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      Where is NFT used?

      In chapter 6 of our guidelines we will discuss directions and possibilities for NFT. Let's go through general information, where active work is already underway in cryptospace.

      Artists no longer need to rely on gallery or auction houses to sell their art pieces. They can sell their products right to the consumer. This also allows you to get higher income. In addition to this, authors can programm its NFT that way, in which they will get a profit from futher sales to a new owner. This is an advantage, as artists usually never get a profit from futher sales of their product.

      Cryptoworld was born from the digital worlds for games. Thanks to NFT, players can monetize their time spent on a game and purchase items with the right of ownership.

      Digital fashion is just on its rise. World-famous brands auction their own thematic products as NFTs in order to raise money for charity and expand their

      audience. Many people introduce the ideas of virtual collections for their avatars.

      In cryptoworld musicians can share their music among listeners without intermediaries, conduct a performance for millions of people in the Metaverse with incredible fantastic shows and keep a close contact with the fans.

      Many celebrities begin to launch their own avatars or sell unique memories, pieces of art and moments in securitized NFTs.

      Sport industry makes tokens out of the best moments of games, videoclips from games or sport inventory as a collectibles.

      This is just a small part of NFT potential.

      NFT uniqueness

      The main value of NFT is that it is a non-interchangeable token. Bitcoin or Ethereum are interchangeable. But there are no two identical NFTs. Even if multiple copies of the same NFT are created, each will be numbered or identified as a unique one in any different way. This makes NFTs collectibles.

      Many NFTs are digital understanding of what already exist. For example, videoclips from NBA games, securitized versions of Instagram and many others. But NFTs themselves are one-of-a-kind items, as they have unique IDs.

      NFT legal base

      Is there any legal protection of NFT?

      Yes. Digital and physical assets are protected by NFT ecosystem, thus, allowing to establish clear traceability. Usage of non-interchangeable tokens in blockchain based on smart-contracts makes trading digital materials on the Internet safe and easy.

      Legal framework around blockchain and NFT assets is still developing in many countries.