NFTs have evolved over the past two years evolved from crypto obscurity to mainstream talking point, and this could be just the beginning. When most people at NFTs think, think of overpriced nft art, digital collectibles and very expensive cartoon monkey images.
But NFTs can enable all sorts of practical applications, from securing loans to AI-powered interior design and metaverse ecosystems.
Anything important is non-fungible
Something is fungible (fungible) if it is interchangeable with, and indistinguishable from, other items of the same type. A fungible item can be replaced with another identical item without loss of value, like exchanging one dollar for another dollar.
Fungable assets like money or gas, while valuable, are usually only important to the extent that they help us acquire something non-fungible (property, experience). Something non-fungible, on the other hand, is unique.
These are things like your own home, car and even a cup of coffee. It includes relationships, bodies and likes. Experiences, testimonials, memories, and reputation are all non-fungible. These things are unique and cannot be replaced with an identical equivalent.
Even things that start out as fungible cannot become fungible. Cars of the same make, model and year may seem reasonable when they are brand new, but when buying a used car you definitely want to evaluate the condition of the vehicle in question. In the same vein, it doesn’t matter what cup of coffee the barista hands out from a pot, but you probably don’t want to switch it for another cup of coffee after the first sip.
Digital representations of unreasonable things are useful
Retailers keep records of their customers and what they buy. This helps them support buyers if something breaks or determine what warranties apply. Interior designers and architects use blueprints to propose solutions within the confines of a space. Doctors and dentists use medical records to treat patients.
Many tech-enabled businesses are built on digital representations of unreasonable things. Spotify, YouTube, Netflix and GoodReads model user tastes to recommend content.
These digital representations allow platforms to provide services based on user data, but they do not allow the user to consume that data directly. This optimizes value for the platform, not the end user.
But even if users could access this data directly, it would not be very useful since these Representations are not standardized or portable ? they vary from provider to provider and are not compatible with other services. What does that mean? For example, end users cannot use their Spotify flavor model to find local events on TicketMaster. Or use a blueprint from home to find matching furniture at Ikea.
In most cases, the end user has no control over who or what has access. For these digital representations to reach their full potential, users need ownership and interoperability.
Decentralization gives power back to end users
Decentralization gives users the control over their data, creating real property. It removes barriers to data access, imposed by centralized platforms, enabling interoperability. unlock these properties new services and features for end users, enhance the utility of the underlying, non-fungible element and enable entire ecosystems of data-driven businesses.
NFTs or non-fungible tokens are uniquely identifiable blockchain assets used to Certification of ownership and authenticity are used. NFTs can denote assets off the blockchain, such as artworks, memberships, or much more.
Stored on decentralized blockchains instead of in central databases, no one controls an NFT except its owner. Enable portability and ownership many new use cases. Some new crypto startups are using these use cases to promising NFT projects to create. One such crypto start-up is IMPT.io, for example.
What is IMPT?
IMPT.io has brought together individuals and companies who want to make a positive contribution to the environment by rewarding both parties. IMPT offers one affordable and effective mechanism, that enables people to invest in our planet and help fight climate change.
This project has come up with Joined thousands of major retail brands and will reward investors with IMPT tokens for shopping with them ? the partners then contribute to environmentally conscious causes in order to combat climate change. impt.io already has companies like Samsung, Microsoft and LEGO on board.
Of the voluntary carbon market is worth around $2 billion annually, but will grow exponentially over the next decade, with Bloomberg estimating that it will will be worth up to 100 billion US dollars in 2030.
The Loyalty Program rewards individuals for positive contributions to environmental protection. At the heart of the platform are carbon credits ? permits that represent carbon emissions, removed from the atmosphere, with one credit equaling one tonne of carbon dioxide.
It will be as one Mechanism to reduce greenhouse gas emissions and individuals buy carbon credits to offset carbon emissions caused by delivery vehicles, travel, and industrial production.
IMPT NFTs
What does IMPT.io have to do with NFTs? Investors who don’t burn their carbon credits can mint them into NFTs and hold them as investments or sell them.
Using NFT and blockchain technology reduces fraud in the carbon credit market, because an immutable and transparent ledger means that no fraudulent loans can be created and no two companies can claim the use of the same credit.
IMPT has established itself as one of the best new NFT projects Proven to invest given their use cases and intrinsic value. Luckily for investors, they can still get involved in early-round fundraising and take advantage of this appreciation.
The first phase of the presale was sold out four weeks earlier than planned and grossed more than $13 million. the ongoing second phase allows investors to buy IMPT tokens at $0.023 per token, while IMPT will increase the value of the coin to $0.028 in the third phase of the pre-sale ? one Up 22% from current price and 55% from Phase 1.
Investors interested in the future of NFTs should now take a closer look at the IMPT NFT project and Buy IMPT tokens while they’re still affordabled and before they possibly explode once listed on exchanges.