NFTs are a type of digital asset that use blockchain technology to verify ownership and uniqueness, and they are quickly becoming a hot topic in the tech world. In this article, we will explore the future of daily tech and how NFT technology will be a part of our daily lives.

Introduction

As we move further into the digital age, more and more of our daily lives are taking place online. From shopping to socializing to working, the internet has become an integral part of our daily routine. With the rise of NFTs, we are now seeing a new era of digital ownership and value, and this is set to have a profound impact on how we interact with technology in the future.

What are NFTs?

Before we dive into how NFTs will be used in daily tech, let’s take a moment to define what they are. Non-Fungible Tokens are a type of digital asset that is unique and cannot be replicated. They are created using blockchain technology, which verifies ownership and ensures that they are one-of-a-kind. NFTs can take many forms, including artwork, music, videos, and more. They can be bought, sold, and traded just like physical assets, and their value is determined by supply and demand.

How will NFTs be used in daily life?

The potential uses for NFTs in daily tech are vast and varied. Here are just a few examples of how NFT technology could be integrated into our daily lives:

1. Digital Ownership

One of the most significant ways that NFTs will be used in daily tech is through digital ownership. With NFTs, individuals can prove ownership of digital assets, such as artwork, music, and videos. This will enable creators to sell their work directly to consumers, cutting out middlemen like record labels and art dealers. Consumers will have the assurance that they are purchasing a one-of-a-kind item, and creators will have a new revenue stream.

2. Gaming

Gaming is one area where NFTs are already being used extensively. NFTs can be used to represent in-game items, such as weapons, armor, and skins. This means that players can buy, sell, and trade items with each other, just like physical assets. In addition, NFTs can be used to represent unique in-game achievements, such as completing a difficult quest or reaching a high level. This will give players a new way to show off their accomplishments and could lead to a more competitive gaming landscape.

3. Real Estate

Another area where NFTs could have a significant impact is real estate. With NFTs, individuals can prove ownership of digital assets, such as virtual real estate. This could lead to a new era of virtual property ownership, where individuals can buy and sell virtual real estate just like physical real estate. This could be especially appealing in the world of virtual reality, where individuals can create and own their own digital spaces.

4. Identity Verification

NFTs could also be used for identity verification. With NFTs, individuals can prove ownership of their digital identity, such as social media accounts, email addresses, and more. This could help prevent identity theft and give individuals more control over their online presence.

5. Content/File Verification

Verification is becoming increasingly important in the digital age, especially as we face challenges such as deep fakes and AI-generated content. These technologies make it easier than ever to create content that is indistinguishable from the real thing, which poses a significant threat to our ability to trust the information we consume online. One potential solution to this problem is the use of NFTs. Because NFTs are created using blockchain technology, they are virtually impossible to counterfeit. This means that NFTs could be used to verify the authenticity of digital content, such as photos, videos, and audio recordings.

6. Intellectual Property Protection

NFTs can also be used to protect intellectual property, such as copyrighted works or patented inventions. By using NFTs to establish ownership and authenticity, creators can protect their intellectual property and prevent unauthorized use.

7. Supply Chain Management

NFTs could also be used for supply chain management, which would help ensure the authenticity and traceability of goods. By using NFTs to track the movement of goods from production to consumption, companies could more easily prevent counterfeiting and ensure that goods are ethically sourced.

8. Ticketing and Event Management

NFTs could be used to create verifiable digital tickets for events, such as concerts or sports games. By using NFTs to represent tickets, event organizers could more easily prevent fraud and ensure that attendees have a seamless experience.

9. Education

NFTs could also be used in education, by providing a way to track the authenticity and ownership of digital credentials, such as diplomas or certificates. This would help prevent fraud and make it easier for people to verify their educational achievements.

10. Personal Finance

NFTs could have applications in personal finance, by providing a way to track the ownership and authenticity of assets such as stocks, bonds, or cryptocurrencies. This would help prevent fraud and make it easier for individuals to manage their investments.

11. Healthcare

NFTs could also be used in healthcare, by providing a way to track the ownership and authenticity of medical records and prescriptions. This would help ensure that patients receive the correct treatments and prevent fraud.

12. Social Media

Finally, NFTs could have applications in social media, by providing a way to verify the authenticity and ownership of digital content shared on social platforms. This would help prevent the spread of fake news and misinformation, and make it easier for creators to monetize their content.

