![]() It is this technology that has been utilised in the sale of other digital assets. Records and smart contracts kept on the Ethereum blockchain allowed users to prove ownership, breed, trade or sell their virtual cats with each other without the need for third-party mediation or supervision. One of the early uses of blockchain technology for recreation was an online game called CryptoKitties, in which users trade virtual pet cats.Įach cat is a digital asset, or Non-Fungible Token, making them a unique, one-off item that is not replaceable with another of its kind. Enter blockchain-based Non-Fungible Tokens (NFTs) that prove authenticity and ownership, with the option to attach smart contracts to those digital assets permanently.įunnily enough, this technology translates perfectly to event ticketing, so at Seatlab, we’re creating an NFT ticketing platform to eliminate fraud, reduce the impact of scalping and forge a closer connection between fans and the artists they love. There’s no collectable value to something anybody can download and display if there is no proof of originality. ![]() The problem? How to verify which picture or gif is the actual original. These curiosities are connected by an emerging technology that has the potential to revolutionise the way humans do business with one another.ĭigital assets have previously not been seen as collectable items why would anybody pay for something they could download for free with a quick Google search? A $3 million tweet, a $600,000 cat gif and an eye-wateringly expensive collection of NBA moments that people have spent around $230 million trading so far.
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