What is Utility NFT?

Utility NFTs are specialized digital assets with practical functionalities beyond regular NFTs. While regular NFTs represent ownership, Utility NFTs offer tangible benefits and access within specific platforms. They grant exclusive access, in-game advantages, or unique experiences. Utility NFTs can integrate with DeFi protocols, enabling collateral usage and participation in governance. Unlike regular NFTs, Utility NFTs bring practical value and purpose, enhancing user experiences and creating new opportunities within digital ecosystems.
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