NFTs have gotten a lot of media attention in the last few years for their monetary value. However, there are uses for NFTs that go beyond the hype. NFTs can be used to transfer digital ownership, revolutionizing how we think of anything from IP ownership to the transfer of goods on and offline. NFTs can potentially disrupt paywall, subscription, and membership models as we know them today. The tech will also further the adoption of Web3 by enabling organizations to truly sell goods online without worrying about what will happen later.
NFTs always remain unique
What makes NFTs valuable is that they cannot be duplicated, replaced, or otherwise rendered non-unique. Due to this ability to make unique tokens, they can be used to create subscriptions that you have ownership over. Because you own the subscription instead of buying access to it, you alone have access to the data associated with it. When you’re done with it, you can sell or move it as you please.
This prevents users from being locked in contracts of months or even years that are commonplace in modern internet service companies. However, NFTs do not merely replace the way you pay for content. This content becomes available on the blockchain, and your NFT is what allows you to have access to it.
Real-world use cases for NFTs
As the popularity of NFTs grows, so does the number of use cases for them. There are several startups that are using NFTs in applications outside of digital art.
A company called 3air plans on using NFTs to provide internet service in Africa. 3air sells the customer an NFT that grants them an internet subscription while allowing users to sell, move, and reuse their subscription token as they please. These membership tokens allow consumers to own their data, especially their financial data because their subscription is purchased with cryptocurrency and doesn’t give companies access to their bank or demographic data.
This NFT subscription model demonstrates new use cases for NFTs that have not yet been widely explored. With this strategy, 3air will connect millions of unbanked individuals in Africa to the economy. Through NFT subscription models for internet service, users who may be otherwise stuck with 2 or 3G connections will suddenly be connected to a much wider audience, empowering individuals with the ability to sell their products globally or simply access the internet that the rest of the world enjoys already.
3air will launch its token in the coming weeks as it prepares to launch its connectivity services in 2023. With new use cases emerging for blockchain technology through cryptocurrency and NFTs, companies like 3air can help bring equity to remote locations throughout the globe that have thus far experienced setbacks from bad connectivity.