In addition to digital art, non-fungible tokens can be linked to other objects, such as real estate, a promotional offer, and a legal contract.
At the beginning of last year, there was a boom in the popularity of non-fungible tokens (NFTs) in the cryptocurrency market. By 2022, an entire NFT industry has formed. This is indicated by the growth in trading volume on one of the largest NFT marketplaces – OpenSea. In mid-January, the trading volume of the platform reached its all-time high, exceeding $3.5 billion.
A large number of NFT digital art can be found on OpenSea at the moment, but this is far from the only application of non-fungible token technology.
The essence of NFT tokens is that they are unique and cannot be divided. Such tokens are used to prove the ownership of an object, since they cannot be replaced without the consent of the owner. Thus, in fact, any virtual or physical object can be attached to the NFT. We have compiled a selection of the most unusual NFT tokens.
Former CEO and founder of Twitter Jack Dorsey put up for sale the first post on the social network and it was bought for $2.9 million. The buyer turned out to be Bridge Oracle founder Sina Estavi.
Last summer, Coca-Cola presented the NFT collection for International Friendship Day, which is celebrated on July 30th. Buyers of tokens got access to the “friendship chest” (a box stylized as a soda machine), from which collectible virtual items can randomly fall out.
On January 17, sales of NFT tokens from Quentin Tarantino based on the film Pulp Fiction started. The director will sell seven cut scenes from the film, the original handwritten script for the film, as well as his own audio commentary for it.
Earlier, due to the release of NFT tokens, the film company Miramax filed a lawsuit against Tarantino, which accused the director of violating the contract, copyrights and unfair competition. Tarantino’s attorney, Brian Friedman, denied all allegations and said his client has the right to issue non-fungible Pulp Fiction tokens.
Last April, comic book director and writer Kevin Smith was selling his new horror film Killroy Was Here as an NFT. The buyer of the token will be entitled to display and distribute the picture.
In March last year, investor Ivan Malpika floated an NFT token on the Mintable marketplace pegged to a 50 percent stake in a residential building at 5828 Wise Avenue in St. Louis.
The investor planned to solve all legal issues related to the ownership of the house by creating a limited liability company. According to him, an agreement will be drawn up with the buyer of the token, which implies joint ownership of real estate with equal shares of 50%.
In November 2021, the frontman of the Hands Up! Sergey Zhukov, together with the music label Warner Music Russia and the Binance NFT marketplace, released a series of non-fungible tokens in honor of the band’s 25th anniversary.
The collection included an NFT token for an agreement that forbids Sergey Zhukov from performing the song “Student” for life. The cost of the lot is 20 million rubles.