NFTs? Endless possibilities from "not an" expert. NFTs with utility is the next gen.

IT is arduous to line up your thought process to define, explain and represent an NFT explanation as on today. A financial mind would think of an NFT as a scam, a marketing mind could think of it as one delicious food that can be sold to an hungry foodie, a sales mind could think of all irrelevant things to sell this zero-awareness product and so on. It could become an irony that a doctor will not be able to read this out ;) (Having cliched thought that they have the worst ever handwriting ':) ).

SO how would I start this? Lets start from Crypto. Cryptos, as I see is one of the miracle innovation that FIAT ( Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it) currencies are sucked in, digested and stored as a better alternative currency without a country identity, without a boundary-by-geography and yet has the FIAT value clinging to it. Just in time this chronology could change, Cryptos could be the next FIAT without a boundary.

When it is ardent that crypto values are based on FIAT values, NFTs values are rather the opposite. FIAT values NFTs but is never proportional to a crypto value directly. To explain this, let me list the list of questions over an NFT.

How can you see & create an NFT?

How can you touch an NFT? Is it a Tazos which you get when you buy?

Where do you buy?

How much do you have to spend to buy an NFT?

What is the use of buying an NFT? Is it better investment? ...and lots.

Before getting the answers to all of these questions, Let me give three types of an NFT. ( My own three types)

First type - An Amitabh Bachchan photo as an NFT.

Second Type - A Super Mario Boo Mushroom can be an NFT.

Third type - You driving license could be an NFT.

Of all the three types of NFTs listed above, let me now answer the questions.

All three types of NFTs are created by software using a computer over a blockchain technology and is store somewhere in a server. The NFT as you see, can be an image, or it can be a moving mushroom in the Mario Game or it can be a picture of your driving license.

All the above three NFTs can be bought, sold, stored and used in a marketplace - Like where you buy groceries, Flipkart or Amazon.

All the above three NFTs can be saved in the marketplace, under your login, under your cart tab. The NFTs can be viewed, sold, used. The log-in in the crypto world are "Private & Public Keys" (Lets not complicate).

The First type:

So again, Buying an Amitabh bachchan NFT, what purpose does it serve?

When the answer of how Monalisa's original picture is monetized by charging the entry to its Exhibit museum, the the above question can be answered. Here you still own a copy of the Monalisa's original picture in your original wallet.

Here is what you get of this, A non-fungible token (NFT) is a cryptographic asset that has the ability to be unique and unrepeatable.?The properties of this type of token can be stored and, in this way, it becomes possible to certify both the originality of the asset and its ownership. This is achieved by means of a smart contract, which also opens up the possibility of trading it. ( courtesy - https://www.iberdrola.com/)

We really have to understand that we are far off from the "First Type" NFT craze and the word is yet to reach the masses. Let me explain why NFTs makes sense by opening up thoughts on the "Second & Third" types as listed below.

The Second Type:

So when the half knowledge on NFTs spreads its wings and stutters on the face of NFT enthusiats ( eg. The same story of how a tweet was sold in millions and now just thousands) , I would like to represent one proper use-case scenario as mentioned above - GAMING.

Gaming is easy to relate. Tell me? who wouldn't have played Mario in their childhood. Lets say you play it, lost a life, you restart. Lets say you play it, lost a life and just repeat it until you finish of the game and reload your game. But here is the NFT case.

We know that the first ever jump-hit in the first level of mario is where it gives a mushroom to Mario where he catches it to make him grow. What if that mushroom is embedded and stored as an NFT in the game and when Mario gets it, you could win the NFT and the NFT could be having a FIAT value which you can save it in your wallet. The wallet is stored in the website where your game is played - A METAVERSE kind of world.

So the Game is hosted in a NFT marketplace, the wallet is your NFT wallet ( Can be a crypto wallet)

Think of endless possibilities, if the Game is a "Call of duty" kind of game? If the Game has multiplayers where each one can play & shoot and collect NFTs? IF there could be a virtual gaming experience where the world could have much more to explore & immerse the user in an not just gaming experience, but an earning experience? So, I think you have a slightly better understanding now, what is an NFT?

End line - An NFT Driven Gaming economy with users playing, earning. Developers, developing and earning . Digitals Artists, earning by selling their own ART Mushrooms which is of infinite types & powers? what not?!

Third type - The real world.

GAMING was just a tiny drop in the ocean of the endless use cases- (Again a cliché but sorry)

SO lets say, Your driving License as an NFT. Who will create it?

The government currently issues your driving license as document - A physical Tazo isnt it? Like a physical, plastic , Tazo card. What if the Government decides that the Driving license can be issued as an NFT.

Let me run through the process.

If the Government decides that your Government Driving license can be given an NFT, it could create a Gaming Simulation site.

A Government of India Gaming Simulation cum Driving License issuing website - GIGS DL ':).

I have coupled the First type & the Second type.

So what can be possible?

You get your driving license from your home by playing and winning the most advanced Driving simulation test along with Tests on Driving rules questionnaire. You win your driving license with a minimal oculus test kit? or the process can be complete after uploading the physical test report from your nearest doctor?

When your driving license is an NFT,

You get to,

Store it in your GIGs DL website and show it whenever needed?

The cops or the insurer could just scan it for its authenticity and what not?

The GIGS DL can never be copied, misused or can never be lost.

For the government, it could earn directly from the most direct way possible. It could handle the largest physical work delegation as its easiest , integrated way possible?

When this can be done, think of Land registrations, think of passports? think of ENDLESS Use cases. Let me relate to the current terms, The Amitab Bachchan's NFTs are Collectibles, The Boo Mushrooms in Super Marios are Gaming NFTs, The Government issues Driving License NFTs are Soul NFTs.

NFTs are next digital assets. Let us touch-base smart contracts, Cryptos & NFTs later. Let me know if this made a little sense.