BearNetworkChain NFT

What is NFT?

Non-Fungible Token (NFT) is a type of crowdfunding support for projects and a type of data unit on a blockchain digital ledger. Each token can represent a unique digital asset and serves as an electronic certification or certificate of ownership for virtual commodity. Due to its non-interchangeable nature, non-fungible tokens can represent digital assets such as paintings, artworks, sound, videos, projects in games, or other forms of creative works. Although the works themselves can be infinitely replicated, the tokens that represent them can be fully traced on their underlying blockchain, providing proof of ownership for buyers.

Major Types

NFTs are digital tokens that link to digital asset files. Owning an NFT mainly means having a certificate to use a digital asset, although buyers are typically not granted copyright. Sometimes the buyer may be granted a certificate allowing for personal, non-commercial use, and some certificates also allow for the use of the digital asset's original version for commercial purposes, although these are exceptions.

Digital Art

Tina Rivers Ryan, a curator and art historian in the United States who specializes in digital art, said that art museums generally do not believe that NFTs can create "sustained cultural connections" and compared NFTs to the pre-dotcom internet art boom. Although auction houses such as Sotheby's and Christie's, as well as museums and galleries around the world, have started collaborating with digital artists such as Refik Anadol, Dangiuz, and Sarah Zucker to sell NFTs on platforms and display them through virtual galleries, screens in daily life, displays, and televisions, there is still no unified identity verification mechanism to prevent the sale of counterfeit goods or the sale of digital counterfeits.

Digital Certificates

In Taiwan, a large amount of student data was lost due to the negligence of an outsourcing company in the past, which was related to academic qualifications. With the development of blockchain technology, various industries have taken this as a lesson and have invested in the application of digital certificates.