Non-fungible tokens (NFTs) are currently one of the most successful attempts to automate the market for intellectual property. This was stated at the ForkLog online conference “NFT Fever: Tokenization of Art” by Alexander Salnikov, co-founder of the marketplace Rarible.
He noted that NFT gives you the right to obtain an exclusive license in digital form.
According to Salnikov, digital art is most common in NFT form because it is public:
“Digital art has ‘crept’ onto the NFT market first, because privacy on blockchains is currently difficult. For example, you wouldn\’t want someone to see your medical record, and on a blockchain, more or less everything is public.”
He also noted that physical objects are still “difficult to link to blockchain objects”.
“This is something that will only come when the government institutions that manage registries of physical objects grow to understand that they need a blockchain,” said Salnikov.
During the conference he also spoke about a new initiative from Rarible Protocol — an infrastructure for creating NFT services:
“On it you can build your own NFT marketplace, a platform for issuing NFTs or, on top of the protocol, create a sales showroom.”
Rarible expects that Rarible Protocol will help launch marketplaces in the NFT space and contribute to market development.
For details on how to create your own non-fungible tokens, read ForkLog’s exclusive.
Read ForkLog’s bitcoin news on our Telegram — cryptocurrency news, rates and analytics.