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NFT

The Non Fungible Tokens (NFT) industry is booming; according to Forbes, the NFT industry has grown by leaps and bounds in the last year. The market capitalization of NFT has increased by more than 1400 percent, demonstrating the market's confidence in the future growth of NFTs.

  • In 2020, a pandemic-stricken world turned to games to get through the difficult times. In-game accessories brought billions of dollars for many top gaming companies in 2020 and 2021. The gaming industry was worth US 160 billion in 2020; TransPerfect and many other global institutions believe that by 2023, it will have doubled to US 300 billion.

    The transaction process will be sped up by selling fungible items for crypto-currencies, and players will sell their in-game fungible items for cash on the market.

    Playing the games regularly allows players to accumulate assets that they can trade with other players using NFTs. Players could gain more tokens due to their gaming experience and use them to buy better tools to help them improve their skills.

    Neom Coin plans to take the next step in the NFT game by creating an open square where users can buy and sell Non-Fungible tokens at the best price possible. Apart from an open marketplace, Neom Coin will also host an NFT conceptualization platform, which will enable artists and designers to create their Non-Fungible Tokens and then sell them for crypto-currencies.

  • The apparent meteoric rise of NFTs has also aided the disorganized and stranded field of digital arts. Data moshing, Pixel arts, Digital photography, and other digital arts are just a few examples. The adjectives "stranded" and "disorganized" were chosen because there are numerous issues in the centralized digital art ecosystem, the most serious of which is "ownership." The arts of the digital age are easily copied and counterfeited.

    NFTs, as their name implies, are non-fungible and are created on blockchains, making it nearly impossible to create an identical counterfeit artform. As a result, NFTs are the preferred medium for digital art creators and sellers.

    Neom Coin values the online arts and thus intends to launch an NFT marketplace that will benefit creators, buyers, and resellers alike. Neom Coin aims to create a transparent and fair platform where artists can receive a reasonable price for their work, ensuring that they are not undervalued. We intend to spend a portion of the NEOM tokens allocated to marketing in this area to ensure that the marketplace has many art-conscious buyers.

  • Identity theft is a common threat in the twenty-first century when digitalization is at its peak, and it can disrupt society's fundamental segments. It's critical to keep identity fraud bare minimum, and blockchain can help.

    NFTs can be used to collect and store data in the ledger thanks to the security of cryptography and the decentralized nature of blockchains, making it nearly impossible for individuals with malign intentions to tamper with someone's identity.

    Furthermore, creators can convert their works into NFTs for copyright ideas. NFTs can also verify identity by converting physical game tickets into non-fungible tokens to avoid counterfeiting.

    Neom Coin plans to develop an NFT conceptualization platform that will allow users to create their own NFTs that can include anything a human can imagine as a useful non-fungible product, thereby assisting the growth of this currently undervalued field.