In another example of NFTs with utility, a university in South Korea will offer their academic certificates as NFTs.
Sungkyunkwan University announced on Monday that it will present the NFTs during its graduation ceremony later this week, making it the first institution in the country, and possibly the world, to do this.
With the nature of the blockchain, the certificates will be impossible to duplicate or fake, making it one of the most sensible use of Non-Fungible Tokens yet. Anyone seeking the academic qualifications of a particular individual can be certain that what the are looking at is a genuine certificate.
As with most new technologies, NFTs have faced opposition from people who think that they are just a waste of time and money, and the technology will never take off.
One common argument is that there is no practical use for a expensive digital picture of a cartoon ape.
News that present a practical utility like this therefore go a long way in converting skeptics.