Industry applications of NFT (collection)

The Nft And with its advanced concepts of digital confirmation, traceability, and non-tampering, it has begun to integrate and collide with more and more industries, and has gradually become a new direction for industry breakthroughs and innovations.

This article will briefly list those industries that are affected by NFT and open up a new market landscape!

(The copyright of the picture belongs to the box and it is strictly prohibited to use it)

1. NFT + music! Musicians at the new frontier of NFT development

can choose to tokenize their musical works to gain more exposure. NFT proposes new solutions for musicians to expand their influence and their works, and uses new channels to attract more fans and gain more income in another young fashion circle.

At present, many musicians are optimistic about the future of music NFTs. In 2021, Gao Jiafeng will put a 7-second audio on Opensea, bringing him nearly 16,000 yuan in revenue, and also opening a new journey for domestic musicians to explore music NFTs;

A Duo released a complete music NFT work “WATER KNOW” through Ali auction, and auctioned the cover and song signature rights, and finally sold for 300,000 yuan; Hu Yanbin’s “Monk” 20th anniversary vinyl NFT was sold at a price of 199 yuan a piece Released on the music platform, the limited NFT with a total of 2,001 copies was quickly sold out.

There must be a reason why the music industry can become another frontier industry of NFT after art.

First of all, for musicians, the changes that NFT brings to musicians is intuitively reflected in income. The NFT with blockchain decentralization technology as the force eliminates the middlemen in the industry, allowing this part of the funds to be transferred to the musicians’ team. And the release of music NFTs has no impact on the income of the musicians’ original media traffic channels. This increase in income is intuitive.

In addition, most of today’s NFTs are named after digital collections in China, which deliberately weakens the attributes of NFTs as encrypted currency, cannot be re-circulated, and can be collected. Music works have the attributes of collection in the form of NFTs. Collectors find that they have collection value, and they will benchmark the corresponding collection value. NFT Development also allows music to slowly enter the collection circle.

Rock band Kings of Leon predicts that within the next decade, 70% of their albums will be released as NFTs. NFT has brought new changes to the composition of production relations such as copyright protection, distribution methods, value expression, investment choices, and consumption habits in the music industry.

2. NFT movies! A different viewing experience

The combination of NFT and movies has brought new expansion and sublimation to the recording and viewing experience of movies.

The first collaboration between NFT and film was the unreleased clip of Wong Kar-wai’s first NFT film “In the Mood for Love”, which was launched by Sotheby’s auction house last year for 1 minute and 31 seconds. NFTs began to emerge in the film industry, and in addition to video forms, many NFT creative products were born.

Haina Nebula launched the first batch of NFT digital collections of the movie “Fengshen Trilogy”. These NFTs are all used as prop cards for the platform, and the material of each NFT is taken from the real props in the movie; the movie “ZeroContact” cast the entire film into NFT for auction on Opensea. Anthony Hopkins, who just won an Oscar, tells the story of five characters trying to shut down the late tech mogul Fanny Hart that could lead to apocalyptic inventions.

The release of the NFT version of the movie will allow fans to obtain “Easter Egg” content that is invisible to the theatrical or online version, just like a limited-edition DVD. And due to the scarcity nature of NFT, all users who buy the NFT version of the movie can also conduct secondary transfers after watching and consuming, bringing follow-up benefits. This is very different from the traditional one-time consumption habit of buying tickets and watching movies. It will greatly increase the desire of moviegoers to watch movies and stimulate the increasingly weak fan economy in the industry. The fresh gameplay brought by NFT has brought a rare opportunity for reversal to the film industry, which has slowed down the market growth and is in urgent need of innovative breakthroughs.

3. NFT + medical treatment! The emergence of NFT

is expected to improve the difficulty of data retrieval of cases and medical treatment information in the traditional medical system. For ordinary people, many people may not understand the preciousness of medical data, and only think that it may be different from other data. However, these case data are often most needed for medical diagnosis and diagnosis. By continuously collecting cases of diseases, hospitals analyze the pathology and treatment keys of diseases by quantity. Therefore, cases are actually data analysis problems. Therefore, the value of the entire medical data in the future will be far greater than everyone imagines.

