{"id":220907,"date":"2021-04-07T12:33:00","date_gmt":"2021-04-07T09:33:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/are-we-just-scratching-the-surface-when-it-comes-to-what-nfts-are-capable-of\/"},"modified":"2021-04-07T12:33:00","modified_gmt":"2021-04-07T09:33:00","slug":"are-we-just-scratching-the-surface-when-it-comes-to-what-nfts-are-capable-of","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/are-we-just-scratching-the-surface-when-it-comes-to-what-nfts-are-capable-of\/","title":{"rendered":"# Are we just scratching the surface when it comes to what NFTs are capable of?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b9593b3fab\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b9593b3fab\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/are-we-just-scratching-the-surface-when-it-comes-to-what-nfts-are-capable-of\/#Taking_back_control\" >Taking back control<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/are-we-just-scratching-the-surface-when-it-comes-to-what-nfts-are-capable-of\/#Simplifying_the_process\" >Simplifying the process<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Are we just scratching the surface when it comes to what NFTs are capable of? <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>\n<p dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nft.uquid.com\/\"><img loading=\"lazy\" decoding=\"async\" width=\"1480\" height=\"200\" alt=\"Uquid\" src=\"https:\/\/s3.cointelegraph.com\/storage\/uploads\/view\/bddf782758cebb01bdcc61c0700c2a14.png\" title=\"Uquid\"><\/a>Since bursting into mainstream consciousness in 2021 \u2014 and even being the\u00a0subject of a parody on Saturday Night Live \u2014 nonfungible tokens have become best known for serving as a vehicle for digital art.<\/p>\n<p dir=\"ltr\">Although this <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication is revolutionary in itself, many crypto enthusiasts believe the industry is only scratching the surface when it comes to developing compelling use cases for NFTs.<\/p>\n<p dir=\"ltr\">One of the biggest challenges when buying and selling goods in an online era concerns authenticity \u2014 and in recent years, several luxury brands have been exploring whether blockchain <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> could help clamp down on counterfeiting. As the journalist Tim Phillips wrote in his book Knockoff: The Deadly Trade in Counterfeit Goods, copycat versions of practically anything can be manufactured\u2026 including prescription drugs and car parts.<\/p>\n<p dir=\"ltr\">This isn\u2019t a problem that\u2019s restricted to physical products, as digital items have their own host of issues to contend with. Given how easily information can be disseminated online, creators are facing an uphill struggle when it comes to protecting their copyright. Photographs that can be worth thousands of dollars to license can be copied, pasted and redistributed by anyone in a few clicks \u2014 depriving the creator of revenue \u2014 with little consequence.<\/p>\n<p dir=\"ltr\">And even though the advent of streaming services has helped tackle some lingering concerns about piracy, it isn\u2019t an issue that\u2019s gone away entirely. Estimates from the Global Innovation Policy Center suggest that, in 2019, illegal views of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">movies<\/a> and TV shows resulted in the loss of\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theglobalipcenter.com\/wp-content\/uploads\/2019\/06\/Digital-Video-Piracy.pdf\">$29.2 billion<\/a> in revenue, and that was just in the U.S.<\/p>\n<p dir=\"ltr\">Software piracy also remains a lingering issue, with free versions of flagship software from the likes of Microsoft and Adobe doing the rounds in the darkest corners of the internet. 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.<\/p>\n<p dir=\"ltr\">Meanwhile, influencers and artists can face another big problem: Their work being ripped off by <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> users who then pass it off as their own.<\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Taking_back_control\"><\/span>Taking back control<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">Piracy and counterfeiting may very well be issues that take generations to solve. But as our world becomes increasingly digital, NFTs can serve as a valuable weapon in the quest for authenticity. Many law-abiding consumers end up coming into contact with fake items and bootlegged content without even knowing it \u2014 and that\u2019s because many online shopping systems fail to provide customers with clear proof of ownership. This can have a knock-on effect should that person want to sell an item to someone else in the future.<\/p>\n<p dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nft.uquid.com\/\">Uquid<\/a> has developed a new protocol known as NFTD \u2014 a smart supermarket system for digital products that\u2019s powered by nonfungible tokens. 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.<\/p>\n<p dir=\"ltr\">A vast array of items can be sold through this marketplace, including poetry, novels, movies, videos, photographs and sound recordings. Other digital products, including computer software, anti-virus protection, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>s, top-up subscriptions and gift cards are also available. An array of cryptocurrencies can be used to make a purchase, along with the DeFi payment methods that are already supported by the Uquid system.<\/p>\n<p dir=\"ltr\">Uquid\u2019s approach could also inject certainty into the process of buying gift cards online \u2014 an experience that can otherwise be fraught with risk.<\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Simplifying_the_process\"><\/span>Simplifying the process<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">One of the platform\u2019s top priorities is also ensuring that NFTs are easy to use for consumers. The world of cryptocurrencies and nonfungible tokens can sometimes be exceedingly difficult for newcomers to get their heads around, as evidenced by how Kings of Leon had to extend the sales window for their new tokenized album.<\/p>\n<p dir=\"ltr\">To make a purchase, a buyer simply needs to ensure that they have a Uquid account \u2014 and from here, the process will be exceedingly familiar for anyone who has used an online e-commerce platform before. No fees are attached to these initial purchases.<\/p>\n<p dir=\"ltr\">From here, users have the freedom to resell these digital assets whenever they like, and list them for sale at their desired price. Subsequent transactions will attract a sales fee.<\/p>\n<p dir=\"ltr\">The NFTD protocol is fueled by Uquid, a utility token on the Binance Smart Chain. Those working on the project say this blockchain delivers low transaction fees and high performance thanks to how the network is capable of producing a block every three seconds.<\/p>\n<p dir=\"ltr\">With a fully functional platform now live, the crypto-powered brand now has its sights set on bringing NFTs closer to everyday life.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/are-we-just-scratching-the-surface-when-it-comes-to-what-nfts-are-capable-of\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Are we just scratching the surface when it comes to what NFTs are capable of? &#8221; Since bursting into mainstream consciousness in 2021 \u2014 and even being the\u00a0subject of a parody on Saturday Night Live \u2014 nonfungible tokens have become best known for serving as a vehicle for digital art. Although this application is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":220908,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kNjRlZmU5MjA3MzYzODI5ZTA2Njg1ZjgxOGY3NDZiOC5qcGc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74894,74863,95118,74892,80498],"class_list":["post-220907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-blockchain","tag-cryptocurrencies","tag-nft","tag-tokens","tag-uquid"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/220907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=220907"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/220907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/220908"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=220907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=220907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=220907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}