NFTs: The Future Of IP Transfer.
Middlemen & Brokers, Beware. Decentralized Methods Of Exchange Are Coming In Hot.
Blockchain Is Here
We’re living in one of the most revolutionary periods of the ‘digital age’. Some say this is the tech boom re-incarnated, while others spread gloom with ‘FUD’ - aka fear, uncertainty, and doubt. Take away the optimists, pessimists, and overall opinions on the projects being supported by blockchain - there’s one use case that, factually speaking, is hard to debate. NFTs are currently taking the world by storm.
An NFT Belonging To The ‘Crypto Punk’ Collection, Recently Caught The Eyes Of The Masses In A Flash Loan Marketing Stunt - Convincing Many It Had Sold For $450 Million. This Doesn’t Take Away The Glory Of Crypto Punks However, As The Largest Sale From The Collection Exceeds A Whopping $23.8 Million.
For those that aren’t in the loop, not only would i recommend reading up ASAP - but the letters ‘NFT’ stand for non-fungible token, and at a higher level, can be viewed as the ultimate form of verification. Now, questions revolving around why someone would pay so much for a digital asset that you, technically speaking, can’t actually touch or hold - are quite common and natural, even to the early adopters. However, we’re only lightly scratching the surface.
Sales Of These Digital Pieces Of Art Are, Theoretically, Merely A Proof Of Concept
This is just to show the world what the concept of NFTs can power and deliver. During all the head scratching surrounding the true value of something you can only see on a screen, one point is often left very overlooked. You aren’t just buying a piece of art/design - you’re buying the IP. That’s right, this has little to do with aesthetic value, and everything to do with the transfer and exchange of IP. Example: that crypto punk piece that just sold for half a billion dollars, enables the owner to do whatever he/she pleases with the design - as it’s now their property.
This Is A Game Of Licensing
Lunchboxes, T-Shirts, and many more can now serve as a canvas to any digital asset. Okay, yes, I know.. You’d need to move a lot of lunch boxes to cover half a billion dollars - but what if we zoom out and look from a higher level. Picture NFT marketplaces like ‘OpenSea’, facilitating the exchange of more than just vibrant cartoons. How about blueprints - product designs, structural designs, engineering master plans, patents, licensing - the whole 9.
The Concept Behind NFTs Is Strong Enough To Power One Massive Trade Network
Decentralized and fully global: picture the deeds and titles for land, real estate, personal property all holding derivative value through the mint of their paperwork on the blockchain. Instantly ready to trade and exchange. This concept, theoretically, enables the instant transfer of massive assets and estates from one party to the next, with minimal moving pieces.