Smart Collectibles: Unlocking The Value of Non-Fungible Tokens (NFTs)
preprintposted on 2021-06-17, 07:43 authored by Andrew FaiAndrew Fai
NFT-based art is at the forefront of a new wave of digital ownership that enables creators to retain control of their work and create and sell ownership rights for their digital media. But digital art is just the tip of the iceberg: this same technology can unlock access to any unique physical or digital resource, including products, services, and event access. We call these NFTs - used to access and determine ownership of resources off the blockchain - ‘Smart Collectibles.’ Smart Collectibles have applications that range from digital gaming and media to finance and property. They are also a key enabler of Web 3.0 and the Metaverse, an always-on shared digital universe where people can work, play, and hang out. By creating this document, we aim to inspire and encourage creators, communities, and businesses to continue to innovate in this space. With Smart Collectibles, businesses and artists can enable access to value in a way that is traceable and highly secure and even stack access to multiple forms of value onto the primary non-fungible tokens themselves.
Email Address of Submitting Authorafai@destation.org
ORCID of Submitting Authorhttps://orcid.org/0000-0002-3023-7215
Submitting Author's InstitutionDeStation
Submitting Author's CountryTaiwan
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