In 2022, digital collectibles and in-game items dominated the non-fungible tokens (NFTs) market, generating over $24.7 billion in trading volume. But critics have pointed out that these non-fungible tokens lack real-world utility.
At the same time, another kind of non-fungible token called physical NFTs started gaining momentum in the NFT space. Unlike digital art collectibles, physical NFTs have better real-life use cases.
This article will explore some of the real-world uses of physical NFTs. Before diving in, we will briefly explain what physical NFTs mean and how they work.