Recently, Azuki, a well-known NFT project, started its first exploration of virtual reality - the launch of PBT (Physical Backed Token). It supports the binding of physical objects to the Ethereum blockchain and also realizes decentralized identity verification that creates digital experiences with physical goods.

It is not the only case. Azuki sold 8 limited edition physical gold skateboards with built-in Bean Chips at record prices of over 1,900 ETH which attracted widespread attention. This expanded the utility of NFTs into a more physical and practical scenario.

Although NFT has taken the world by storm over the past year, many people only know that celebrities spend sky-high prices on NFTs such as Bored Ape, without knowing why. They believe that NFT is useless and offers little real value except for digital assets whose value is extremely unstable.

But the potential of NFT is undeniable, and it goes far beyond the applications we can foresee. It can provide liquidity, authenticity, and traceability of origin for any asset in Web3 - whether a digital product or a physical object.

The process of acquiring NFTs is quite simple now, with many NFT markets in various scales for users to choose from. Some people simply make a choice based on their preferences or pick an NFT that may go up in price in the future, and then buy it with an equivalent token. On PlaNFT, users do not need to buy cryptocurrency through an exchange, but simply log into the Avatar Wallet via Google accounts to buy cryptocurrency with their credit cards, trade NFT, and participate in metaverse social events.

Jasmin, the popular AI artist, can generate quite distinctive artworks with keywords, and those works were uploaded to PlaNFT to create club NFTs. Fans have come to buy the artwork NFTs and join Jasmin's club. Then the NFTs become club tickets and proofs of identity. The more reputation the creator gains, the more popular the work becomes.

However, the future of NFT is by no means limited to the scenario of art collections - although it seems that the application of NFT in this scenario will continue to evolve for now.

Smart contracts on the blockchain are what drive the utility of decentralization. People intentionally assign logic, utility, and behavioral attribute to them to leverage their creative values. Starbucks Odyssey, a new membership system recently launched by Starbucks, allows users to buy digital collectible stamps (NFTs). Not only Starbucks Odyssey but Nike and RTFKT's exclusive NFT-physical hoodie, are all examples of how companies in the web2 world are making NFTs useful and practical.

Let's take another example of how NFT could be a key to a house in the future. When it is combined with the IoT, a full-stack solution using blockchain can be used to determine who has access to which part of the building and when they can access it. You could also make the NFT non-transferable to eliminate the possibility of anyone sharing their keys without permission.

Even though NFT is currently used for many purposes, it is bound to become an integral part of our future. Whether it is used to prove identity and access, or simply display personal assets, it will contribute to the convergence of the digital and real worlds as a whole.

The future may see physical assets appearing in a metaverse where their ownership and existence can be verified both online and offline. A protocol that enables the easy creation of assets will provide a common protocol to ensure the "glue" holds the connection between the real and digital worlds together.

NFT has incredible utility in the identification of asset liquidation. Eventually, NFT's utility will be greatly enhanced with the execution of the smart contract and the functional metadata, and NFT will be applied in more scenarios in the future.

Recently, Azuki, a well-known NFT project, started its first exploration of virtual reality - the launch of PBT (Physical Backed Token). It supports the binding of physical objects to the Ethereum blockchain and also realizes decentralized identity verification that creates digital experiences with physical goods.

It is not the only case. Azuki sold 8 limited edition physical gold skateboards with built-in Bean Chips at record prices of over 1,900 ETH which attracted widespread attention. This expanded the utility of NFTs into a more physical and practical scenario.

Although NFT has taken the world by storm over the past year, many people only know that celebrities spend sky-high prices on NFTs such as Bored Ape, without knowing why. They believe that NFT is useless and offers little real value except for digital assets whose value is extremely unstable.

But the potential of NFT is undeniable, and it goes far beyond the applications we can foresee. It can provide liquidity, authenticity, and traceability of origin for any asset in Web3 - whether a digital product or a physical object.

The process of acquiring NFTs is quite simple now, with many NFT markets in various scales for users to choose from. Some people simply make a choice based on their preferences or pick an NFT that may go up in price in the future, and then buy it with an equivalent token. On PlaNFT, users do not need to buy cryptocurrency through an exchange, but simply log into the Avatar Wallet via Google accounts to buy cryptocurrency with their credit cards, trade NFT, and participate in metaverse social events.

Jasmin, the popular AI artist, can generate quite distinctive artworks with keywords, and those works were uploaded to PlaNFT to create club NFTs. Fans have come to buy the artwork NFTs and join Jasmin's club. Then the NFTs become club tickets and proofs of identity. The more reputation the creator gains, the more popular the work becomes.

However, the future of NFT is by no means limited to the scenario of art collections - although it seems that the application of NFT in this scenario will continue to evolve for now.

Smart contracts on the blockchain are what drive the utility of decentralization. People intentionally assign logic, utility, and behavioral attribute to them to leverage their creative values. Starbucks Odyssey, a new membership system recently launched by Starbucks, allows users to buy digital collectible stamps (NFTs). Not only Starbucks Odyssey but Nike and RTFKT's exclusive NFT-physical hoodie, are all examples of how companies in the web2 world are making NFTs useful and practical.

Let's take another example of how NFT could be a key to a house in the future. When it is combined with the IoT, a full-stack solution using blockchain can be used to determine who has access to which part of the building and when they can access it. You could also make the NFT non-transferable to eliminate the possibility of anyone sharing their keys without permission.

Even though NFT is currently used for many purposes, it is bound to become an integral part of our future. Whether it is used to prove identity and access, or simply display personal assets, it will contribute to the convergence of the digital and real worlds as a whole.

The future may see physical assets appearing in a metaverse where their ownership and existence can be verified both online and offline. A protocol that enables the easy creation of assets will provide a common protocol to ensure the "glue" holds the connection between the real and digital worlds together.

NFT has incredible utility in the identification of asset liquidation. Eventually, NFT's utility will be greatly enhanced with the execution of the smart contract and the functional metadata, and NFT will be applied in more scenarios in the future.