NFT as a Service (NFTaaS); NFT Will Dominate the World

Third, NFTs can include what are called smart contracts, or coded elements that can automatically take actions under certain conditions. The concept is of an automated and self-enforcing set of rules that can’t be ignored or skipped.

In essence, an NFT is a digital certificate of ownership, almost always bought and sold using cryptocurrency, to which any digital file — a jpeg image file, a video, a song — can be attached. That Hilton is able to display Iconic Crypto Queen in her home, despite having sold it, is part of the NFT’s appeal — and the challenge it poses to the establ... See more

NFT is already at the beginning of its concept and now taking over everything in business to consumer (B2C) space. It is only a matter of time to see NFT in B2B space. The question is are you ready for yet another transformation?

What makes an NFT specialAn NFT is a digital object — some computer code and data — that conveys ownership of something. The property could be online, like virtual real estate in some digital world or a special outfit in a video game. It might be something real: actual real estate, a painting, or seat at a concert. Then again, an NFT might be some ... See more

Second, the blockchain also keeps a record of all the transactions connected to the NFT and the property it represents. In art sales, for example, that could represent the provenance of something going back to the creator.

One of the major reasons the NFT trend is so spectacular is because it transforms the value proposition for creators. Instead of enlisting a publisher, gallery, or record label to monetize creative works, artists can carve out a larger slice of the total pie. This paradigm shift also breaks down the traditional stratification between consumers and ... See more