The idea behind an exclusive event pass is to only allow a select group of individuals to go to the event. However, some people fake their passes to gain access. This can be avoided by using digital passes that cannot be faked, like NFTs. The only drawback is that they cannot be traded on any NFT marketplace and can be burnt if it is a one-time event.

NFTs can be used as coupons or tickets that can be used to avail 1 time or multiple discounts for the NFT owners in that select restaurant. These NFTs can also be traded on several different NFT marketplaces (before you use them, of course!) and who knows? You might be able to make a profit by merely trading those NFTs.

Using non-fungible tokens (NFTs), competitors, sports teams, and historians alike can collaborate with their favourite teams, competitions, and authentic events. People have always had a strong desire to own sports collectibles, and NFTs now make it easier for them to do so. NFT was adopted by nearly every industry, including the media, entertainment, and arts industries. The sports-based NFT marketplace value significantly increased as a result of this acceptance.

As a ticket for exclusive events and products, one of NFTs' most likely applications is as advanced versions of tickets that grant entry to exclusive events. Utility token holders have already begun receiving exclusive access to events that are not open to the general public in some projects. Because each NFT is unique, event organizers can verify these digital VIP tickets just like they would traditional tickets without worrying about ticket fraud in the best NFT marketplace.

NFTs or Non- fungible tokens are essentially videos, audio, images, or clips that are based on the blockchain, making them extremely secure and rare. These NFTs cannot be copied and there is only 1 of them. So in the case of ID cards, there is no room for a secondary person to fake one and get into any institution making it a secure medium, the disadvantage is that it can't be traded on any NFT marketplace.

The decentralised platform for managing, trading, and securely storing digital assets of sports things is called sports NFT marketplace. The platform is powered by blockchain technology, which ensures that all transactions are immutable and provides users with a secure and transparent method of doing business. We can sell, buy, and trade sports digital assets to support our favourite team, players, etc.

While purchasing or selling an NFT may be lucrative, there is no regulation, earnings and salability are unpredictable, buyers and sellers alike frequently fall prey to deception, and the majority of artists struggle to achieve any success. The possible reward could not outweigh the risks. To avoid this, users have to search for the best NFT marketplaces for trading, selling or buying their NFTs.

There are several factors that contribute to an NFT’s value. Of course, you have the value that comes with the creator. An NFT of a high-profile celebrity would definitely be more valued. And you also have the value of the underlying asset itself that determines the token’s value. The utility an NFT provides you with is also a major deciding factor. When it comes to an NFT collection listed on an NFT marketplace for digital collectibles, an important determinant is how rare an NFT is or how rare certain attributes are.