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RESULT - Coggle Diagram
RESULT
VIRTUAL WORLD
Real estate
NFTs can be noticed as LAND in the real estate aspect of the virtual world. It enables the landowners to track the authentication of these assets through transactions recorded in an Ethereum smart contract.
An open and
fair economy
With the benefit of NFTs' distinctive process, users of the metaverse can acquire digital assets securely and develop a new trading platform for digital material.
Game
P2E games grasped the opportunity to introduce the notion of in-game treasures and microtransactions through NFTs.
Virtual lifestyle
There are NFT avatars which are algorithmically generated digital images of cartoon characters or pixelated characters in "profile picture" format.
SUPPLY CHAINS
Tracebility
NFTs have been utilized to solve traceability problem by building a digital version of the actual object to determine the origin, location, quality of the product and control inventory.
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MARKETING
Brands
NFT communities can connect potential buyers and collectors that share the same interests, particularly in the company’s product, and help businesses better understand their customers' needs.
Customer connection
Businesses launch NFTs digital collections and gain profit by selling virtual products or digital visuals of original products.
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FINANCE
Lending
NFT collateral-based lending is similar to regular lending but with NFTs representing a property as collateral at an agreeable price.
The smart contract will automatically sell the NFTs if the borrower does not pay back
Liquidity
Users can deposit comparable NFTs into the liquidity pool using protocols such as NFTX and NFT20 and exchange them at any moment or fractionalize them to provide liquidity for NFTs.