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Euro Cup Enters the NFT Game: Just Chasing a Trend or the Next Big Thing?

On July 12, the Euro Cup ended with Italy’s triumph. Portugal’s Cristiano Ronaldo was announced as the top scorer of the tournament of the Euro 2020. It is worth noting that the achievements and honors of the winners of the “top scorer” cup at Euro 2020 will be uploaded to the Ant Chain, the blockchain-based technology solution of Ant Group (a sponsor of the championship) for permanent preservation. This is the first time in Euro Cup history that blockchain technology has been applied to awards. In addition, the Scoring moments of the top three scorers have been recorded as non-fungible tokens, or NFTs, collected by UEFA. Finally, UEFA has authorized Alipay to issue a total of 1,600 NTFs in honor of the top scorers that will be gifted to users of Alipay, Ant Group’s mobile payment app.

The rise of the Internet has diversified the entertainment industry, and the attraction of traditional sports events to young people is on the decline. Therefore, UEFA has begun to explore new paths, and digitalization is undoubtedly a good way.

In fact, it’s not the sports industry’s first foray into blockchain. Last year, the NBA entered the field of NFTs with remarkable results. NBA Top Shot, the NFT card authorized by NBA, attracted immense attention as soon as it was put on sale, and has seen explosive growth in 2021.

The concept of NFTs is still unclear to many people.. In short, an NFT is a kind of digital proof on the blockchain. It is a unique, indivisible digital asset that contains the entire record of its own transaction and ownership history. NFTs based on blockchain technology are open, transparent, and traceable, which effectively protects and proves the ownership of digital works or corresponding objects in real life. Because of this, NFT can be widely applied to many fields that involve proving ownership.

As mentioned above, NFTs can solve the problem of right confirmation among digital works, so it has great collection value. However, due to memory constraints and other problems, the real part of the NFT on the blockchain is the URL representing the NFT data content; the data is often still stored locally or in the cloud storage. If these storage addresses are attacked by hackers, the NFT content is likely to be lost, and the NFT will lose its value. How to store NFT contents safely is an urgent problem. Therefore, GDF proposes the GDFS(GoodData Distributed File System)protocol, which can store data content permanently. GDFS combines IPFS and cloud storage technology based on blockchain, and develops new technology to upgrade to IPFS like protocol based on region awareness, which makes the storing and accessing of the dataset NFT faster and more efficient.

Through the in-depth study of blockchain technology and privacy computation algorithms, GDF introduces data set NFT and GDFS in combination with data sharing and data secure storage, which solves the problems of data privacy protection and data siloing, and helps to promote the new digital economy of data secure sharing.

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