Brian Chard Design offers an innovative and insightful approach to modern digital media. Blockchain technology is quickly changing how digital rights are managed and improves the exchange and archiving of digital assets and ownership. Brian Chard Design provides NFT creation services, consulting regarding the Blockchain and the NFT marketplace, as well as content creation. The unique identity and ownership of an NFT is verifiable via the blockchain ledger. NFTs have metadata that is processed through a cryptographic hash function.
NFT’S are built using smart contracts, and the most popular blockchain for creating NFTs is Ethereum. Here are some of the various blockchain and NFT use-cases in the marketplace.
The blockchain offers ownership of art pieces. It records copyright ownership for each artwork done by digital artists. The individual artwork is considered as an NFT asset and tokenized with unique ownership name, date, and value of the asset through the lifecycle of the asset. The artist can earn more for their artwork by eliminating intermediaries and initiating peer-to-peer payments.
The gaming industries have created virtual economies for players to buy NFTs within the game’s ecosystem. The collectibles, currencies, and marketplace are in-game assets that levitate the player’s level for further progress in the game. The gaming accounts are an excellent item for those who don’t spend time or effort to unlock the bonus gaming features, and because of this, there is no expansion in the market for such accounts.
The music industry can tokenize albums, releases, and merchandise as an NFT asset with private keys for ownership rights. Bands and artists can earn more with a tokenized NFT exchange in the digital marketplace. It creates a virtual platform for the music industry where the albums do not get pirated or distributed on the blockchain.
Real estate properties can be tokenized in a blockchain platform. Each property is fractionalized into multiple assets for the investors to purchase on the exchange in the marketplace. The real estate tokenization in the NFT platform allows instant transactions to buy and sell assets, eliminates intermediaries, and prevents conflicts, hackers, and vulnerable activities.
The sports industry can use blockchain technology to prevent counterfeit trading cards, tickets and collectibles for tokens issued. Every game ticket looks similar, but they will have a unique identity of ownership. Some athletes have become tokenized assets in recent times in blockchain platforms for raising their value in the market. The conversion of merchandise and digital rights into NFTs enables the token-holders to register and verify the asset as their official merchandise for royalties and copyright.
Appreciation and engagement of the art
Once bought, digital objects can be installed and showcased in a variety of digital worlds, from Cryptovoxels to Decentraland. These virtual worlds can be built for use in Minecraft or Roblox for example. However, they are also carved up into scarce real estate, and such real estate can be exchanged and purchased which implies economic activity around cultural objects.
Blockchain is open and decentralized which means anyone in the network can view the ownership, and it can reduce the intermediaries involved for transactions. For instance, when an art piece is tokenized, it gives a specific value that is unique and irreplaceable. It can help protect the rights of the author and prevent the theft of art pieces, digital assests, and creative content. It also allows for quick ownership transfers that may otherwise take months using traditional rights management services. Brands can buy nft’s using their crypto assets and access creative content ownership in the new digital asset world.
NFT tokens have three important characteristics similar to a book autographed by a celebrity:
Contact Brian Chard Design to learn more about NFT and Blockchain development services in Canada.