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The future of NFT?


luckypenguin
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  • 3 months later...
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NFT is the future of everything as we know. You have to look  and think about all the use cases for a NFT. You will see everything adopted to one form or another of NFT from concert tickets to purchasing a house. Imagine this scenerio, you bought a house right? Well who do you have to negotiate your terms with? The bank or mortgage provider. Imagine having your home as a NFT which you can add or remove parameters. You want to sell your home you wouldn't need the bank because you can use your "NFT" and add your parameters to it for example:

bob agrees to sell alice "insert property" for value X

if alice agrees to pay X 

elseif alice pays bob y on the first of each month until X is paid in full

If Alice defaults on "insert property" after three months "insert property" is returned to Bob.

-keep in mind this would be written and doxxed properly but the benefits is

A - you wouldn't need a banker or centralized organization

B - everything is complete and fully verified and kept on the blockchain and can never be changed or denied and fraud would be next to impossible

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Your favorite artist is having a concert and instead of a piece of paper that can easily be damaged or lost its sold as an NFT verified and forever on the blockchain. You can't loose it and no one can say you weren't there. 

 

There are so many cases of NFT / Smart Contracts and the blockchain the possibility Is endless if you can imagine It you can do it with blockchain technology

Anyways don't mind my terrible excuse for an example I'm not trying to write contracts but merely showing simple example 

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In addition to the fact that NFT can be equated to a document format and practically rid the world of bureaucracy, protect copyrights and intellectual property on the Internet from theft and other problems, provide a profitable business model for artists and gamers, there is an even more global ideology embedded in this technology - decentralization. That is, thanks to blockchain technology, it is possible to eliminate various intermediaries: lawyers, politicians, banks. You can no longer depend on their terms, because there are smart contracts, which do not require a human, the machine code will work everything as precisely and quickly as possible; there is bitcoin - a currency, wallets, all transactions with which are securely protected; there is NFT, which allows you to transfer any product to the blockchain and simplify all interaction with it. 
 

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