NFT as an anti-counterfeiting solution
A non-fungible token is a unique record on the blockchain that can be created for virtually any digital asset or even used to mark a physical asset. Despite all the possibilities this technology provides, its potential has not yet been fully realized. The first NFT hype has already ended, but mass adoption of the technology has only just begun. For example, VKontakte launched a collection of digital dog mascots called CryptoSpotty as part of its NFT implementation. In collaboration with digital artists, 8,000 tokens were created that can be resold, used as avatars, or displayed in a showcase. However, mass adoption of the technology is still far away and there are three reasons for this:
The first reason is that there is currently no mass marking of real assets using NFTs. This means that most NFTs we see today are digital objects such as images, videos, and music. However, the ability to mark real assets with NFTs could change the game and open up new opportunities for investment and trade.
The second reason is that the potential of GameFi, or game finance, is not yet fully understood. Games have always been popular, but thanks to blockchain and NFTs, the gaming industry can move to a new level. But it is still unclear how game mechanics and economics will work in this new era.
The third reason is the need to combat fakes in the age of neural networks. With the development of artificial intelligence technologies, it is becoming easier to create fake art and other digital objects. This can lead to serious problems for investors and traders, so new tools are needed to combat fakes. NFTs could be such a tool.
How do NFTs help protect intellectual property?
Protecting copyright with NFTs is possible because they can create digital records of ownership and origin of creative works. This helps establish authorship and prevent theft of intellectual property.
Immutability is one of the main features of NFTs, as they are stored on the blockchain, which is an immutable distributed ledger. This means that after creating an NFT, it is impossible to change the data, providing protection for property rights and authenticity of creative work from unauthorized access.
Traceability is another advantage of using blockchain technology in NFTs, as it allows creators to track the movement of assets.
With smart contracts, the NFT author can establish conditions for the use of their work, including rules for copying, distribution, and modification.
In conclusion
In the digital world, there are many problems with counterfeits and theft of intellectual property. However, thanks to NFT technology, authors can protect their works from fakes and theft, as well as control their use in the future. NFTs allow for the creation of unique digital objects that are tied to a specific author and cannot be copied or counterfeited without their consent. The NFT technology provides transparency and reliability in storing information about the author and their work, making disputes over usage rights impossible.
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