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Non-fungible tokens (NFTs) are a new type of digital asset that is becoming increasingly popular. They are the intersection between the cryptoeconomy and video games, but they have many other applications as well. NFTs can be used for anything from decentralized business models to in-game items, collectibles, and other forms of digital scarcity. In this article, we will explore the different types of utility that NFTs can provide.

1) Event Access:

NFTs can be used to provide access to events. NFTs like Bored Ape Yacht Club’s (BAYC) and Cryptopunks provides exclusive member-only access to events and parties. This can be a powerful tool for creating a sense of exclusivity and community around an event.

2) Discord Channels:

Discord is a chat app that is popular with gamers. It can be used to create chat channels for games, and NFTs can be used to provide access to these channels. This can be used to create exclusive communities around games and increase the engagement of players.

3) In-Game Items:

NFTs can also be used to provide in-game items. This can be used to create a more immersive gaming experience and increase the engagement of players. For example, Cryptokitties uses NFTs to provide in-game items like cats.

4) Physical Items:

NFTs can also be used to provide physical items. This can be used to create a more immersive experience and increase the engagement of players. For example, Cryptoart uses NFTs to provide physical art pieces.

5) Voting Rights:

NFTs can also be used to provide voting rights. This can be used to create a more democratic and transparent system. For example, Decentraland uses NFTs to provide voting rights for their land parcels.

6) Breeding Rights:

NFTs can also be used to provide breeding rights. This can be used to create a more dynamic and interactive game experience. For example, Cryptokitties use NFTs to provide breeding rights for their cats.

7) Merging:

NFTs can also be used to merge different assets. This can be used to create a more unified and efficient system. For example, Decentraland uses NFTs to merge land parcels into a single virtual world.

8) Burning:

NFTs can also be used to burn different assets. This can be used to create a more efficient system. For example, Cryptokitties uses NFTs to burn cats that are not traded.

9) Airdrops:

NFTs can also be used to provide airdrops. This can be used to increase the adoption of NFTs. For example, ERC721 Airdrop is a project that uses NFTs to provide airdrops of Ethereum-based tokens.

10) Fractional Ownership:

NFTs can also be used to provide fractional ownership. This can be used to create a more democratic and efficient system. For example, Decentraland uses NFTs to provide fractional ownership of land parcels.

11) Data:

NFTs can also be used to store data. This can be used to create a more secure and efficient system. For example, FOAM uses NFTs to store data about the location of things.

12) Staking:

NFTs can also be used to stake different assets. This can be used to create a more secure and efficient system. For example, POA Network uses NFTs to stake tokens.

As you can see, NFTs have a variety of different utilities that they can provide. They are still in their early stages of development, but they have the potential to revolutionize many aspects of our lives. We will likely see more and more applications for NFTs as they continue to gain popularity. So far, we have only scratched the surface of what is possible with NFTs. Stay tuned for more exciting developments!