Long-term Viability of NFT
Another aspect of NFT use case has been adapted from the forefront concept of blockchain decentralization. Keeping track of the supply chain does not necessarily mean you know the ownership of the milk in your fridge. However, if the milk came with an NFT, people could track down what farm it came from or the date of pasteurizing. Well, this is a cool idea but people will get over it within a week.
Where this concept really makes sense is in companies that need multiple better solutions of visibility over goods from their starting to endpoints. One well-known luxury brands such as LVMH and Prada are leading the way in this area.
Consumers who buy high-end products, handbags, jewelry, or other items can prove their origin through NFT which displays the product’s history from manufacturer to store as well as proving counterfeit products.