How To Add Utility To An NFT?

How To Add Utility To An NFT

How To Add Utility To An NFT?

Utility NFT is the kind of NFT that has a practical application worldwide. It defines one of the famous phrases, that is, “real-world use case.”

There are various ways to add utility to an NFT:

Make your NFT redeemable: Redeemable products, whether physical or digital, are associated with some of the best NFT utility ideas. If you are an artist, provide a specific painting that can be redeemed when someone purchases your NFT. People always love to get access to original and rare art; this will make your NFTs into utility-based NFTs.

Connecting the NFT to the real world: If you are connecting your NFT to the real world, it means the NFT has more value than other NFTs. You can offer a percentage of dividends to the holders of your NFT after some specific time. This way, you can explore real-world areas where your NFT contributes value.

There are five different types of utility NFTs: fantasy sports NFTs, gambling NFTs, Social NFTs, Community NFTs, and in-game NFTs.

   

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