What is NEM used for?

I'm curious to know, can you elaborate on the various applications of NEM? As a cryptocurrency and blockchain platform, I understand it offers unique features and functionalities, but I'm particularly interested in hearing about the real-world use cases that make it stand out. Are there any specific industries or sectors that have found NEM to be particularly beneficial? How are its smart contract capabilities being utilized, and what kind of projects are being built on the NEM blockchain? I'd love to gain a deeper understanding of the potential and versatility of this technology.