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Friday

23 April 2021

Are we just scratching the surface when it comes to what NFTs are capable of?

Are we just scratching the surface when it comes to what NFTs are capable of?


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This isn’t a problem that’s restricted to physical products, as digital items have their own host of issues to contend with.

Not only can this deprive businesses of the revenue they need to innovate, but there can also be a cost to users considering these files can often be addled with malware.

This can have a knock-on effect should that person want to sell an item to someone else in the future.

Every seller in this marketplace, as well as the items they have to offer, are identified through the use of unique token IDs, with buyers receiving verification of their ownership as soon as a transaction is completed.

To make a purchase, a buyer simply needs to ensure that they have a Uquid account — and from here, the process will be exceedingly familiar for anyone who has used an online e-commerce platform before.

From here, users have the freedom to resell these digital assets whenever they like, and list them for sale at their desired price.

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cointelegraph.com
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