Blockchain has been receiving considerable attention from a score of industries and audiences due to its promises of immutable, decentralized, and verifiable data management. Despite these characteristics offering a substantial draw for both academia and other industries, it is the social benefits of a trustless system enabling seamless peer-to-peer interaction within a decentralized network, that academic institutions have latched onto. Is there a need for blockchain adoption within universities?
Most importantly, as with any new emerging technology-enabled business model, companies should pilot NFTs with cryptocurrency and blockchain. Start with creating a digital wallet and fill it with some Ether, the cryptocurrency that many NFT marketplaces use (because they use the Ethereum blockchain). There are a number of sites that sell cryptocurrency, including Ether. Some of the more popular sites are Coinbase and now PayPal. Once a company has purchased some Ether they can proceed to OpenSea (or other NFT marketplaces, like Rarible or SuperRare), which is where lots of digital things are for sale. Companies can buy some things on OpenSea (with their Ether) – and then sell them – all in the spirit of learning how it all works. They can then browse their own portfolios for something to sell, or consider creating something they can sell.