Conclusion

The rise of NFT technology is set to have a profound impact on daily tech. From digital ownership to gaming to real estate and identity verification, NFTs are poised to become a ubiquitous part of our digital lives.

Real Estate Investments

Real estate has been a popular investment option for many years. It is a tangible asset that has the potential to appreciate in value over time. There are various ways to invest in real estate, including rental properties, flipping properties, and real estate investment trusts (REITs).

Rental properties can provide a steady stream of rental income and the potential for long-term appreciation in property value. Flipping properties involves buying a property, renovating it, and selling it for a profit. REITs are companies that own and manage income-producing real estate properties. They offer investors the opportunity to invest in real estate without having to buy, manage, or finance properties themselves.

If you are a Kenyan, one of the REITs you could try is Vuka, a REIT created by Acorn Investments and Approved by The Capital Markets Authority. It allows you to invest for as low as 250/=. Try it today: Vuka Investment Club

Stocks

Investing in stocks is another popular way to grow your wealth. Stocks represent ownership in a company and offer investors the potential for long-term capital appreciation and dividends. There are various ways to invest in stocks, including individual stocks, mutual funds, and exchange-traded funds (ETFs).

Individual stocks can provide higher returns but also carry higher risk. Mutual funds and ETFs offer diversification, which can help to lower risk. They are also professionally managed, which can be an advantage for investors who don’t have the time or expertise to manage their own portfolios.

Cryptocurrencies

Cryptocurrencies have gained popularity in recent years as an alternative investment option. Cryptocurrencies are decentralized digital assets that use encryption techniques to secure transactions and control the creation of new units. They offer investors the potential for high returns but also come with high volatility and risk.

Bitcoin, Ethereum, and Litecoin are some of the most popular cryptocurrencies. Investors can buy and hold cryptocurrencies as long-term investments or trade them actively to try and take advantage of short-term price movements.

Peer-to-Peer Lending

Peer-to-peer lending, also known as P2P lending, is a way for investors to lend money to individuals or businesses through an online platform. P2P lending offers investors the potential for high returns but also carries the risk of borrower default.

Investors can choose which loans to invest in based on the borrower’s credit score, loan purpose, and other criteria. P2P lending platforms charge a fee for connecting borrowers with investors and managing the loan process.

Conclusion

In conclusion, there are various potential medium to high returns investment options available to investors. Real estate investments, stocks, cryptocurrencies, and P2P lending are just a few of the options available. Each investment option carries its own risks and potential rewards, and investors should carefully consider their investment objectives, risk tolerance, and time horizon before investing.

It’s important to note that investing always involves risk and there are no guarantees of returns. Therefore, investors should always do their due diligence and seek professional advice before investing. With careful planning and informed decision-making, investors can potentially grow their wealth over time through a diversified investment portfolio.

Now, what are smart contracts?

A smart contract is a self-executing contract with the terms of the agreement written directly into lines of code. The code and the agreements contained therein exist over a decentralized network and exist as a shared digital infrastructure, enforced by the network of computers that run the blockchain.

An example of a smart contract could be a simple agreement between two parties to buy and sell a piece of property. The contract could be set up with the following terms:

• The buyer will transfer X amount of cryptocurrency to the seller’s digital wallet
• The seller will transfer the title of the property to the buyer
• The transaction will only be completed and the cryptocurrency will be released to the seller once the title has been verified by a neutral third party and transferred to the buyer’s name.

Once the terms are coded in, the smart contract would exist on the blockchain, and it would be executed automatically when the conditions are met. In this case, the buyer transferred the cryptocurrency, the title of the property was transferred to the buyer, and a neutral third party verified the transfer, the smart contract would automatically release the cryptocurrency to the seller’s digital wallet. This process is secure, and transparent and eliminates the need for intermediaries, reducing the risk of fraud and increasing the efficiency of the transaction.

