Hyperledger In-depth: Demystifying NFTs: Introduction, Applicability and Use Cases
Physical art, media or any other physical asset in the real world has a value attached to it which is tangible however a digital asset has no value even as of today. Further there is no way to verify an original digital version. This is where blockchain and NFTs come to the forefront. The next generation of digital collectibles powered by blockchain technology are enabling the digital asset owner to monetize their digital assets. Blockchain further helps with instant verification of authenticity, provable ownership, traceability, immutability, peer-to-peer trading, and the ability to create provably-unique collectibles, powered by Non-Fungible Tokens (NFTs).
As per NASDAQ, the Global NFT market is expected to grow by 1000-fold over the next 10-plus years, from $330 million in 2020 to $370 billion in 2030 (CAGR: 101.64%)!
This is evident from the surge in its demand that we have witnessed off late whether its Sports, Gaming, Automotive or other supply chain related industries. In Sports arena, we have seen NBA auctioning digital reels of the iconic moments of their matches (so far, they have earned $700 Mn+). In addition to the growing enterprise level adoption powered by exclusive NFT marketplaces, the list of individual celebrities coming out with their own NFTs is increasing by the day!
Another important aspect pertaining to NFTs is that they can’t be distributed however leading tech providers like Tech Mahindra have developed innovative approaches and architecture on Hyperledger Fabric through which we can fractionalize NFTs and that helps in fractional ownership of the digital asset.
In this session, Rajesh Dhuddu from Tech Mahindra will help us demystify the complex world of NFTs and share his thoughts on how NFTs will reshape the fortunes of enterprises and individuals in the foreseeable future!
Rajesh Dhuddu, Global Practice Leader – Blockchain & Cybersecurity, Tech Mahindra
Date & time:
25th November @10:30am CET/ 3pm IST/ 5:30pm HKT, SGT