The First 500Days, Bored Ape, CryptoPunk, Does any of these means anything to you?
If the answer is no, you have not yet come across the mind-boggling world of NFTs. Being fueled by blockchain technology and traded with Ethereum cryptocurrency, Non-Fungible Tokens or NFTs are storming into industries. From fashion to real estate, gaming to marketing, all sectors are falling under the feet of NFTs. Every company in the digital realm is now looking for a reputable NFT development company to stay ahead of the game. Consequently, NFT market growth seems enthralling.
The Non-Fungible Tokens market globally will ascend to $20 billion by 2028. (Globe News Wire). Why would the education sector leave behind when nearly all industries are dabbing their feet on NFT ground?
Technology in education is nothing new. Advanced technologies have been shaping the education system globally for years.
In fact, the EdTech market globally will hike to $429.5 billion by 2030. (Grand View Research)
The galloping speed of the expansion of technology in education is leaving everyone jaw-dropped. And now, there is NFT technology heading straight into the world of books. It is not just the new renaissance in art and music but the education sector also. Here, we will see how NFT development revises the global teaching and learning system.
NFT Technology in Education in Brief
Before diving into how NFT development directly impacts the education sector, let’s first learn about the elephant in the room. So, what on earth is NFT technology in education?
An NFT is a unique, immutable, and encrypted token powered by blockchain technology. It certifies digital assets’ uniqueness. Therefore, the NFTs become interchangeable. So, technological companies do not own or distribute NFTs, but digital content creators create NFTs. The technical part of NFTs is the root of its name.
Related post: Ultimate Guide to NFT Digital Marketing in 2022
Now, why would someone go for NFTs?
Most online things are copies of something or tend to lose their originality very soon. Hence the artistic integrity remains hidden under the cloud. However, for the first time, artists can secure their ownership of digital assets via NFTs. Moreover, blockchain-enabled smart contracts initiate the digital asset exchange.
So, undoubtedly, Non-Fungible Tokens are turning digital assets more valuable, reinforcing the rarity and authentication of digital assets. Each copy of a digital asset remains distinctively unique. After gaming, real estate, and fashion, one industry that can benefit remarkably from NFT development is the education sector. NFT technology in education can significantly impact and enhance the overall teaching and learning process.
Moreover, when learning in the metaverse is becoming a source of curiosity and enthusiasm worldwide, educational institutes can not avoid NFT development. After all, NFTs will become the key to unlocking and owning the digital asset in the metaverse. Whether it is a fashion or education metaverse, NFT will remain one of the critical components of opening the efficiency of the metaverse.
What are so Special about NFT Technology in Education?
The specialty of technology always lies within its implementational efficiency and potential impact on industries. For example, blockchain was all into cryptocurrency once. But, when sectors like finance, health, etc., became aware of blockchain’s efficiency, they partnered with the reputed blockchain development company to flourish. The same thing happens for NFT in education. Following are some of the potential NFT use cases that will make all the education institutes cry for the technology:
Sharing Students’ Artworks
This one is evident. NFT technology in education will impact students’ artwork publicity the most. Schools and colleges will possess the ability to trade their students’ artworks to the world. In this way, new talents will show up on stage. People around the world will become able to support contemporary artists and digital content creators.
If we see things from a different angle, then it goes like this. Young students can also develop their entrepreneurial skills along with growing their artistic ability.
Storing and Sharing Students’ Records
Blockchain is the central pillar of the NFT development foundation. Hence, Non-fungible Tokens hold the characteristics and powers of blockchain. Blockchain will help schools and colleges to store their students’ educational records on chains in the form of NFTs. Educational institutes can easily share the NFTs with different schools or anyone at any time. Consequently, storing and accessing students’ data will become effortless and organized.
Storing and Presenting Official Certifications
For educational institutes, storing and sharing the certificates of students has always been a hassle. However, it is an essential part of offering education. If examining bodies, schools, and colleges store copies of certificates on the chain, the source will always remain original.
Moreover, students can receive certificates in the form of NFTs. Students will show the NFTs to recruiters to prove the authentication of their course certifications. Or, professionals can show off their certificate NFTs on their Linkedin profiles. Recruiters can verify the authentication and originality of the certificate owner and provider.
To conclude, the rise and expansion of NFT technology in education enable students to swell up their artistic credibility and entrepreneurial skill altogether. When educational institutions partner with an NFT development company, their minds get freed from the hassle of storing students’ records. So, one thing is clear.
When schools and colleges incorporate NFTs into the academic and data management sphere, it boosts the efficiency of students and institutions. When students become able to highlight their values, the goodwill of institutions will also rise and shine.