Here’s an example of a smart contract for the above written in solidity, one of the programming languages smart contracts can be written in.

pragma solidity ^0.8.0;

contract PropertySale {
    address payable public seller;
    address payable public buyer;
    uint256 public price;
    string public propertyTitle;
    bool public isVerified;
    bool public isComplete;

    constructor(address payable _seller, address payable _buyer, uint256 _price, string memory _propertyTitle) public {
        seller = _seller;
        buyer = _buyer;
        price = _price;
        propertyTitle = _propertyTitle;
        isComplete = false;
        isVerified = false;
    }

    event LogPurchase(address indexed buyer, address indexed seller, uint256 price);

    function verifyTitle() public {
        require(msg.sender == seller);
        isVerified = true;
    }

    function complete() public {
        require(isVerified);
        require(msg.sender == buyer);
        require(msg.value == price);
        seller.transfer(price);
        isComplete = true;
        emit LogPurchase(buyer, seller, price);
    }
}

Supply Chain Management

One of the most promising use cases for smart contracts is in supply chain management. Smart contracts can be used to automate the tracking of goods and materials as they move through the supply chain. For example, a smart contract can be set up to automatically release payment to a supplier once a shipment of goods has been verified as delivered. This can help to reduce the risk of fraud and increase transparency in the supply chain.

Example: Walmart has partnered with IBM to use smart contracts to improve traceability in its food supply chain. The system tracks food from farm to store using RFID technology, and smart contracts are used to automatically verify that products have been handled properly and are safe for consumption.

Real Estate

Another area where smart contracts are being used is in the real estate industry. Smart contracts can be used to automate the buying and selling of property, as well as the management of rental agreements. For example, a smart contract can be set up to automatically release payment to a landlord once a tenant has been verified as having moved into a rental property. This can help to reduce the risk of fraud and increase transparency in the real estate market.

Example: The city of South Burlington, Vermont, USA is using smart contracts to automate the property transfer process and eliminate the need for intermediaries. This not only speeds up the process but also saves on costs.

Healthcare

Smart contracts are also being used in the healthcare industry to improve patient care and streamline administrative processes. For example, a smart contract can be used to automatically release medical records to a healthcare provider once a patient has been verified as having given their consent. This can help to increase patient privacy and security. Smart contracts can also be used to automate the tracking of medical equipment and supplies, helping to ensure that the right equipment is in the right place at the right time.

Example: The Medicalchain is using smart contracts to securely store and share patient data across different healthcare providers, with the patient’s consent. This allows for a more coordinated and efficient approach to patient care.

Banking and Finance

Smart contracts are being used in the banking and finance industry to automate financial transactions and reduce the need for intermediaries. For example, a smart contract can be set up to automatically release payment to a borrower once a loan has been verified as being repaid. This can help to reduce the risk of fraud and increase transparency in the financial market.

Example: The Australian Securities Exchange (ASX) has announced it will replace its current clearing and settlement system with a blockchain-based platform that uses smart contracts to automate the process. This can reduce the settlement time and save on costs.

Insurance

Smart contracts are also being used in the insurance industry to automate the claims process and reduce the need for intermediaries. For example, a smart contract can be set up to automatically release payment to policyholders once a claim has been verified as being valid. This can help to increase efficiency and reduce the risk of fraud in the insurance industry.

Example: The startup firm Aigang Network is using smart contracts to automate the process of buying, managing, and claiming insurance for IoT devices. This allows for a more efficient and transparent process for both the policyholder and the insurer.

Voting

Smart contracts can be used in voting systems to increase transparency and reduce the risk of fraud. For example, a smart contract can be set up to automatically verify voter identities and ensure that each voter can only vote once. This can help to increase the integrity of the voting process.

Example: The West Virginia Secretary of State’s office developed a mobile voting platform that uses blockchain technology and smart contracts to enable military personnel to vote securely via a mobile app during the 2018 U.S. midterm elections. This allows for a more accessible and secure voting process.

Energy and Utilities

Smart contracts can be used in the energy and utilities industry to automate the management and distribution of energy resources. For example, a smart contract can be set up to automatically release payment to a renewable energy producer once their energy has been verified as being delivered to the grid. This can help to increase the efficiency and transparency of the energy market.

Example: LO3 Energy is using smart contracts to enable the trading of locally produced solar energy within neighborhoods. This allows for a more decentralized and efficient energy market, where energy producers and consumers can directly transact with each other. The platform also uses smart meters to track energy usage and automatically execute the smart contract for energy transactions.

Conclusion

Smart contracts have the potential to revolutionize a wide range of industries, from supply chain management to healthcare. By automating processes and increasing transparency, smart contracts can help to reduce costs, improve efficiency, and increase security. As the technology behind smart contracts continues to evolve, we can expect to see more and more innovative use cases emerge in the coming years.

