1.2 Value of NFT in application
Last updated
Last updated
1.2.1 Property ownership certificate
The most common challenge of digital documents is the overly low technical barrier to duplicate, once it’s duplicated, the widespread transfer of files makes it hard to confirm ownership. However, it won’t happen to NFT as the holders could prove one digital document is one-of-a-kind and “original” and address this issue, they don’t need to spend much time and energy in proving the authenticity of the digital document.
Meanwhile, NFT could be applied to conventional art to allow the artists to register and prove that they copyright the artwork, it also frees buyers from counterfeit.
When trading NFT, only some administrative fees are needed and the ownership could be transferred rapidly, and there are no geographical limits due to the features of digital assets. There’s no need to sign an ownership paper trading and it trading efficiency has been greatly improved.
NFT has often been deemed as a collectible because it is one-of-a-kind; for example, NBA Top Shot allows fans to store their favorite highlight clips as collectibles in Blockchain platforms.
NFT, the digital asset, can be presented in the form of digital paintings and even videos as mentioned in previous paragraph. Moreover, you can apply NFT to items in games for collection and application purposes. It allows NFT to have combinations of industries which will be discuss in later paragraphs.
