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What are the potential NFT applications of GoodData

NFT, which enables ownership liquidity, is constantly showing the world its huge appreciating value. As NFT creators continue to encrypt their works, the value of differentiation and entertainment diversity becomes more and more obvious. The non-fungible token improves the efficiency of asset ownership transfer, reduces the dependence on middleman and retains the value to the creator or market, larging increasing the current value and future potential of the market.

As a high-speed, secure and scalable blockchain infrastructure project, GoodData has rich potential applications in the NFT field, including ID class (such as ID card), certificate class (such as graduation certificate), collectibles (such as cards), art works, game props, work rights confirmation, etc. Through leveraging the economy, users and asset aggregation flow of GoodData platform, artists can successfully monetize their digital artworks. Take gaming for example, verifiable game items can be created and managed by category; New digital collection can be supported with newly defined ecosystem and rules ;distributed storage works without depreciation; Real world assets are tokenized with significant improvement in liquidity.

Digital Art: tens of thousands of digital art sold as NFT will benefit artists all over the world. The traditional online art market is centralized, and the operation process is opaque. In addition to paying huge fees, creators have to hope that the platform will distribute their works fairly. People can create NFT encrypted artwork on GoodData with unlimited themes and rich styles. Differentiated works will bring high prices in the secondary market. Similar to paintings, songs, films, photos and other original works, the social demand is large, which is a sustainable income model.

Game items: NFT solves the problem of game props right confirmation and cross game circulation, creating a new game experience. The traditional online game publishers completely control the distribution and ownership of the game, and the props cannot be transferred to other games. NFT makes it possible for the equipment in the game to be token and the props to be used and traded in various games, realizing the dual benefits of user entertainment and economy. GoodData users can sell the NFT obtained in the game to others to monetize the time and energy invested in the game.

Physical assets: with unique characteristics, NFT can reduce the transaction friction of physical assets and further release its liquidity. Such as: real estate, government documents, certificates and degrees. The asset of the real world became a token that can greatly improve the efficiency of ownership transfer, and provide authoritative sources of facts to verify the authenticity of personal qualifications and assets.

Liquidity Mining: NFT has the same financial attribute of FT, NFT can be grafted into liquidity mining, and NFT holders can become liquidity providers of trading pairs to obtain mining income. There are auctions, casting, hanging and other activities related to NFT every few seconds on OpenSea. The rising activity of NFT will provide a value basis for its financial derivatives applications.

In the above application scenarios, users can use NFT to prove their ownership of an asset, and everyone can verify the ownership. GoodData improves the full reliability of the whole process of NFT through privacy protection, encrypted transmission and node storage, and can better protect the rights and interests of NFT participants. Application scenarios such as ID (such as ID card), certificate (such as graduation certificate), collectibles (such as cards), artworks, game props, and work confirmation can all be NFTs on the GoodData chain.

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