Random Blog on Crypto (Part 18) : The main role of NFT in Cryptocurrency

Non-fungible tokens (NFTs) is a very unique and innovative concept in the blockchain and cryptocurrency network. The ownership of digital asset is very problematic in this digital world. This token is creating a new dimension in the ownership of digital asset. Traditional digital currencies and cryptocurrencies are fungible and interchangeable that means you can split your currency into different units in case of executing your transaction between two parties but this token is non-fungible that means it cannot be split into several units like other digital currency or cryptocurrency. NFTs represent unique digital assets that have distinct attributes and cannot be exchanged on a one-to-one basis. The role of NFTs in the cryptocurrency market is huge. I am going to share a point of Digital Ownership and Authentication today in this post. Hopefully I will share couple of more points in next posts in this series.

The main purpose of developing NFC is the ensuring of digital ownership and authentication of digital art and creations. Many of the digital content creators like music artists, photographers, sketch artist, composers etc are losing their job in many of the countries where the copyright law is not maintaining stricky. So it is really important to ensure creators right and copyright ownership of their digital content.

It is not a easy thing to create some creative work like artists do. But when it will be stolen by others to get money, it is really horrible. NFTs enable individuals to assert ownership over digital content in an indisputable and transparent manner. Artists, creators, and content producers can tokenize their works, whether they are artworks, music, videos, or virtual real estate. These tokens serve as certificates of authenticity, verifying the originality and ownership of the digital assets in a tamper-proof manner. NFTs provide a solution to the long-standing challenge of proving ownership and uniqueness in the digital arena. This non fungible token will ensure the ownership of the digital asset and transfer of the digital asset. This will be a super easy with the help of NFT system.

So the video content creators, digital artist and many other digital content creators who are working with their intellectual skill for making any digital content can ensure their ownership and get their money of their work. When it will be converted into like mint into non-fungible token then it will be easily transferable so they will sell their asset and some others will be able to sell there ownership as well. The total process of transferring digital asset will be very much transparent and ownership will be maintained strictly and the same time the true owner of the creator of art will be the beneficiary of their hard work.

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