://academy.101blockchains.com/courses/ethereum-development-fundamentals Learn more about the certification courses from here -> Certified Enterprise Blockchain Professional (CEBP) course https://academy.101blockchains.com/courses/blockchain-expert-certification Certified Enterprise Blockchain Architect (CEBA) course https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect Certified Blockchain Security Expert (CBSE) course https://academy.101blockchains.com/courses/certified-blockchain-security-expert Learn more from our guides -> https://101blockchains.com/non-fungible-tokens-nft/ https://101blockchains.com/nft-use-cases/ https://101blockchains.com/non-fungible-tokens-in-2021/ https://101blockchains.com/most-expensive-nfts/ https://101blockchains.com/nft-future-applications-and-challenges/ https://101blockchains.com/advantages-of-nfts/ https://101blockchains.com/types-of-non-fungible-tokens/ https://101blockchains.com/use-cases-of-nfts/

1. AN ULTIMATE GUIDE TO
NFT APPLICATIONS
101blockchains.com

2. What is
NFT?
NFTs or non-fungible tokens are
unique types of tokens that can
provide ownership of a particular
asset.
This token is not exchangeable
with another token as every NFT
is different from one another.
NFTs are not like other digital
tokens or currencies.

3. List of NFT Applications
8
5
%
1
5
%
It
e
m
2
9
5
%
It
e
m
1
5
%
9
0
%
1
0
%
8
0
%
2
0
%
5
5
%
4
5
%
60%
40%
Ite
m
2
70
%
Ite
m
1
30
%
6
5
%
3
5
%
Programmable Art
Providing Unstoppable Domains
and Ethereum Name Service
Ownership Of Identification
Authenticating Luxury Goods
Verifying Licenses and
Certifications
Tokenized Sports Industry
Owning Collectibles
Safeguarding Asset Forgery
8
0
%
2
0
%
5
5
%
4
5
%
Expanding Paperless Transactions Increasing Real Estate Liquidity
8
0
%
2
0
%
5
5
%
4
5
%
Tokenizing Real-World Assets Increasing Logistics Transparency

4. Programmable
Art
Programable art is one of the
popular and common applications
of NFT. This type of application
introduces a combination of
technology with creativity.
Artists can develop a digital form of
art and sell it on marketplaces. It
can also help to tokenize real-world
art pieces.

5. Authenticating
Luxury Goods
There are a lot of counterfeit
issues in the fashion or luxury
goods industries. By using NFT
based tokens, brands can
tokenize and authenticate their
products.
Customers only have to scan the
price tag or QR code to check
whether the product is authentic
or not.

6. Verifying Licenses
and Certifications
Typically, most of the licenses and
certifications of any sort come in
a paper-based form. However,
there are issues regarding the
duplication or replication of
certification.
Using NFTs, educational
institutions or any employer can
verify whether the certification or
license is authentic or not.

7. NFT
Owning
Collectibles NFTs are taking collectibles to a
whole another level. Collectibles
like CryptoPunks or CryptoKitties
are extremely popular NFT
applications.
Users can own and even breed a
new type of NFTs based on the
rules of the NFT project.

8. Tokenized Sports
Industry
The sports industry have to deal
with counterfeit merchandise and
tickets problem. NFTs using
blockchain can allow this industry
to tokenize their merchandise and
tickets or other consumer goods.
Fans can buy these products and
claim their ownership in the real
world.

9. Providing Unstoppable
Domains and Ethereum
Name Service
NFT applications provide
Unstoppable Domains and
Ethereum Name Service as
addresses. These are unique
crypto addresses similar to
Facebook, Twitter handle
names.
This allows users to sell their
unique crypto addresses
flexibly without any
restriction through secured
channels.

10. ?
Ownership of
Identification
Users can own their identification
documents or signatures as NFTs
and provide access to them when
needed.
Not only individuals but any brand
or enterprise company can use
NFTs to register their identity and
have secured storage for storing all
the personal data.

11. Safeguarding
Asset Forgery
NFTs can stop data duplication and
modification once and for all. As
NFTs utilize blockchain technology,
any data or information on the
ledger can’t be modified or
duplicated.
That’s why they are a promising
solution to safeguard assets.

12. Expanding Paperless
Transactions Enterprise companies can utilize
NFTs to digitize the documents
needed for paperless transactions.
This process is faster than the
conventional system as it takes less
time to verify official
documentation and process the
payment.

13. Increasing Real
Estate Liquidity
NFTs can offer more liquidity in the
real estate sector. The demand for
in-game real estate on the markets
is huge at the moment.
In addition, tokenizing real estate
and digitally buying and selling
that NFT can help owners to
properly claim their assets. It will
also break the entry barrier to real
estate investment.

14. Tokenizing
Real-World
Assets
Real-world assets can be linked to
NFTs. Any type of real-world asset
can be converted to NFTs; there are
practically no limits to this.
There are already many high-end
brands that are tokenizing their
products and offering their
customers ownership using
blockchain.

15. Increasing Logistics
Transparency NFTs can represent unique items.
Tokenizing supply chain data can
help in preserving their reliability
and authenticity.
Consumers can also use their
unique identification to view their
origin. Companies can also use
NFTs to trace tokenized items
when in transit.

16. Challenges for NFT
Environmental Impact
Seller Tax
Ownership Rights

17. Environmental
Impact
NFTs use public blockchain
platforms. Unfortunately, public
blockchain platforms are energy-
consuming.
Therefore, it impacts the
environment effectively in terms of
using resources. As a large number of
users are minting NFTs on a daily
basis, energy consumption is at an
all-time high.

18. Seller Tax
The taxation of NFTs is going to
affect the growth of this industry.
Many sellers have to pay a huge sum
of taxes if they can make a sell on the
NFT marketplaces.
It can go up to 28%, which is
extremely high and a burden for a lot
of artists and creators.

19. PATENT L
AW
Ownership
Rights
Although NFTs can offer ownership
rights to the creator, they don’t
impose those rights or offer
additional support to the original
creators.
This creates many disputes where
creators seek legal action against
resells of their NFTs without their
consent. As it’s a new technology,
legal authorities are finding it hard
to resolve the issue.

20. Learn More About NFT Applications
NFT Fundamentals Course
https://academy.101blockchains.com/c
ourses/nft-fundamentals
Ethereum Development
Fundamentals
https://academy.101blockchains.com/courses/et
hereum-development-fundamentals

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investment and legal issues, 101 Blockchains does not provide any business, financial, legal or investment advice and this document should not be
construed or used as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this publication.