Why NFTs Aren’t Just for Art and Collectibles
Non-fungible tokens, or NFTs, have been considered a form of cryptocurrency with limited applications. That outlook is changing. Beyond current uses in high-end purchases of art and collectibles and the gaming industry, NFTs are being used in more types of transactions. Fulton Schools Professor Dragan Boscovic, a cryptocurrency expert and director of the Blockchain Research Lab, says NFTs can be used to create digital objects that have unique identifiers. This improves the tradability and transparency in the use of NFTs, making transactions more secure, Boscovic says. He expects NFTs to remain a viable option for the foreseeable future, one that will help blockchain technology to realize its potential as a new method for doing business.
See Also: NFT trend shows burst, but could have staying power, Daily Independent, April 5