![]() (Read also: Art Museums and Blockchain: What's the Connection?) Art produced today will often get that kind of identifiers. The blockchain solution has been adopted by that world to guarantee authenticity and track provenance. The possibility of copies dilutes that value. Part of the great value of art is derived from its irreplaceable status. This system solves a problem that has plagued the art world, including both collectors and museums: counterfeit works of art. They can feel like they have the equivalent of the Mona Lisa even though her image has been reproduced thousands of times. Even if the work is copied and sold to others, the owner has the bragging rights of possessing the original with indisputable digital proof. The one who buys the NFT has something that contains its own proof of authenticity. Because it’s programmed into the token, it’s impossible to cut the artist out of their rightful share for a setup in which the artist maintains the copyright. If that is applied to work of art rendered into an NFT then, it’s possible to build in a royalty payment for sales made off the token. The programmable capability is what enables the “ smart contract” feature of blockchains. One of the most useful qualities of NFTs to date is that royalties can be programmed (or built-in) to the tokens. This means it can be programmed to have various qualities. Programmable – An NFT is just a piece of code on a blockchain. This information can include a message, image, music, signature, or any other piece of data. ![]() Permanence – NFTs have permanent information and data that is stored within the token. For example, Sorare – a sports trading card game – has third-party games (not built by the Sorare team) that use Sorare trading cards. Permissionless – NFTs can be used in multiple ways if they exist on a permissionless blockchain like Ethereum (not all NFTs are on Ethereum).
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