After a spectacular run in 2021, almost everyone at least superficially knows what nonfungible tokens (NFTs) are. Although not many people are aware that NFTs constantly get new entrancing functionality and use cases.
This article will highlight the role of an exciting feature: unlockable content in NFTs. We will break down for you its advantages and use cases and show how to add unlockables to your NFT collection.
What is an NFT?
Traditionally, NFTs are described as unique cryptographic digital assets on a blockchain that can be bought and sold online. They could be nearly anything, including digital pictures, songs, videos, in-game items, real estate or even personal genomes.
Most notably, NFTs provide advantages for artists, such as decentralization, verification and management of ownership, ease of transferability and trade, rarity and scarcity. Most important of all, NFTs construct a completely new creator economy, with the possibility for creators to earn royalties from secondary sales without the mediation of any third party by setting up smart contracts.
Yet despite the apparent advantages of NFTs for artists and the community itself, a lot of people are still convinced that they are just a temporary craze. NFT skeptics keep repeating over and over that such clumsy digital NFT art on a blockchain, in reality, has very little to do with true art.
For sure, the majority of NFTs exist as various static items on blockchains available for purchasing and selling on online marketplaces. And since there is no mediator, they can be totally anything, including low-quality content as well.
However, the community must not forget that the NFT phenomenon encompasses not only digital art and trendy overpriced collectibles because the underlying technology enables creators to do much more than standalone JPEGs or GIFs.
NFTs enable dozens of use cases. For instance, by their nature, NFTs represent unique tokens that can be “owned” by users, meaning that any NFT can also act as a form of proof, a certificate or a key….