NFTs act as unique instances of objects that can be “digital shadows” of real physical objects, or their own thing, wrt the blockchain they exist on.
For the art world, they are a new medium and can be used to secure provenance. In the rest of the world they are being looked at as mediums for selling tickets or keys to access unique experiences (an art piece/door/puzzle that activates or lights up if presented with a valid NFT as a simple example) among many theoretical use cases.
A lot of crypto stuff doesn’t make sense unless we get Decentralized Identities (DIDs) right, so things like NFTs can be associated with with a user.
For the art world, they are a new medium and can be used to secure provenance. In the rest of the world they are being looked at as mediums for selling tickets or keys to access unique experiences (an art piece/door/puzzle that activates or lights up if presented with a valid NFT as a simple example) among many theoretical use cases.
A lot of crypto stuff doesn’t make sense unless we get Decentralized Identities (DIDs) right, so things like NFTs can be associated with with a user.
https://www.artworkarchive.com/blog/what-every-art-collector...
https://www.w3.org/TR/did-core/