Use Cases of NFTs

Now that you have the definition of an NFT, let's talk about some of the reasons that people buy an NFT.

First and foremost is the collector aspect, which is at the core of VRYNT.

When you purchase an NFT you are supporting the collection owners initiative. VRYNT allows you to lend your creativity into the process of creating the NFT's in the collection. Other reasons that people buy NFTs are for:

• Social Status & Online Bragging Rights

• Community engagement

• Special Gaming Items with Utility & Status

• IRL (In Real Life) Utility - Ex. Holder gains access to concerts, Real Estate, Music, etc

• Alternative Investments & Higher Returns

• Collecting digital art to display and curating rare one-of-a-kind art

Each VRYNT collection has its own unique initiative and the collection owner decides what the utility, access, promotions or perks will be for owning an NFT in their collection.

Once you obtain an NFT, you can choose to store it in a digital wallet, select it as a PFP, or display it in virtual galleries. You can also opt to sell it a later time. As a VRYNT collection creator, you may earn royalties each time the NFT is sold in the VRYNT Marketplace. On the VRYNT Platform previous owners of VRYNT NFT also receive a portion of royalties each time an NFT sells on the VRYNT Marketplace.