Major problems in the NFT industry and how REV3AL can solve them.
We need to first grasp what an NFT is before we can talk about the NFT sector and address existing concerns.
An NFT is a digital asset that symbolizes internet valuables such as art, music and games and is backed by an authentic certificate issued by the blockchain that underpins Cryptocurrency. It can’t be forged or otherwise tampered with.
It all appears to be simple and enjoyable, and as we all know, it can be quite profitable, but this is not entirely true.
So, what’s the problem?
While the blockchain verifies ownership, it does not verify the digital asset’s creation or a person’s authority to mint and sell it. Counterfeiters are aware of this, and it is likely one of the most pressing issues in the NFT market today.
With both creators and buyers forced to depend on traditional contractual methods to verify a digital asset, counterfeit files are more often being monetized illegally.
Because both authors and buyers must rely on old contractual techniques to verify a digital asset, counterfeit files are being monetized illegally more often.
How can the REV3AL initiative help to safeguard the NFT industry?
REV3AL Technology will offer a platform and solution that will allow creators, IP owners and collectors to secure their work.
This technology will be accessible and given via an API, or application programming interface, which will allow other platforms to verify the legitimacy of that digital production.
Without the solution to these fundamental problems, the NFT market would like to stagnate.
REV3AL was inspired by this market requirement to develop innovative technology that has the ability to preserve and defend the authenticity of digital assets in the ever-changing high-tech in-touch economy.
REV3AL Technology will also be applying blockchain technology with a scalable, spendable global utility that features the authentication and verification process with its native token — REV3L.
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