The medical institution gives the patient an NFT, and this NFT will accompany the patient’s diagnosis and treatment process and record all the data, so that the subsequent medical staff can adjust the best rehabilitation plan through the data feedback of the patient’s NFT, which is actually reflected in the blockchain. An action to authorize other institutions from NFT data of a patient’s medical care.

So, what if such important data is lost for some special reasons? By uploading these medical data on the chain in the form of NFT, it can be effectively solved. Based on the characteristics of NFT, the data on the chain cannot be tampered with and destroyed at will, and can be “permanent” in a true sense.

In addition, in the traditional medical industry, due to the fact that many hospitals and equipment do not communicate with each other and are not connected to the Internet, problems such as increased communication and data costs and data congestion have also been caused. For example, when a patient goes to a new hospital for treatment, he is forced to delay the best time for diagnosis and treatment because he cannot check the medical records, so he can only check it again from the beginning.

At this time, the blockchain contract can solve the problem of data retrieval between different medical institutions. Medical staff can easily check the patient’s medical records and medical information, and can quickly treat the patient, and the patient no longer needs to worry about their case information. lost or exposed.

4. NFT + real estate! Metaverse’s natural “billboard”

Friends familiar with the real estate market should all know that one of the drawbacks of traditional real estate transactions is that it is too troublesome to transfer property ownership, and the current purchase of real estate or the establishment of equity limits requires a lot of paperwork. NFT can greatly simplify the entire transaction process.

For example, if a piece of real estate is minted as an NFT, it can be brought into the NFT market and sold to potential buyers. This NFT can be traded in the form of a fixed price, or it can be auctioned for all buyers to bid on the property. Once the buyer completes the payment in digital currency and the funds are successfully transferred, the NFT will be transferred to the buyer’s wallet, the buyer will complete the paperwork, the entire transaction process is completely over, and the buyer can take over a piece of real estate within minutes. ownership.

At this time, once the buyer owns the NFT, it is equivalent to owning the actual property of the NFT. In addition to the clear geographic location of the real estate and other information on the NFT, there are also historical transaction records and some related information of the real estate, which can be consulted by buyers for purchase reference.

Check out us : Nft Development Company

Of course, to sell real estate in the form of NFTs, there must be the necessary legal preparations to ensure compliance with regulations. The new form of NFT real estate can also effectively avoid some problems, such as the loss or damage of relevant certificates, the authenticity of real estate, and the optimization of the efficiency of real estate-related procedures.

All in all, the process of transferring ownership of NFT real estate will be more convenient, and the transaction process of a few minutes is undoubtedly revolutionary compared to the time it currently takes to buy a property. And with the current desire for “one-click” buying and selling options, it is only a matter of time before NFT and real estate go hand in hand, and their combination may also change the entire industry.

5. NFT + Museum! NFT has become a life-saving straw for the cultural and creative industry

. At present, domestic museums are non-profit public welfare social and cultural institutions. Therefore, the development and operation of cultural and creative products are not within the scope of their responsibilities, and their functions are mainly in the collection, protection and viewing of cultural relics. Cultural and creative ideas and limited profit channels.

Therefore, the development of museum culture and creativity still needs to break these predicaments. However, the emergence of NFT may be more conducive to the dissemination of the culture behind the cultural relics, and can create more revenue for high-quality IP to stimulate the continuous creation of authors.

Especially the widespread application of AR technology in museum visits and the experience of digital museums, this form of combining culture and technology has won the unanimous favor of many young people. Among them, electronic cultural and creative products such as the 3D model of the collection, the secondary creation animation of the collection, etc. are easily combined with NFT Technology, which can create an NFT digital with historical and cultural accumulation, a strong sense of technology, and the aesthetic needs of young people to follow the trend. Collection.

For example, the three-dimensional replica cave in Dunhuang, which was cast into an NFT digital collection, can be viewed anytime and anywhere by clicking on the cave after purchase. After entering the viewing page, along with the wonderful classical music, users can observe the details of their own 3D Dunhuang caves in 360 degrees. And there are many more cases of the combination of cultural creativity and NFT like this.

Therefore, we have reason to believe that in the future, NFT technology may make great contributions in copyright protection, work confirmation, secondary creation and realization of museum collections, and exploration of digital protection of heritage. It will also strongly support the creative transformation of our traditional excellent culture. , innovative development.