NFTs Non-Fungible Tokens Focus

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images posted online in an extreme case. “NFT-based ticket” represents a ticket issued by the blockchain to demonstrate entitlement to access to any event such as culture or sports. An NFT-based ticket is unique and scarce, meaning that the ticket holder cannot resell the ticket after it is sold. The blockchain-based smart contract provides a transparent ticket trading platform for the stakeholders such as the event organizer and the customer. Consumers can buy and sell the crypto ticket from the smart contract rather than rely on third parties in an efficient and reliable way. Protecting Digital Collectibles. Digital collectibles contain a variety of types, ranging from trading cards, wines [68], digital images [59], videos [44], virtual real estate [1], domain names [27][64], diamonds [32][47], crypto stamps [17] and other real/intellectual properties. We take the field of arts as an example. Firstly, artists in traditional ways have very few channels to display the works. The prices cannot reflect the true value of their works due to the absence of at- tention. Even worse, their published work on social networks has been charged with intermediary fees by platforms and advertisements. NFTs transform their work into digital formats with integrated identities. Artists do not have to trans- fer ownership and contents to agents. This provides them impetus with lots of profits. Typical instances include Mad Dog Jones’s REPLICATOR (selling with 4.1 million USD [36]), Grimes’s work (selling in total around 6 million USD [30]) and other works from great crypto-artists like Beeple [10] / Trevor Jones [62]. Furthermore, artists in general cases cannot receive royalties from future sales of their works. In contrast, NFTs can be programmed so that the artist receives a predetermined royalty fee each time when his digital artwork exchanges in the markets (e.g. [33], SuperRare [59], MakersPlace [37], Rare Art Lab[54], VIV3 [65]). This is an efficient way to manage and protect digital masterpieces. In ad- dition, several platforms (e.g. Mintbase [41], Mintable [40]) have even established tools to support ordinary people to create their own NFT works easily. Inspiring the Metaverse. Metaverse is a collective virtual shared space that allows all types of digital activities. Generally, it covers a set of techniques like augmented reality and the Internet to establish the virtual world. The concept stems from the last decades and has a great progress with the rapid development of blockchain. Blockchain provides an ideal decentralized environment for the vir- tual online world. Participants under this blockchain-fueled alternative realities [50] can have many types of intriguing use cases like enjoying games, displaying self-made arts, trading assets and virtual properties (arts, land parcels, names, video shots, wearables), etc. In addition, users also have opportunities to get profits from the virtual economy. They can lease the buildings (such as offices) to others to earn the bond or raise rare pets and sell them to get the rewards. Primary blockchain-empowered projects are Decentraland [1], Cryptovoxels [22], Somnium Space [57], MegaCryptoPolis [39] and Sandbox [3]. In fact, the meta- verse ecosystem covers all aforementioned applications. We list it separately here simply because it is still in an early stage due to the complexity. 12

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NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info

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