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Current Use Cases Although property and NFTs may sound like a marriage made in blockchain, this space is not even close to reaching its infancy. homebuyers to The technology has yet to mature for There are other industries where NFTs are currently disrupting: Art The Mona Lisa is likely the most popular artwork worldwide, but most people would be hard-pressed to distinguish the painting from a replica. Why do millions of people stand in line for hours in order to see something that they can purchase on a keyring? Well, of all the Mona Lisa's in the world, there's only one that counts. • This indicates that the value of art is not in its physical form but in its perceived value as a result of its provenance and scarcity. • To put it simply, people like to own original or at least limited-edition items. NFTs allow us to create digital objects that are truly unique, with an individual history that can be tracked & verified, much like the one true Mona Lisa. Digitizing art and putting it on a blockchain will be recognized as one of the most important developments in art history. • Art auction house Sothebys uses ten factors to value art, and blockchains enable three of the most important ones: o Rarity: Collectors can look at the blockchain and see exactly how many assets exist. o Authenticity: Collectors can look at the blockchain and inspect an artist’s contract address to ensure artwork is authentic and made by a specific artist. Forgeries are not possible if you inspect the blockchain. o Historical Importance: Collectors can see exactly who owned a piece of art, when they owned it, and even how much they spent on it 4 utilise an NFT in the purchase of physical property. Artists can use NFTs to sell directly to their fans and collect royalties every time their NFTs are resold.PDF Image | Primer on Non-fungible Tokens NFTs
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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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