The latest chapter in the evolution of decentralised ledger technologies, NFTs have stepped into the limelight over the past two years thanks to just a handful of staggeringly large valuations and sales.
While the art world is still engaged in debating whether or not Non-Fungible Tokens could ever be considered “proper” art, nevertheless some people are paying upwards of a million dollars to purchase them.
NFTs, however, are far from being the latest fad to have enraptured the global elite. Like Bitcoin before them, these blockchain tokens hold genuine potential to disrupt numerous existing markets and are already changing the way we think about and hold virtual assets.
Here are five amazing NFT innovations that have made waves in everything from gaming to social activism.
Making Café Culture Sustainable
Crypto Baristas is a new initiative that aims to use the sale of exclusive character NFTs to fund several sustainable coffee and café culture projects, with a real-world coffee house in New York City being first on the list.
NFT Gaming
The gaming industry is one that has always embraced innovation, with blockchain and crypto developments being top of the agenda. Now, several digital gaming projects have emerged with NFTs at their heart.
In 2022, WPT global virtual poker became one of the first premium iGaming platforms to integrate NFTs into its poker rooms. The platform, which is now live in over 35 locations, gives players the opportunity to create their own NFT avatar, as well as play a wealth of real money poker games and tournaments that utilise the power of the blockchain.
NFT Movies
During the late nineties to the early noughties, there was one filmmaker who became synonymous with the cult movie. Kevin Smith, the man behind slacker staples like Clerks, Dogma and Jay and Silent Bob Strike Back, made a return to movie-making recently. This time around, however, he’s created a movie using 5,555 NFTs. Killroy Was Here is the world’s first feature-length movie to be minted on the Secret Network, with each token also containing exclusive content.
Beauty on the Blockchain
Powerhouse beauty brand Clinique has opened the door to decentralised technology by launching its own utility NFTs to select customers. Each NFT gives holders access to a supply of must-have products including those rare concoctions that sell out within minutes of being restocked.
Clinique Meta Optimist was launched with the aim of celebrating the diversity of the Clinique community. Consumers are incentivised to share their own unique stories of optimising via the brand’s social media channels, which will in turn give them the opportunity to win 3 exclusive tokens. This is one of the first steps that the brand is taking to “modernize loyalty” among the millions of global Clinique users.
Empowering the Feminist Movement
NFTs are also being put to good use in socially-conscious projects, such as World of Women, which addresses worldwide issues including gender imbalance and discrimination.
With female artists only accounting for 5% of NFT sales in the 21 months leading up to WoW’s launch, the project will be creating a more equal web3.0 that gives women everywhere the opportunity to own, contribute to and create NFT art.
