Industries Benefiting Heavily from Non-Fungible Tokens​

Today, the entire world is well aware of non-fungible tokens and people in the lowest economy countries know about them. People know how the sector has been expanding and the potential it has to offer. If you were to tell the same things about NFTs that we know today to a person living in 2015, they would literally laugh at your face.

However, the world has come a long way since 2015 and now, the NFTs are reality and have become the reason for many in making a living. Even the major industries have recognized the true potential of NFTs and they are showing great interest in adopting them.

As per Ido Fishman, there are many industries currently seeking exposure in the NFT sector. However, the below-mentioned sectors have already started gaining tremendously from the technology:

Music

In the past couple of years, several music artists (famous & struggling) have adopted NFTs. They have started releasing their music videos and audio albums through NFTs. According to the music artists, doing so has granted them the opportunity of interacting directly with their fans. In terms of making money, as there are no record labels or middle parties involved, it is the musicians who get to keep all the money to themselves.
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Artwork

The artwork industry has also benefited tremendously from the NFT sector. Since 2021, many NFT artwork auctions have taken place where people have spent millions in acquiring the NFT artworks. The most expensive artwork ever sold was back in 2021. The name of the artwork was Everydays: The First 5000 Days by Beeple, which sold for 38,525 ETH. At the time of purchase/bidding, the total number of ETH translated to $69.34 million.

Gaming

The gaming industry has also gained a lot from NFT technology. Since 2021, so many games have been launched into the metaverse and through the blockchains. Most of these games offer collectibles and different items that can be purchased using NFTs and other kinds of cryptocurrencies. Whether it is buying a shield, an emoji, a unique skin, or any other kind of collectible item, it is present in the form of NFTs. Over time, the NFT sector has also grown into the sports sector, and it is constantly expanding. If you want to know more about the NFT sector and its expansion, you can come back later and Ido Fishman will have something new ready for you.