NFTs can also be car keys, a valuable contract, or house locks.
Fusion offers applicable time slots for NFTs to develop new use cases.
The cryptocurrency world is currently experiencing a cycle of NFT craze, when NFT-related artworks sell for exorbitant amounts of money, and NFT-centric projects perform quite well in ‘tradeable’ markets.
The situation forces Fusion (and possibly any other crypto project) to explain what they can do for NFT. The potential of NFT in Fusion is huge, but to unleash its full potential, we must see projects that choose to implement their business in Fusion, creating a cross-chain system to move NFT between networks.
Benefits for NFT projects that choose to implement in Fusion
If the project were to do this, it would need to find a good way to filter the quantum exchange (QS) market to rule out transactions that do not suit its users and find specific ways to link the value to the NFT, as is already possible in other chains. . Fusion already has ambitious projects around this. The most prominent example is AXP, which tokenizes cars in Fusion.
AXP is also a necessary example and shows that NFTs are more than just a piece of art or game items. These can be car ownership keys, a valuable contract, house locks or real items, and just about anything that can be locked or that you would normally access with a password. This is really the tokenization of things, both tangible and intangible.
In addition to Fusion Quantum Swaps (which stands for fully decentralized trading on terms dictated by trading partners), Fusion also offers time slots. And the slots applied to the NFTs create some really cool use cases:
100% secure rental. For example, car rental companies do not have to worry about their customers not returning cars, because if they only had keys with hours, they would only work during the rental period.Guarantee of privacy in hotels. The tenant of the room will be the only one with access to their room. The hotel must wait until the time is up to gain access.Facilitate the rental of goods and services per unit of time, hours, days, etc.Rent and lease real estate, something already common and assets are valuable enough to be worth tokenizing.
Fusion Quantum Swaps also allows you to exchange multiple assets in a single transaction. This is quite unique and is covered in detail in these previous articles: MultiSwaps Execution and Potential for Multiswap Applications
Fusion Ecosystem as of Q1 2021
Create a system to move NFT through the chain
Another important focus for Fusion is interoperability. And if that becomes possible through Fusion or AnySwap, which is now actively integrating all blockchains, NFTs will move from cross-chain to Fusion and become fully compatible with Time-Lock (TL) and QS technologies, and it can happen sooner than most people think.
Crosschain development continues to focus on fungible tokens, but once it becomes so straightforward and simple that anyone can deploy fungible token bridges between two chains, it is time to apply the same simplicity to any type of token, including NFT.
There is some rationale for the initial issuance of high-value assets on a chain like Ethereum, so that you have a super solid foundation on a high-value chain (it makes it safer after all). But if someone wants to exchange or rent NFT in a decentralized way, the NFT moves through the chain to Fusion, to use the Fusion QS and TL functions.
Very soon we will see Chainge Finance, a decentralized finance project, on the Fusion blockchain. Which will create a market for quantum exchanges and locks / time frames by connecting blockchains in an ecosystem.
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