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Fernando Pinto Presents

Public·47 Marty Casey
Gabriel Mammoth
Gabriel Mammoth

Nonfungible Tokens And The Future Of Commerce


A work called Nyan Cat by Chris Torres sold for $590,000 recently. It's part of growing interest in digital assets, known as nonfungible tokens, or NFTs, that are generating millions of dollars in sales every day. Chris Torres hide caption




Nonfungible Tokens and the Future of Commerce



"We felt that CryptoPunks would be a great addition to our collection of artifacts that can chart and celebrate the past, present and future of commerce," Cuy Sheffield, Visa's crypto head, told The Block.


Visa envisions a future where small businesses can harness a public blockchain to find new ways to sell and create their goods and services. However, the company also understands that this new commerce system can be tricky to get started in and navigate. Because of this, they have published a whitepaper on NFTs to help businesses understand how they can become integrated into their work.


However, this is a new territory in the accounting literature. Hence, there is a need for research which focuses on financial reporting, accounting, and accounting professionals in the Metaverse. With the explosion of technological development in the digital era, the Metaverse is rapidly emerging, and issues such as virtual environments, non-fungible tokens (NFTs) (digital assets), digital twins, Metaverse commerce, cybersecurity are becoming realities in the field of accounting (Al-Sartawi, 2020).


I was searching on Clubhouse again this week for the social zeitgeist about games. On the social audio app, I listened to a session panel on the future of art with rapper and investor M.C. Hammer as a speaker in the room. Gabe Leydon, the former CEO of Machine Zone, was also present. More than 1,000 people were listening. And they were talking about non-fungible tokens, or NFTs, which use blockchain technology to uniquely identify digital objects, so that you can verify authenticity and rarity. 041b061a72


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