NFTs

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🕔 2 min read ∙ 232 words

Non-Fungible Tokens or also known as NFTs are a big hype right now. It’s been around for quite some time now, but we’re just seeing more use cases and platforms emerging as part of this trend. We are now seeing more and more projects trying to “tokenise” a physical or digital asset.

I believe in this use case of [[Blockchain]], and I can argue that it’s probably one of the very few proper use cases of it. Anything to do with assets, provenance, and proof of exchange - that’s where NFTs really stand out. I’ve probably dealt with almost 20 NFT projects in the past years and some of them are much more serious than the others. You would know straight away if a project is just a means for scam or “ponzi-scheme” depending on their “tokenomics” model.

We’re just starting this wave and I can’t wait to see more use cases and products to come. I would encourage anyone who wants to venture to NFTs to just think of any asset: physical or digital, to just try to tokenise it. Imagine a future where all your belongings are NFTs: your TV subscription, your Solar panels as NFT creating solar energy translated into cryptocurrencies, your books, dresses, car, parts of a car, materials of the parts of a car - all NFTs! Just like how atoms create compounds, there are no limitations!


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Michael John Peña avatar

Michael is an experienced technologist based in Sydney, Australia, a Microsoft MVP since 2015 with over 12 years of working experience ranging from Mobile, Cloud, Web and DevOps. He currently owns Datachain Consulting, a company that focuses on democratizing AI and Blockchain technologies. He is also a technical advisor to some technology startups. His roles allow him to explore the cutting edge technologies of Artificial Intelligence, Blockchain, IoT, Edge Computing, and the Cloud.