Non-fungible blockchain tokens that cannot be secretly falsified, split or replaced can influence the future of the intellectual property market. That's because in recent months such tokens have become actively used as digital certificates confirming the right to own an asset.
For example, the American DJ 3LAU was the first to tokenize a music album and sell it as a limited edition. Now the famous rock band Kings of Leon is planning to release a new studio record in the form of NFT. Even traditionally offline art is being digitized — for example, the famous artist Banksy's painting "Morons (White)" was converted into a digital artifact and then burned live-streamed. In total, almost 5.5 million tokens have been sold since NFT's inception, since 2017.
Tokens of this type could fundamentally change the field of copyright control and transfer because transactions with NFT are cheaper, easier and faster than with real objects. Some experts believe that by the end of this year, the market capitalization of this technology could increase by 3-4 times compared to last year.
Now the #MetaHash ecosystem is testing classical tokens internally — they are used for making transactions, ensuring consensus, paying for all network services and fees, as well as for controlling self-financing. These tokens will be compatible with Bitcoin and Ethereum tokens.
Considering that there are only a few NFT creation and sale platforms on the market and that this field is very perspective, #MetaHash intends to offer this functionality to its users as well. We already work on it and plan to release a new functional in the fourth quarter of 2021.
Some words about this coming feature: basing on #MetaHash, it will be convenient to issue and control NFT through a special application for which we will use the mechanism of smart tokens. Consistently, we plan to implement unique functionality to make the NFT mechanism even more interesting and convenient.
Here is a sample interface of this app:
In the near future, NFT will be useful not only on the art market. These tokens can act as project shares, certificates of asset ownership, loyalty bonuses, as well as be used in voting, social networks, and in the gaming industry.
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