Rise of Non-Fungible Tokens (NFTs). Comprehensive Review of Applications, Benefits, and Challenges

Academic Paper in the subject Computer Sciences - Cryptocurrency, , language: English, abstract: As we are moving forward to digital era and so is the world of collectibles. Just as everyone believed that the Bitcoins are the digital answer to currency, NFTs are believed to be the digital answer for collectibles. This paper will provide a simplified version of what actually is NFT (Non-Fungible Tokens), followed by theoretical and practical knowledge of applications of NFTs in Real world as well as Metaverse. Additionally, we offer generalizable details about the advantages and difficulties of NFTs, as well as the repercussions for both academics and practitioners.