Too much news related to NFTs (non-fungible tokens)? We invite you to look at this emerging technology with fresh eyes. Because many of the NFT cases currently being publicized concern the exchange of works of art and game characters. But NFTs can have other practical applications, in particular to address intellectual property, logistics and health issues. So here are 10 NFT examples that go way beyond the art world.
NFTs are based on blockchain technology that stores product information and protects it from tampering. A physical object can therefore be associated with its NFT to verify its rarity and authenticity. NFTs can thus respond to current challenges in the fight against counterfeiting. A problem that affects luxury goods as well as industrial equipment, food and medicines.
The additional information or metadata associated with the product may relate to its manufacturing process (for example to guarantee a fair approach, obtaining an environmental label). Or its composition (for example nutritional information). In the manufacturing sector, NFTs can also be used to identify industrial design prototypes.
In addition, NFTs make it possible to ensure the traceability of the supply chain, from the manufacture to the use of a product. This traceability and transparency are particularly important in the food industry. For example during product recalls for health reasons.
The role of NFTs in authenticating and guaranteeing the origin of virtual works of art is beginning to be well known. But this traceability can also apply to physical works of art, current and future. NFTs thus tackle the counterfeiting, trafficking and spoliation of works of art.
NFTs can be used to transfer title deeds, provide proof of ownership, and even track changes in property values through time-stamped NFTs. NFTs make it possible to simplify and speed up real estate transactions, enable smart contracts for properties (with automatic payments) or even create decentralized home rental services. While protecting sensitive data like credit card details. Finally, NFTs will store information regarding ownership. Like its date of construction, its former owners, the work carried out.
NFT ledgers can store a person's medical records. Without compromising confidentiality or risking being altered by external sources. NFT applications have also been designed specifically to help healthcare professionals. Like NFT birth certificates that would quickly create a lifetime identity on the blockchain, linked to a birth certificate. With NFTs, authorized health providers or insurers could also more easily access the data they need. Finally, speeding up the verification of patient identity and the recording of procedures could help improve the functioning of hospitals.
NFT tokens also allow users to prove ownership of any content. Which is not possible with traditional intellectual property rights tools such as trademarks and copyrights. The same goes for patents. NFTs can be used to protect and certify ownership of an innovation or invention. NFTs could also provide the data needed for verification, creating a public ledger that would document all patent-related transactions.
As part of a training course, NFTs can provide proof of attendance and diplomas obtained. Immutable tokens can be issued for each course taken and smart contract systems can verify degrees earned. So tomorrow it would no longer be necessary to issue a diploma in paper format. NFT tokens attesting to training can also be more easily stored and transmitted to an employer or an official body.An NFT certification that would secure a NFTs can be integrated into the world of video ga
recruitment process. Because according to statistics from EveryCheck, which specializes in checking CVs, 64% of candidates lie on their CV, and 12% with serious lies.
NFTs could very soon replace bills and tickets. From parking cards, to bus/metro tickets, plane tickets or any other transport ticket. A logic that can of course also apply to show ticketing and help fight against fraud while reducing the use of paper.
In many countries, to vote it is not enough to be registered on the electoral lists. Voters must also present photo ID and proof of address. Some therefore imagine that an NFT would allow individuals to vote while eliminating cheating and electoral fraud.
NFTs can be integrated into the world of video games, enabling cross-platform playability. This allows game developers to further develop their brand. While players are incentivized to continue playing a game if they already own characters or items that can be used in different environments.
This portability of virtual elements across a multitude of platforms is one of the dreams that the famous "multiverse" offers us. But we will come back to this vast subject next time!