NFTs — Are they limited only to digital arts or are meant to serve for a greater purpose? |Block Protect
One of the most hyped topic since past couple of weeks is Non Fungible Tokens or simply the NFTs. Why not? A tweet being sold for millions, digital arts, GIFs, etc. all being sold for millions or thousands of dollars. But the question is — are they meant only for the ‘digital arts’ or will go way further?
From certain months, all the blockchain technologies are highly being speculated in the global market. People are literally fed up of stocks & are waiting for another tech like Blockchain to invest in & get rich quickly. And here comes NFTs- Non Fungible Tokens.
Now, at the beginning, I admit that I didn’t believed in these NFTs and treated these as any common tech arising around the world. I saw people buying and selling different arts, GIFs, tweets, etc. but who cares, unless I researched on this topic by myself.
My research on NFTs went for almost 14 days. I had prior knowledge of blockchains & have worked on creating plenty of those too. However, in these 14 days, I went through most of the possible pros and cons of these NFTs.
In between these 14 days, one key moment was went I talked to my brother-in-law who is the ‘Director of Business Development — Middle East at EMQ Inc’. In the conversation, I realized his cold interest in blockchain as an integrated tech for their business but I didn’t talked about it since my research was not complete till that time.
Now, at the 9th day of my research, I found a link between NFTs, the fundamental blockchain technology, the dispute settlement sector & of course an incident where I went into a dispute for thousands of dollars due to a fraud. If you want to read more about this dispute, go here.
Now, with all this in my mind, I worked on creating a prototype of my whole concept & I found this platform really powerful. I shouldn’t call this a platform as I only worked on the backend part, but for now, I and my team are also building the web & mobile client for Block Protect.
The concept behind the whole idea is that any payment sent or being send, can be protected by a dispute. Using our own blockchain technology, we can protect the digital ownership of the asset and then transfer it to the party who loose the dispute.
The client can then sell the ownership into our partnered NFT market & recover back it’s money. And this single reason is enough for me to love NFTs, as they proved to me as a solution to a previous problem that I suffered, plus a powerful technology that is being created by our team.
The software is under it’s alpha testing and needs more people like you to join the test. So, if you are interested, join it from here, if not, you can still see our conversations at our discussion forum.
And if you want to do none, you can just visit our website @blockprotect.
