In the fast-paced world of digital art, a new technology has emerged that promises to revolutionize the way we think about ownership and authenticity. It's called non-fungible tokens, or NFTs, and it's a concept that has been quietly brewing in the world of cryptocurrency since early 2018. The origins of NFTs can be traced back to the creation of ERC-721, a standard interface for defining digital goods on Ethereum. While this might sound like technical jargon to non-experts, ERC-721 provides a universal method for creating smart contracts that can track the ownership of digital goods. In other words, it offers a way to create unique digital assets that can be authenticated and traded like physical objects.

This breakthrough has opened up a whole new world of possibilities for creators and collectors alike. With NFTs, creators can mint unique digital artworks that are truly one-of-a-kind and can be sold on decentralized platforms. Collectors can finally have a way to authenticate and verify the provenance of their digital art collections, just as they would with physical art objects.

The potential to revolutionize a variety of industries, from travel to real estate.

While the concept of NFTs is still relatively new, it has already generated a lot of excitement and interest in the art world. As we move further into the digital age, NFTs may prove to be one of the most important innovations in the world of art and beyond. Only time will tell what the future holds for this groundbreaking technology, but one thing is for certain - the possibilities are endless.

Below are some of the use cases we noted down in early 2018:

For creators, artists & galleries πŸ–ŒπŸŽ¨

Build new experiences and revenue streams with authenticated digital issuance

  • Branded digital gallery
  • Solo artist works
  • Exclusive content for fans
  • Certificates of authenticity & provenance

For brands & agencies πŸŽ₯ ⚑

Create engaging digital experiences for fans and followers

  • Digital rewards
  • Branded collectible giveaways
  • Premium content access
  • Community Contests

For nonprofits 🌍 🌱

Raise funds and awareness by creating meaningful digital campaigns

  • Tokenized β€œadoptions” for charitable causes, e.g. planting trees
  • Fundraising campaigns with collectible digital memorabilia
  • Exclusive badges and rewards for community members

For entrepreneurs πŸ’‘ πŸ’Έ

Launch a global marketplace for digital or tokenized physical goods

  • Stock photos
  • Digital IP

For merchants & producers🍷 ⌚️

Authenticate physical goods

  • Surfboards
  • Fashion
  • Wine bottles