One of the most exciting use cases for NFTs is in the world of art and collectibles. NFTs allow artists to create one-of-a-kind digital pieces that can be sold and traded just like physical artwork. This opens up new possibilities for artists, as they can now sell their work to a global audience without the need for physical galleries or auction houses. For example, digital artist Beeple sold an NFT of his work for $69 million at Christie’s auction house, making it the most expensive NFT ever sold.

Another industry that has been impacted by NFTs is the world of gaming. NFTs allow developers to create unique, in-game items that players can own and trade. This has led to the emergence of a new type of game, known as “play-to-own” games, where players can purchase NFTs that represent in-game assets such as weapons, vehicles, and even virtual real estate. For example, the game Axie Infinity, is a blockchain-based game, where players can buy, breed, and battle fantasy creatures called Axies, and all the in-game assets are represented as NFTs.

NFTs are also being used to create new opportunities in the world of real estate. Using NFTs, developers can create digital representations of physical properties that can be bought, sold, and traded like traditional real estate. This opens up new possibilities for investors, as they can now invest in real estate without the need for physical property. For example, the company “Propy” is using NFTs to digitize commercial and residential real estate, making it easy to buy, sell and transfer properties on a global scale.

In the music industry, NFTs are being used to create new ways for artists to monetize their music and connect with fans. For example, musicians can create NFTs that represent exclusive access to concerts, merchandise, or behind-the-scenes content. This allows artists to create new revenue streams and foster deeper relationships with their fans. The band Kings of Leon made history by selling their album as NFTs, which were bought by fans for cryptocurrency.

In conclusion, NFTs are a revolutionary technology that is changing the way we think about digital ownership and authenticity. These unique digital assets are being used in a wide variety of industries, from art and entertainment to real estate and gaming. NFTs are opening up new opportunities for artists, developers, musicians, and investors to monetize their work and create new revenue streams. As the technology continues to evolve, we can expect to see even more innovative use cases for NFTs in the future.

Blue Chip Stocks: 20%

Other Stocks + Remaining NSE 25 Share Index: 15%

Mutual Funds: 30%

Cryptocurrencies: 30%

Others(REITS and additional): 5%

I currently don’t own any real estate investments aside from Stanlib Fahari I-REIT but I’ll soon start investing directly in Real Estate which would total up to 35% I’d then use mutual funds for savings instead of investing.

I’m also looking forward to buying Ugandan and American stocks soon, so index funds will be joining the list in which I’ll allocate 20% and then move a few of the others down.

Aside from these, I am planning to buy ETFs like the ABSA NewGold ETF and more.

I am very interested in the crypto market so that percentage isn’t likely to change anytime soon. The reason for this is as I mention in my previous post which I’ll link down below. Crypto has been my “golden goose” out of all my investments crypto has brought me the highest returns on investment and as such I will stick with it for a while. To top this off the crypto market is still growing. Then there are the metaverse crypto tokens that are growing as well. So I believe crypto will remain my golden goose unless something else brings in more.

I’d like to make myself clear, every investment listed above aside from Mutual Funds will be held long-term for ATLEAST 6 months and ATMOST 30 years.

Mutual funds act as lifesaver jackets for me, as long as nothing “life-threatening” comes my way, then I am likely to hold them for the same period 6 months to 30 years.

Everything above is subject to change depending on my research and findings. Always research your preferred investments.

I’ll link all the posts I believe can help you make your own investment strategy down below. I’d love to hear more about your investment strategy and portfolio down below in the comments. So please feel free to share.

I use Genghis Capital for Kenyan Stocks(They also have a money market mutual fund), Equity for Ugandan Stocks, and Binance for Cryptocurrencies. I am slightly dissatisfied with Genghis but it’s a great company and they provide free market research as well as recommendations. Use this link to register with Binance, to use Genghis, just download their app from the Google Playstore or Apple Store and register. They have made it that simple. As for Ugandan Stocks use their online portal.

Note: I haven’t listed savings, retirement funds, life insurance, and the likes, simply because they don’t belong in this category. If you’d like me to talk about them kindly comment down below.

My plan is to live solely on investments.

That’s it for today.

Hope you have a great one!

Quote of today

Saving is puting your money to rest, investing is making your money work for you even while you are asleep

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