The most misunderstood product in the blockchain industry is NFTs. They have always been associated with digital art since their mainstream introduction in 2021. NFTs can be used for more than just high-end arts. NFTs have become a popular digital collectible. Athletes are particularly interested in NFTs for preserving iconic moments from sports history. Many developers in the video game industry are working to incorporate NFTs into their games. The metaverse is where NFTs will find their greatest use. We will be exploring the NFTs world, beyond digital art, in this article. This article will introduce you to the top platforms that allow access to NFT products.
Most people’s introduction to NFTs was in 2021, when digital artist Beeple, sold his artwork 5,000 days at Christies for a staggering $69million. NFTs have become a standard in mainstream culture. Since that time, digital artists are increasingly using NFTs to communicate with their clients. But enough about art – what else are people doing with NFTs?
The second most popular NFT product is digital collectibles. Bored Ape Yacht Club was a compilation of computer-generated images displaying lackadaisical primates. Its sales totaled more than $180 million within one week, according to Business Insider. NFTs have also been a big part of the sports world. Tyson Fury was the champion lineal boxing heavyweight and partnered FOMO labs in 2021 to launch an NFT-themed collection. The creme de la creme of the collection, ‘Lineal’ by Tyson Fury sold for nearly a million dollars, becoming the highest-selling boxing-related NFT ever sold.
FOMO Lab, the leading IP specialists, FomoVERSE architects and creation studio has brought to market a myriad of futuristic NFT collections to the space. In the automotive world, Miami Crypto Experience has teamed up with FOMO labs for the release of the first-ever Porsche on blockchain. NFTs have also been disrupting music by using innovative melding blockchain technology and music. The 808 Mafia’s PVLACE also joined forces with FOMO Labs, creating a collection which included original musical compositions.
The metaverse will show the true extent of NFT utility. There are many uses for NFTs in cross-reality space. Digital admission tokens, among others, can be used. There are many applications, but the NFT industry needs a platform to bring these functions together in an easy-to-use and productive environment. FOMO Lab serves as a one-stop-shop for all aspects of the NFT ecosystem, from a launchpad for assisting in the growth of new crypto projects, to a multi-chain NFT marketplace – The Avenue Marketplace – which has interoperability across different blockchains. This holistic approach to building an NFT community is the best way to push the limits of blockchain technology and give users ownership of their digital assets.