'How this Web3 Project is Unlocking a Trillion-Dollar Data Economy with Data NFTs' datascience bigdata
Data is all around us. It is generated by people, companies and devices. The amount of data our world produces will go up forever, but it is not under our control yet. Data can be used to power innovations that shape our future, like artificial intelligence. For this reason, the World Economic Forum recognized that data is the world’s most valuable resource.
But there is a technology that could disrupt the way we control the access and monetization of data. It’s called ERC721, or more commonly referred to as NFTs.In 2021, the mass adoption of NFT Tokens was driven by speculation around digital art. The access rights to Cryptopunks or Bored Apes were sold for millions of dollars. The unique ownership license to the images were regulated by non-fungible tokens with royalties paid to the artist on every transaction.
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