NFTs with utility are arguably the most valuable type of NFT projects to invest in at the moment. The type of this usefulness and the degree of how valuable an NFT can be is based on the founding team of a particular project. So, ‘Utility NFTs’ are digital NFT collectibles that unlock some useful application for their owners. ‘Utility’ in an NFT collection refers to the added value that owning a part of the collection brings. Utility is defined as the ‘usefulness of something, especially in a practical way something useful’. ![]() What is ‘utility’ in the context of non-fungible tokens then? Therefore, all NFT projects that can be considered serious usually have some extra ‘utility’ that can be applied for different purposes. While a basic NFT token collection, that can be created by anyone has a ‘default’ value in its scarcity, there should be much more provided to token owners for a collection to get any traction in the community. Updated on 6th November 2022 What are Utility NFTs?
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