In 2021, NFTs have really taken off. They are generating a lot of money for artists, musicians, and collectors. But this new technology is in its infancy. Already it is making a ruckus in gaming, entrepreneurship, and education.
What is an NFT?
An NFT is nothing more than a digital certificate of ownership that resides in the blockchain, which is what houses cryptocurrencies like Bitcoin and Etherium. While the Bitcoin blockchain is too restrictive, other blockchains that came along later have more flexibility and have been adding contract features. This has led to the NFT boom we are seeing.
While currently, the common use is to buy an NFT, hold it, and then sell it, nearly anything can be programmed around them. That is why, in gaming, it has caught on so quickly. Items can be NFTs and bought and sold, but also used in the games. It is like having a password for each item your character carries. And you can sell that to another character for real money, and once transferred, only the other character owns it.
The Education NFT
Education is also being transformed by the NFT technology. Combining NFT collectibles with curriculum design, companies will be able to build higher-end curriculums that are more effective and reach a global audience. By combining these NFTs and cryptocurrency, education will get better, go global, and be free to everyone.
Schools, teachers, and professors will still have jobs but they will be doing more to help individuals, small groups, and running the learning projects that accompany the core curriculums.
Students will benefit from decoupling courses from schools. An NFT certificate, verified by a certified teacher or institution, will verify completion. And they can go to the best people anywhere for each course. Instead of achieving a degree, students will be able to demonstrate lifelong learning progress and multiple achievements.
Recognizing Lifelong Learning
Typically, when someone talks about lifelong learning they are talking about continuing to learn after someone has finished formal school. What is neglected is lifelong learning that starts from day one.
We all know, parents with more resources will give their newborn advantages from birth. More time from parents, and more money, help kids develop a sound foundation before they even start preschool. That is why it is so exciting that Oustanda, a company using NFTs to improve education, launched its first Education NFT to address this issue.
And while NFTs can be expensive, their program has something for everyone. Five levels range from $50,000 down to $50. Benefactor Education NFT, Champion Education NFT, Patron Education NFT, Backer Education NFT, and Friend Education NFT are the levels.
As we have already said, an NFT can be a lot more than a collectible. These NFTs have a variety of features, depending on the level. Some produce monthly recurring crypto payments. Some include royalties if the owner decides to sell it. And they all act as a key to unlock benefits that will be added down the road. Maybe they are not as cool as a flaming sword, but grown-ups understand that it is pretty cool when you improve people’s lives.