Opinion: NFTs Could Be a Bridge Between Web 2.0 and Web 3.0

Non-fungible tokens (NFTs) could become a bridge between Web 2.0 and Web 3.0. This view was expressed at the ForkLog conference «Почему NFT стоят так дорого?» by the CEO and co-founder of CloudNFT, Peter Bell.

According to him, NFTs do not introduce anything fundamentally new to the copyright industry, but they could prove useful in Web 3.0 interactions.

Bell sees great potential in services that will acquaint the broad public and facilitate the creation of a digital ID and help “wrap” real-world contracts into NFTs:

“NFT can evolve into services for signing digital documents. In the copyright area it would be extremely convenient to embed a contract for transferable copyright rights into an NFT and transfer it to another person.”

The CloudNFT co‑founder noted that using non-fungible tokens in this way would allow signing contracts between “a person with a passport” and a person with a decentralized identifier.

He also suggested that NFT technologies could enable contracts to be concluded within the framework of virtual law, rather than within a specific state’s regulatory system.

As reported, former president and CEO of The Walt Disney Company Robert Iger expressed concerns about copyright infringement in the NFT sector.

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