Tokenization is the process of converting real-world physical assets, such as luxury watches, into digital assets on the blockchain, which establishes authenticity and ownership verification in the digital world, extending beyond NFTs which primarily focused on digital artwork.
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Counterfeits Are Dead With Tokenization #blockchain #Crypto #shortsAdded:
This is the big one. JP Morgan has been talking about this for a while. I told you this is the main purpose of blockchain coming into the future. All right? The whole purpose of blockchain is to tokenize physical items into a digital world and create authenticity. I'll give you an example.
Right? Um Think of it like this. Let's say you own a fancy watch, like you own a Rolex, AP, whatever, right?
When you buy that watch, you get a box, you get the authentic you get the certification papers in it, you know, the papers of authenticity, you get the date, the everything in there, right?
Now you can digitalize digitize that real world asset. So now the blockchain also states that yes, you are the true owner of that. You own that block. You own that authenticity. So like NFTs.
Okay? Remember NFTs was just the artwork that we got caught on by. We were just like, wow, the artwork looks pretty cool. The artwork looks pretty awesome.
Right? Which is great.
But real world scenario, we're talking about the digitize the real world as it asset tokenization.
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