While technically this example showcases beadboard rather than wainscotting, I hadn't seen this room before on Houzz and simply had to share it. The symmetrical furniture placement, unique light fixture and interesting architectural lines add up to a special room.
Some people actually detest the existing beadboard in their homes but can't justify ripping it out. Instead, they can make it disappear by painting wainscotting, walls, and ceiling the same color to make it visually recede in the background. Bright and colorful modern furniture grabs all the attention and sets the tone of the room.
Great space. Love the nook and the stark white walls allow freedom with the furniture choices, yes I'm talking to you orange. I think the rugs would be better served between the sofas instead of under them.