A phygital is the combination of a physical item such as a book or artwork, combined with an NFT
Suppose you have a rare trading card. You can create more value by having an associated NFT which proves ownership of the card. This increase security because the NFT cannot be tampered with.
What a phygital is doing is linking the physical item to the blockchain. This provides transparent and traceable transactions.
It is expected that some of the first industries to create phygital items are the automotive and housing sectors.
Artists are also linking their work to NFTs. This makes it easier for them to sell the artwork and also have royalties from future sales.
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party, and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects.
Readers should do their own research and consult a professional financial advisor before making any investment decisions.
Comments 1