Non-fungible tokens continue to captivate the general public around the world as Web3 technology grows rapidly.
Non-Fungible Tokens (NFTs) have been a part of the cryptocurrency space for the last two years. However, its value and usefulness in various sectors have fueled its proliferation in the general consciousness.
Cointelegraph Director of Video Production Jackson DuMont dives into the details of NFTs, highlighting the importance of underlying blockchain technology in proving ownership of scarce digital assets:
“NFTs provide unique, verifiable and immutable proof of ownership of digital assets. True digital ownership of assets through NFTs is a revolutionary idea that will transform the way we interact with the Internet.”
Another important aspect of NFT technology highlighted by DuMont is the transfer of ownership of digital assets to users as Web3 functionality begins to proliferate on the Internet.
NFTs come in many forms, from NBA highlights to multi-million dollar works of art from some of the world’s most talented creators. The technology is also being used as a means to solve ticketing dilemmas and other real-world use cases.
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