Introduction
Non-fungible tokens, or NFTs, are a relatively new addition to the blockchain ecosystem. They’re essentially digital assets that have unique serial numbers and can’t be duplicated. This is unlike traditional cryptocurrencies like ether, which are fungible.
I think non-fungible token creations will be pretty prevalent in the future, so why not make them free to mint?
I think non-fungible token creations will be pretty prevalent in the future, so why not make them free to mint?
- NFTs are a great way to represent a physical asset. You could have an NFT for your car, house, art piece or even yourself!
- They can be used for a variety of purposes: as collectibles on DApps like OpenSea and Rarebits; as game items inside games like CryptoKitties and CryptoCelebrities; as digital collectibles on websites like dapper.io; or even just to represent your identity online (like how Facebook makes you prove who you are).
- Fungible tokens were created first and foremost because they’re more economical than their non-fungible counterparts—but I think we’ll see more people creating NFTs because they offer many benefits over fungible tokens such as transferability/ownership of certain types of assets (which is why we’re seeing so many new companies spring up around this idea).
A good example would be setting up an NFT token that represents an hour of your time and time slots can be bought.
A good example would be setting up an NFT token that represents an hour of your time and time slots can be bought. This token can then be redeemed for an hour of your time or someone else’s, or it could be exchanged for a service. For example, you may set up a service where you offer one-on-one consulting, and clients would have to buy your token before they can schedule a meeting with you.
These tokens could also be used as membership tokens that could automate billing cycles.
Membership tokens could be used to pay for a monthly subscription.
Membership tokens could be used to pay for a one-time fee.
Membership tokens could be used to pay for recurring fees, like Netflix or Spotify subscriptions.
Membership tokens could also be used as discounts on subscriptions, like getting 50% off your first month if you use NFTs!
The possibilities are endless.
NFTs are incredibly flexible and can represent any type of asset, from real estate to art to collectible toys. You can use NFTs as an easy way to manage your assets, trade them with other users and keep track of their value over time.
The possibilities are endless, so get creative and playful!
Conclusion
I think non-fungible token creations will be pretty prevalent in the future, so why not make them free to mint?
