Swisscom AG is Switzerland’s leading provider of telecommunications services. The Swisscom has recently introduced a new product called Noow, which uses the non-fungible tokens (NFTs).
This new project shows the art that you have through NFTs and how many copies of the work of an artist were created using the tokens.
To expand on the project, a number of places across the country, such as offices, hotels, and restaurants, will be displaying digital art created on the program. As art is normally shown illegally in situations such as this, the company concentrates on building a situation using blockchain technology to ensure the artists ‘ ownership rights.
NFT is a type of Token which cannot be exchanged and distinguished. In some cases, this feature makes it distinguished and desirable. It is a virtual token you build, which can be verified by means of encryption to demonstrate authenticity and ownership. Non-Fungible Token is the best example of how to use a token to create a scarcity that creates value. This is tokenization of physical and virtual assets, such as actual artwork, memorabilia, and tokenized assets.
Buyers receive an authenticity certificate and can view the art on their display. They also know how many copies exist, and the rareness of their work can be grasped. This is, obviously, an ongoing work, but it’s fun as it stands to tell a non-crypt audience about crypto collectible.