What Are Nfts And How To Best Protect Them
Technology has never ceased to develop. Every day, you will hear a discovery or a new invention. And most of the time, these developments are created to help people live a convenient life. But technology is not just designed to make people’s lives easier. Several advancements were initially made for leisure and enjoyment. And one example of this is NFT.
NFT or Non-Fungible Token is a one-of-a-kind way of asserting ownership over a specific digital asset. NFTs can be applied to nine major categories, namely art, music, video game items, trading cards and collectibles, sports highlights, memes and GIFs, domain names, virtual fashion, and online pop culture items like popular tweets and FB posts. But these days, NFT is more commonly used in art. Through NFT, investors can now purchase photos and digital renderings of paintings.
But if you think that is the end of the NFT application, you are wrong. NFTs can also be used for important documents. As a matter of fact, it is now being used to declare ownership of the COVID-19 vaccination passport in San Marino. This digital asset incorporates the use of two QR codes to verify ownership. This allows an immutable, secure, and seamless verification of vaccination status.
These advancements only showed how NFT transformed into a novel technology solely developed for entertainment purposes to make people’s lives easier.
NFT may seem promising, and that is because it is indeed promising. However, like any other technology, NFT also has vulnerabilities. Since this invention is considered a digital asset, it is prone to hacking activities. Cryptocurrency digital wallets are a gold mine for anyone who can get access. Fortunately, there is FIDO2.
FIDO2 is a project with the primary goal of creating a more robust authentication system for its users. FIDO2 has also contributed to making the required eKYC protocol safer for customers.
Achieving a secure, private authentication for the future – LoginID is not impossible as tech developers never stop upgrading their systems. With FIDO2 now leading a secured verification method, you might want to know more about this as much as you want to discover more about NFTs. If that is the case, you can consider reading this article by LoginID.