Creating NFTs for Physical Products
This will open Pandora’s Box…
This video explains how NFTs could be created for physical products and what function they could serve. This process has the potential to combat fraud, forgery, counterfeiting, improve supply chain, traceability, establish proof ownership, demonstrate provenance, and securely record transaction history.
NFT has massive untapped potential for application in the physical world. Beyond enabling peer-to-peer interactions for fans and their favorite creators, NFTs can be efficiently deployed for physical assets to streamline asset representation and authentication.
What is an NFT?
A non-fungible token (NFT) is a specialized type of cryptographic token representing something unique, like a domain name, a limited-time skin for a video game, or other digital properties owned by a user. Therefore, the NFTs are not mutually interchangeable, meaning an individual might trade ownership of a domain name for ownership of a rare character skin or a cryptocurrency. NFTs differ from cryptocurrency; NFTs are entirely non-fungible, and they cannot be traded for something identical. Cryptocurrency is fungible and is exchanged for something that is of equal or identical value.
#nft #rolex #rwa #creatornow
Primer on Real World Assets
https://docsend.com/view/u53utyp2j4ycg7r6
NFT Auction Site
https://duchamps.io/
______________________________________________________________________
— Business Inquiries —
https://state-change.webflow.io/
source
NFTs are a scam.
But why create the NFT for a physical product in the first place?
Owning the NFT isn't more important than the product itself.
Hey! Insightful content on phygital, and I think it would be fantastic if you could feature Another1 in your next video. They're redefining the fashion landscape with their integration of technology and fashion. I'm sure your audience would be captivated by your take on AN1. Looking forward to it!
informative and educational thanks
excited to be at the beginning of new money