• Non-fungible tokens, or NFTs, offer digital ownership beyond just art.
• These tokens use blockchain-based smart contracts that can track and secure ownership of various assets.
• Though widespread adoption remains limited, promising long-term NFT use cases are numerous — here are seven!

Have you ever considered purchasing a non-fungible token or NFT? If you’ve dismissed them as being solely related to digital art, it’s time for a revelation. NFTs, empowered by blockchain technology and smart contracts, could possess the ability to establish digital ownership over a vast array of assets. Oh, and have you seen the latest Simpsons episode about NFTs?

Full The Simpsons #NFT Episode pic.twitter.com/pIxOpefq1p

— YVRTrader (@YVR_Trader) November 6, 2023

However, as recently emphasized by Elon Musk, what really lends value to NFTs is not their place in the public imagination but their integration within the blockchain. “The funny thing is the NFT is not even on the blockchain — it’s just a URL to the JPEG,” he said during an interview on The Joe Rogan Experience.