NFTs have been making waves in just about every industry I can think of. They’ve been used in the art industry, advertising industry and are even starting to make their way into the real estate industry.
Despite being so widespread, the technology is still not very popular with mainstream audiences. Most people do not realize what NFTs really are or have incorrect ideas about how they’re being utilized.
To combat these ideas, I talked with Click Clone Cash in order to get to the bottom of NFTs. Click Clone Cash is the definitive source for all things NFT. Whether you want news, market analysis, or project reviews, they’ve got it.
Click Clone Cash gave me a rundown of what most people get wrong when it comes to the world of NFTs, and now I’ll share it with you to shed some light on this technology.
More than Art
Many people believe that NFTs are only being used with art. While it is true that people make Gifs, paintings, pixel art, etc., and mint them as NFTs, Click Clone Cash insists that this is only the surface of the NFT iceberg.
Just about any digital asset or file can be minted as an NFT, and just about any product can have a digital form. Doing the math, you’ll see that this means almost anything can be an NFT. From songs to movies to show tickets.
Not a Ticket to Getting Rich Quick
Click Clone Cash has seen many people invest in NFTs only to lose their entire investment. They say this happens because people believe they can buy any NFT project and immediately make money. In reality, whether you are an NFT Artist or an NFT Collector, you need to do enough research just like how you would for any other form of investment.
Click Clone Cash suggests researching the artist, their background, the project’s popularity, and whether any similar projects have ever been minted. It can be very difficult to determine whether an NFT project will blow up, which is why it may be better just to buy your preference and forego the investment.
Can be Used in the Real World
We’ve actually seen the use of NFTs in the real world, beyond just virtual reality. Click Clone Cash points out Nike’s Cryptokicks as an example, as well as the many venues that have sold tickets as NFTs.
This is a popular strategy for NFT technology because it gives customers something they can hold onto for life if they want. Think of it like holding onto a ticket stub for a movie you loved.
Business, not just Pleasure
Many people seem to believe that NFTs are just for fun. They’re for people that like art, gaming, autographs, etc. But Click Clone Cash was quick to point out the practical, professional uses of the tech.
As we mentioned above, people have started theorizing and experimenting with NFTs in professions like real estate. This is because smart contracts can be minted on the blockchain, which is secure and timeless and can always be traced.
Click Clone Cash believes these smart contracts and secure data storage can be used in real estate, law, medicine, and more.
This is just the Beginning
Finally, many people believe that NFTs are just a fad and will be gone within the next couple of years. Click Clone Cash and many other experts completely disagree.
While the novelty of NFT art and products may wear off as they become more common, the technology is so versatile that it won’t go anywhere anytime soon.