Non-fungible tokens are a hot new trend in the Edtech sector. An influx of people is joining due to the properties that make them stand out. Artists have been beneficiaries so far, but now digital assets are diversifying into other industries as well!
One of the main reasons why NFTs are snowballing is because they’re one-of-a-kind. Artists don’t have to worry about their artwork becoming valueless through counterfeiters.
NFTs are the future of art. They promote originality and allow for royalty earnings when an exchange is done, making them traceable. Additionally, NFT’s cannot be destroyed since QR codes stay on their personal details.
How NFTs are Transforming Education
NFTs are all throughout the economy, and they’re spreading like wildfire. This is because of their ability to work in various sectors. People are using NFTs for commerce or supply chains due to great qualities that make them perfect across many different areas!
According to professor Beau Brannan, NFTs can revolutionize how students keep track of their achievements. Including those that are stored on a global scale. By using cryptocurrency’s underlying technology and storing information about everything in one place. Decentralization ensures ease of access for all users across any device or platform they may use at their discretion.
He awarded students NFTs that he refers to as ‘academic tokens.’ These were not for monetary exchange but rather a way of proving completion and actuating an experience with the teacher. A sort of grade in itself! He also asked them to rate how well their courses went; it worked wonders.
Application of NFTs in EdTech
Many benefits come with using NFTs in Edtech. They can replace diplomas and resumes because they provide a more secure way of proving one’s prowess. Thus, reducing the chances for fraudsters who counterfeit documents or fake qualifications.
Micro-credentials are an easy way to show off your achievements. They involve the owner, where they received their awards, and what it entails. Micro-credentials give everyone a chance at being remembered in history because not only do they have their own story, but now there will be proof too!
When students in projects like art class create masterpieces, they can possess patent rights and keep ownership of his piece as an NFT. Or sell it to make a profit. People often overlook Student creators when their work becomes third-party material used by teachers without credit given back at all!
There are several benefits of using NFTs in education, which should motivate more educational institutions to do so.
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