as video games, digital identity, licensing, certificates, or fine art - and even allow fractional ownership of items. Storing ownership and identification data on the blockchain would increase data integrity and privacy, while easy, trustless transfers and management of these assets could reduce friction in trade and the global economy. The Significance of Digital Art on the Blockchain With pieces in the fine arts market selling for tens or even hundreds of thousands of dollars, it’s important that you validate what you’re buying is the real thing. Artist with digital works are utilizing the blockchain to maintain their art’s integrity. Companies like Super Rare, Know Origin, Nifty Gateway and others have streamlined the process of allowing artist to mint digital artwork onto the blockchain as an NFT. Now when that artwork is brought and sold the transactions are stored publicly on the blockchain so that a prospective buyer, can easily track the entire history of ownership back to the artist. If the token doesn’t originate from the artist’s wallet, the artwork is a fake.
NFT MARKET STATISTICS TOTAL TRANSACTION VOLUME
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