Cardano Creator Charles Hoskinson Unveils Roadmap for NFTs, Says Hes Surprised at Massive Growth of Space

The creators of the Cardano (ADA) blockchain share their thoughts on the short history of non-fungible tokens (NFTs).

In a new Twitter space he hosted, Charles Hoskinson take a listener Through a list of potential use cases that NFTs can realize as the sector develops.

NFTs are useful for anything that has a collection or is connected to something beyond standardization. For example land deeds. Mining rights. Water rights. [gaming and decentralized finance] Space, the concept of characters that progress throughout the game. Your activity within that game. All the special powers you’ve accumulated, all the rewards you’ve accumulated – all of this can and should be tokenized at some level.

It can also represent experience. Like a diploma, it can represent your achievements. credentials. Obviously, if you go to medical school and graduate, it’s unique to you. As a format, I think NFTs can help in each of these areas. So it’s actually a larger space than the fungible world. And you can securitize them. Anything that is an NFT can be turned into something related to revenue streams.

Hoskinson then explains his own interest in this space and how he and the Cardano ecosystem plan to get involved.

“What I like to do is get involved in high-level stuff related to the metaverse, GameFi, and collectibles, and see how they evolve. We worry about , and make sure that business people find different ways to make money.

Much of what is at the end of the rainbow will be complex intellectual property negotiations. license deal. Similarly, there has been some debate about how patent portfolios should be represented as NFTs. How rights to a portfolio can be sold and how it can be turned into interest-bearing future profits.

Patents can be securitized as a non-dilutive method of securing the capital of a business. For example, if you’re a pharmaceutical company, you’ll need to sell your stock. You can pre-sell part of your patent portfolio in hopes of generating money. There are a lot of small things like that that can be done. “

The creators of Cardano also see NFTs playing a big role in how brands and influencers connect with their audiences.

Tokenization of brands is becoming more and more transparent, especially in a world where we think influencers and people on TikTok will be the first wave to tokenize brands

But let’s be honest, the growth and scale of the NFT space amazes me. It went from nothing to being very substantial in a very short period of time.

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