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A new frontier for NFTs – Niftables

20 March 2023

It is likely that you have encountered discussions on NFTs from various mainstream collectors and creators who engage in the buying and selling of these digital collectibles at staggering amounts. Given that NFTs have only been in existence since 2019, this industry is still in its infancy.

NFTs offer numerous benefits that extend beyond the realm of art collections and creation. Unlike cryptocurrencies, NFTs, or non-fungible tokens, are unique digital identifiers that have the potential to serve as a digital alternative across a diverse range of industries.

In light of this, it is worth exploring the different types of NFTs, their various use cases, and how Niftables can be a valuable asset in realizing your NFT aspirations.

10 different types of NFTs break down:

Introducing the various types of NFTs that can revolutionize the digital world:

Service NFTs

Service NFTs can take your service-based model to the next level by advancing your payment from subscription models. Niftables can assist you in setting up service-based NFTs, providing services to those who have purchased your service NFTs, or allowing lifelong service with high-value NFTs.

Proof of Attendance/Proof of Purchase

Proof of Attendance Protocol (POAPs) helps business owners distribute unique sets of NFTs to provide access to in-person or virtual events. Proof of Purchase, on the other hand, confirms access to events. Niftables’ platform features can help creators mint NFTs and organize events digitally and seamlessly.

Dynamic NFTs

Dynamic NFTs give live updates and can be customized to make them suitable for present-day trends. These NFTs provide fresh opportunities to monetize and improve user experiences.

Token-Gated NFTs

Token Gated NFTs are exclusive to holders and provide access to events, performances, or spaces. They are an effective way for Web3 project creators to build genuine communities.

Soulbound NFTs

Soulbound NFTs represent a person’s credentials or affiliations and cannot be transferred. They record an individual’s reputation and showcase their work history, credit scores, repayment history, etc.

Experience NFTs

Experience NFTs engage with supporters uniquely, allowing them to communicate with their idols on a personal level, and brands to provide users with exclusive features.

Redeemable Physically Backed NFTs

These NFTs represent real-world physical assets and can be redeemed at any time. The owner or creator can sell them directly to buyers with all ownership and rights details.

Upgradeable NFTs

Upgradeable NFTs break the restriction of regular NFTs’ adaptive nature, allowing players or users to present their ideas and create something rare.

Combinable NFTs

Combinable NFTs allow gamers and users to easily upgrade or modify their in-game NFTs by combining different NFT assets. They have enabled a new way to utilize digital assets.

Music Industry NFTs

Music NFTs can replace physical music artist’s records or CDs, providing limitless access to musical materials. As an owner, you can sell your music directly to fans, set exclusive fan list records NFTs, give access to your concerts or whitelist, or even the distribution rights.

Niftables can assist you with all-in-one NFT marketplace solutions and an easy-to-use interface to empower your Web3 journey and accelerate your brand NFT ideas towards reality. With the various types of NFTs, you can choose the most suitable NFT version to empower your vision.

Proof Of Attendance/Proof of Purchase NFTs

Proof of attendance and proof of purchase NFTs are two of the most promising use cases for NFTs. These tokens can be used to verify that an individual was present at a specific event or purchased a particular item. This technology has a lot of potential in areas such as ticketing for concerts, sporting events, and conferences. By creating a unique digital token for each attendee, organizers can ensure that only those who have the NFT are granted access to the event. Similarly, proof of purchase NFTs can be used to verify the authenticity of a product, providing both the buyer and seller with confidence in the transaction. These NFTs have the potential to revolutionize the way we verify attendance and purchases, increasing security and reducing the risk of fraud.

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