My Vision For The Future of NFT's

In my opinion, most of the world is very short-sighted and people have little idea how NFT's could soon transform the world, especially concerning legal identity, ownership, and personal data. The true value of this asset, in the end, will not be art, which is actually just a beginning point. No one knows what the overall value of this humble beginning will be, but I contend that it is immeasurable.

Here are my views on what the future may look like soon when Blockchain Technology gains mass adoption and everyone is using it in their everyday lives without even thinking about it. The next generation will no more understand the struggles that we are going through developing this technology and gaining the trust of the public to use it than people today remember and understand the adoption process of video recording devices, cell phones, or the Internet itself. Who remembers how expensive and clunky the first Beta Max recording devices were? How about mobile phones that could only be used in certain cities and could only be used for local calls? How about the Internet with shaky connections over the phone lines and without pictures or being able to transfer any large amount of data?

Our cell phones now are more powerful than the most expensive computers available only a few years ago, yet we tend to forget their early beginning and the voices that said they would never be practical and that they were way too expensive to ever receive adoption. We, as humans, are often a little short-sighted when it comes to new technology and it is really hard for us at times to look into the future and see the full potential once it has been perfected and adoption has taken place.

Passports, Drivers License, Security Pass, Voter Registration, Club Membership

An NFT stored on your cell phone or other digital wallet capable device will be able to store a unique digital ID and all of your pertinent information and eliminate the possibility of it being taken, seized, or used by anyone other than the owner. This is because your digital wallet will be secured and all of your data encrypted and only you will hold the access key or be able to release the information to an authorized agent. Your ID NFT will serve multiple purposes and will have the ability to update itself instantly. Anywhere that you are authorized to travel will be open to you, any vehicle or equipment that you have been certified on will be licensed for you to use, and any property that you have been cleared to access will be unlocked for you without any hassles and without having to fumble around looking for paperwork, passes, or keys. If you are not marked as a potential security risk then you will be able to pass right through security checkpoints at borders or board a plane for your next flight. On the other hand, if you were just near the scene of a crime or were a suspect your security clearance could change automatically so that it would be hard for you to flee an area or put people using public transportation at risk.

Ownership

We are already seeing the first items such as art and even a few homes that are beginning to use an NFT as proof of ownership. A famous artist can create a beautiful painting or sculpture and then sell it to anyone in the world. The item might change hands many times, it might even be stolen, and thousands of replicas or copies might be created. But there will always be only one original. How can a person prove beyond any doubt that they are the one and only owner of this art, it might have hung in a dozen different homes? NFT's can help solve this problem because just like the art itself, there can only be one original NFT that proves the holder of that NFT is the actual owner of the original art.

Besides an NFT being used for proof of ownership it can also serve as a way for artists to collect royalties from their work over time as the value of their work increases. The NFT can be designed with built-in smart contracts such that each time it is sold taxes can be collected if appropriate and a commission can also be sent to the creator. This too is already being utilized in the music industry where songwriters, musicians, and singers can all continue to automatically receive royalties for their original creations far into the future.

Also in the future, the ownership of anything of value will probably be recorded on an NFT and stored in the digital wallet of the purchaser. The title for that new Lambo you purchased with the SCR you earned from your last blog, or the deed to your new house, will all be stored right in your digital wallet proving that you are the rightful owner. This will help solve proof of ownership problems, even in the case of a collapsed or replaced government over the region where you live and where your possessions are stored. Suppose a coup de tat took place and your property was seized by the new government. You might not be able to do anything about it at the time and you may lose access to your property. Still, internationally you would always be able to prove legal ownership in a courtroom, and anyone keeping you from claiming your property would be breaking internationally recognized laws. These laws might not exist now but they certainly will in the future.

The Gaming Industry

You have probably already heard about NFT objects and tools that are found, earned, or purchased in an eGame that can be stored for the future, sold, or in some cases even transferred and used in a completely different game altogether. But as time and development progress these items will be automatically upgradable, through the use of AI they will be able to learn and improve, and they will be able to interact with other NFT's for enhanced performance. When utilized inside of a metaverse the possibilities are endless. Anything that can be imagined can be created and given unique value in the form of an NFT. Have you ever heard of oblokovium? It is a rare gem that is only found on the planet Azkar in a galaxy far far away. How much will this gem be worth when the first person from earth visits this planet in a virtual Universe and finds it lodged between the horns of a sysmoclopse?

Whether we are talking about real property on earth, or virtual property in a metaverse, NFT's will surely be the ultimate proof of ownership. And these same NFT's are going to transform the advertising industry, especially inside of these various metaverses. Imagine wandering around in a virtual world and finding a gift card for a local store or restaurant. How about flashing billboards in an alien environment advertising Cola or some exotic whine or delicacy? You might win tickets to events, free stays at a timeshare, or maybe a trial membership into some cool new subscription-only site. All of this can be made possible by the use of NFT's that go straight into your digital wallet as you relax and play some game that you are already enjoying without even getting the perks, but NFT's sure will enhance that experience.

The Betting Industry

The online gambling industry is huge and billions of dollars pass through online casinos and gaming sites yearly. This industry is just beginning to understand the value of cryptocurrencies and the power of NFT's. Right now it is wide open for well-positioned blockchain projects to enter this space and leverage the dynamic characteristics of the NFT to take things to an entirely new level. This is where Scorum comes in, not only are we already a bet-centric platform, but the design of our blockchain makes us well suited for this specific industry. Scorum will be able to offer our services with less expense and greater efficiency than almost any other project, and we already hold the needed licenses and experience. In fact, our team is very experienced in this field already and they are well known in the industry.

Here the NFT will again prove its power because participants will actually own something inside of the betting game that they are playing. Playing Aviatrix without an NFT plane would still be fun and you could still bet on each round, this is the way games like this are being currently played all over the world. But using blockchain technology Scorum is going to take things a step farther, now a participant will be able to purchase a game piece and own something of value inside the game. With Aviatrix a player will first purchase, name, and then customize their plane. This plane will then become a unique one-of-a-kind NFT playing piece with intrinsic value. But not only will the plane have intrinsic value, but as the game is played and the plane is utilized round after round, it will be continuously gaining even greater value. Over time the plan will reach higher levels and at each level, the participant will be able to earn more SCR just by logging in and playing the game every day. This is a fantastic play-to-earn feature that should keep participants returning day after day to play. Now a user will return not only because the game is fun and addictive, but also to earn a daily reward and continue to add value to their plane.

We should not look at Aviatrix as a Scorum-only game, Aviatrix will be an example and a testament to the power of NFT's in this powerful industry. We will be demonstrating how blockchains can turn a site-surfing occasional player into someone who returns every day for the ownership experience and the added value. Scorum could potentially revolutionize the industry by converting existing games that are already being played and enjoyed by thousands of users every day into a much more powerful NFT game with much greater client retention than ever before. This leap forward then will be a win for player experience and earning potential, and for the overall industry as a whole.

Scorum is trying to open a door up to more opportunities for its members and to create ever-increasing value for our blockchain network. But look back over this partial list of use cases for NFT technology and know that Scorum is just getting good and started, there are an incredible number of opportunities available for us if we can seize the moment and leverage our collective knowledge and the proven resiliency of our network. I hope that the Scorum community stands up and walks through this new door of opportunity together. The applications belong to Scorum Inc., but the blockchain belongs to the powered-up members, and this may become our time to shine as the Scorum blockchain shows off what it is truly capable of doing!