For Messari research analyst Mason Nystrom, non-fungible tokens are a legitimately useful technical standard with a wide range of potential applications.
“There are various potential applications for NFTs beyond collectibles including domain names (e.g. Ethereum Name Service), financial products like carbon credits (e.g. Nori), event tickets, gaming, certificates of authenticity (e.g. Treum), and more. Any digitally native asset that has a large set of unique information can be issued as an NFT,” he told Cryptonews.com.
Dragan Boscovic, a research professor in computer science at Arizona State University, also agrees that NFTs could be used for various purposes. In particular, he highlights certificates as one promising area.
The general consensus is that NFTs can be used to create digital objects that have a unique identifier, and that such digital objects extend far beyond mere artworks and virtual collectibles.
“For example domain names — which map an IP address to a name — such as cryptonews.com already exist on a digital ledger maintained by Verisign in conjunction with ICAAN's domain name service (DNS) root server which catalogs all IP addresses,” said Mason Nystrom. “Creating NFTs out of domain names improves their tradeability, transparency, and provides the added ability to send money directly to a blockchain-based domain.”
read more (Cryptonews)
“There are various potential applications for NFTs beyond collectibles including domain names (e.g. Ethereum Name Service), financial products like carbon credits (e.g. Nori), event tickets, gaming, certificates of authenticity (e.g. Treum), and more. Any digitally native asset that has a large set of unique information can be issued as an NFT,” he told Cryptonews.com.
Dragan Boscovic, a research professor in computer science at Arizona State University, also agrees that NFTs could be used for various purposes. In particular, he highlights certificates as one promising area.
The general consensus is that NFTs can be used to create digital objects that have a unique identifier, and that such digital objects extend far beyond mere artworks and virtual collectibles.
“For example domain names — which map an IP address to a name — such as cryptonews.com already exist on a digital ledger maintained by Verisign in conjunction with ICAAN's domain name service (DNS) root server which catalogs all IP addresses,” said Mason Nystrom. “Creating NFTs out of domain names improves their tradeability, transparency, and provides the added ability to send money directly to a blockchain-based domain.”
read more (Cryptonews)
