More than just owning a JPEG?

edeXa Blockchain Technology has the potential to make a significant impact in a number of critical areas, which we’ve identified for B2B.

but before explaining how , lets bring some important topics how edeXa brings this Infrastructure with a unique steps to make the process easy for everyone.

In the past, you may have heard that NFTs are pricey JPEG files. You may have seen viral videos suggesting that individuals are shelling out sums of money for JPEG. This appears to be a reasonable description of what NFTs are, and it has some truth to it.

Non-fungible tokens have sparked a flurry of interest (NFTs). It was estimated in 2021 that the NFT market had a total value of more than $40 billion.

NFT serves as proof of who owns a specific piece of digital property. There is no limit to the types of things that can be shared on social media.
The term “non-fungible” refers to the fact that it can’t be easily exchanged for a similar product at a comparable cost.

“No. More than just an image, NFTs represent a form of real estate ownership.” mbvissers.eth — Isn’t NFT just a fancy name for JPEGs?

A great deal of misinformation circulates about NFTs. Even many who advocate for NFTs are unaware of its complexities. As with many things in life, the truth is more complicated than it appears.

NFTs are more than just JPEGs

To help build Web3’s future of decentralization, ownership, finance, and more, non-fungible-tokens, or NFTs, are playing an increasingly important role in the mainstream acceptance of cryptocurrencies and here it is the target how edeXa Universe focus on.

NFTs are the building elements of a new way to communicate online and in the actual world that appeal to our intrinsic need for social status and craving for community.

We’ll take a look at how NFTs have and will continue to influence our environment, and what that implies for creating in the Web3 era to B2B.

USE CASES:

Legal system

Every day in the legal and law industries, sensitive and valuable information is exchanged. There are several challenges in this industry that can be solved if accurate records are kept of the legitimacy of data, where it came from and when it was captured.
The importance of inspections cannot be overstated when dealing with complicated systems or construction projects. An immutable record of an inspection can be created by using NFT technology in an inspection record.

Metaverse

There is no way around it: the Metaverse deserves particular recognition. Using terms like Augmented Reality (AR), Mixed Reality (MR), and Virtual Reality (VR), this relatively new concept represents a new way of thinking about the physical and digital worlds. Using NFTs in this space can be a means to represent ownership of something physical and display it digitally. In practice, this implies that you can buy the same high-end shoes in the actual world as in the virtual Metaverse.

NFT on edeXa Universe

edeXa Universe provides users with the possibility of deployment of native assets NFTs.

NFT applications bring non-fungible tokens. This means users can create unique identifiers or attributes for a token to make it distinguishable from others. The different construction of each NFT has the potential for a wide variety of use cases. In the future, NFTs will also play an important role in the business world.

NFTs can remove intermediaries, simplify transactions and create new markets and additionally, the NFT’s capabilities are closely tied to the blockchain. Digital business partnerships that are built on mutual trust must have this feature.

Standardization is the third point.
The description of an item must be standardized in order to incorporate it into business processes and allow it to be interchangeable with other partners ( Businesses with customizable smart contracts.

The combination of NFTs with Business vision is perhaps the most significant variation from normal digital objects. Smart Contracts engine from Universe underlie this entire process and brings this to easy steps for everyone. As a result, Companies may share the growth in value of their real assets in secondary markets.

If you want to know more, follow closely our social media channels during the next few weeks or contact us directly to contact@edexa.com