Seven types of NFTs

From the NBA Top Shot in early 2021 to the CryptoPunks and BAYC trends in the middle of the year, to the recent combination of NFTs and chain games. The types of NFTs are becoming more and more diverse, and the application scenarios are also different. To help you understand the difference, let’s take a look at the 7 most common types of NFTs on Twitter.

1. Art

This category includes collectibles like CryptoPunks and The Boring Ape (BAYC), or 1/1 digital artwork on the Foundation and SuperRare platforms. People love collecting digital art for the same reasons they love physical art, fashion, and baseball cards — NFT art is a mix of aesthetics, sponsorship, status, collectability, and social.

2. Music

Music is a particularly important genre in the NFT space, as musicians are paid very little in the Web2 world. There have been many new music NFT projects recently, including arpeggi.io, Sound.xyz, and royal.io.

3. Access

NFTs facilitate the use of tickets and increase interoperability, and can be used to replace traditional tickets. A more native use case would be digital access, like a private Discord server or video lessons.

4. Game props

Web2 gamers spend about $40 billion a year on virtual items, but players don’t really own these items, the game company is the real owner. In addition, props do not support cross-game application and combination.

The emergence of NFT enables players to truly own game items, and future games will be built around user-owned NFT items. Instead of being like most games today, players are more dependent on the game when playing. Web3 gaming pioneers such as Axie Infinity and NBA Top Shot have already created a buzz, and more games like this will be released in the future.

5. Redeemable physical goods

Unisocks is a precursor to this whimsical NFT use case, where holders of tokens can exchange tokens for physical items. This mechanism can be used for a variety of offline items.

6. Identity

The way Web2 handles personal information has failed, most people’s sensitive private information has been hacked countless times, and password settings have been messed up. Companies’ long-standing privacy policies and terms of service can also be changed at will.

7. Web2 database

Using encryption methods and decentralized data storage, NFTs can be transformed into anything stored in a centralized Web2 database. This can be something as simple as viewing preferences, or something more advanced, like a user’s social map.

Owning your own data is a key part of the Web3 vision.

“This year, we’ve seen an explosion of innovation around NFTs. This is likely to continue for many years, as it’s still in the early stages of web3 development.”

About Pacific

Pacific is a decentralized NFT marketplace and an integrated platform for metaverse/GameFi assets. The project has received endorsement from some of the most eminent institutions and investors, including the Web3.0 Foundation, NGC, Gate.io, Krypital Group, PAKA, Candaq etc.

🌐Website | Telegram | Twitter | Medium | Deck | Ambassador | INO