NFTs are for JPEGs of monkies, right?
Here are four other ways you could use an NFT.
But, users can make different tokens for different purposes using different standards.
Different Ethereum standards are referred to by the ERC number.
This is an identifier assigned to ERCs based on the order in which they were proposed.
Not all of the NFTs we will be talking about are ERCs.
In fact, one isn’t on Ethereum at all.
it’s possible for you to even find services that can do that for you.
So, ensure that you use the right standards and protocols.
The good news is someone invented a virtual ticket stub.
Proof of Attendance Protocols (POAPs)are designed to be “the bookmarks of your life.”
POAPs look like badges that you might see in mobile games.
While they’re mostly decorative, they sometimes give the holder special abilities, like access to community groups.
If a token exists within a larger ecosystem, granting that ownership would complicate things.
The holder of anEIP-4400token is a “consumer” rather than an “owner.”
Proving Membership
There’s a lot of talk about NFTs and identity.
This usually means owners using image NFTs to signal to one another.
EIP-3525tokens don’t generally have a monetary value at all.
Their “value” is tied to how many of them are in a given ecosystem.
The tokens can be transferred but not sold.
Further, each token is unique and identifies the holder.
This can help to keep the democratic actions of DAO members transparent.
Loans and Rentals
That’s right; there’s even an EIP for making NFTs rentable.
It’sEIP-4907.Like other post-EIP-721 standards related to NFTs, this works by allowing restricted access to a standard NFT.
After a specified smart contract period, the NFT returns from the user to the owner.
Why would anyone want to rent an NFT?
There are tons of reasons.
EIP-4907 could allow the owners of NFTs to more easily lend their NFTs to these galleries.
Remember, too, that an NFT doesn’t have to be flat.
Whole virtual worlds are increasingly being minted as NFTs.
Imagine a virtual venue market where world creators make money by renting their worlds out for different immersive events.
For example, the documentary premier mentioned above could have occurred in a blockchain-rented virtual theater.
Furthermore, NFTs can be items in games.
Maybe you might rent it from another player.
Consider the virtual horse breeding and racing platformZED RUN.
Players breed their own NFT horses to get different combinations of coats and traits.
Only have one horse or want to get an attribute that no horse in your stable has?
