Distributed Ownership Model for Non‐Fungible Tokens
Jaspreet Singh, Prashant Kumar Singh · 2021
Digital assets direct monetary value. Although, maintaining its integrity, ownership and transparency is a huge challenge. It includes fraud, tampering, duplication and more. So, blockchain provides integrity and allows trustless transactions without any central authority. Currently, Non-Fungible Tokens (NFTs) are used to create such digital assets providing the uniqueness in each asset, although its real-life valuation is not that simple to create a marketplace. This paper presents the concept of distributed ownership of any digital asset (NFT) amongst many people in the form of percentage shares. We name the token as distributed NFT (dNFT). It holds the properties of NFTs as well as it can be traded in the form of percentage shares as in real world. Each digital asset in this model is validated by the validators who act as a trust entity in the system. Hence, it is authentic, verifiable and acts as real market place for all types of digital assets.