Hi Bladers 👾!

Let's talk about the Utility NFTs 🔧🎨

We’re still in the very early stages of the NFT era. Despite the fact that many NFT collections are popping up and getting popular, not all of them deal with utility as they should.

Utility NFTs are NFTs with use cases that go beyond being unique digital assets. They are NFTs that grant their owner privileges, rights, real-world benefits or rewards that they would not otherwise be able to access.

Applications of Utility NFTs

  • In the gaming industry

  • Art industry

  • Access pass for exclusive events

  • Much more...

How can a regular NFT become a utility NFT?

There are many ways to add utility to an NFT; it’s less about the technology itself, and more about the application of that technology.

The easiest way to understand utility NFTs is with an example. If an artist has created his own NFT collection and wants the public to come and take a look at them, people would have to buy an entrance ticket. Instead of issuing a ticket, the artist can mint NFTs, so they can be used as the "ticket". That utility is, in this case, access to the show.

To make the experience of being a fan even more immersive, they can also provide ticket holders extra benefits, such as access to the backstage area, merchandise and other items.

Related articles:
What is an NFT?

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