Creative ecosystem combines content ownership strengths with rising NFT utility

cointelegraph.com:

Nonfungible tokens (NFTs) have become known as digital art. However, to those slightly more versed in its capabilities, NFTs represent much more, bringing to life a new realm of potential, one that could not have been predicted 10 or 15 years ago. With NFTs, new products like artwork and online experiences are being created, each of which centers around an online community.

Therefore, NFTs become more than digital art or a new social media avatar. Instead, they become a ticket or membership into an elite group of artists, sports enthusiasts, passionate gardeners or local animal lovers. The result is now; users can join a community of likewise individuals in a more immersive experience than ever before.

In addition to a sense of belonging, NFT assets present solutions to several intellectual property-related concerns. Since details around their use are stored in the blockchain and tokens may have the capability to include a self-executing contract, the technology continues to find new uses. For this reason, several artists, sportspeople, teams, celebrities and others have begun announcing their own NFT collections on different platforms, each verifying ownership on the blockchain and simultaneously empowering content creators.

Inmagine, a creative ecosystem which owns 123rf.com, pixlr.com and others used by more than 25m users monthly, shares that these use cases are barely scraping the surface of what NFTs can accomplish in the near future. With the introduction of projects like Pixlr Genesis, the team believes they can take digital assets one step further in use and develop entirely new experiences between creators and consumers by providing transparency of governance and also transactions. The result is that the