NFTs can be used to show ownership of scarce assets, such as real estate and artwork. It's crucial to remember, however, that acquiring an NFT that includes the original artwork's copyright does not automatically convey that copyright to you. While you are allowed to sell the NFT itself, you are not permitted to reproduce or sell its content.

Because NFTs are digital collectors' objects, they place a premium on possession. As previously stated, the blockchain verifies authenticity and ownership. Because these digital assets represent both physical and digital items, almost anything can be transformed into an NFT, such as:

• An NFT can be created from any form of digital content. Every time their NFT is resold, content providers, such as artists and musicians, will receive royalties, allowing them to continue to profit from their previous work. Artists are paid immediately when their NFTs are sold.
• NFTs can be used by game creators since they provide a record of ownership for in-game purchases. When an object is sold to another owner, they may receive a royalty.
• Physical things can also be tokenized and sold, however digital content is a more developed usage for NFTs. Real estate is one sector where specialists are attempting to tokenize real-world assets.

Read More: What are NFTs and how do they work?