Can NFTs Evolve EdTech in 2021?

The new non-fungible token craze has created a stir in the business world. Due to their provenance-related characteristics, NFTs have wholly dominated the digital market. Although artists have benefited, the use of digital materials has expanded to include the entire industry.

The primary factor causing NFTs' explosive growth is their singularity. The digital assets categorised as NFTs are unique and cannot be copied. Artists don't have to worry as much about their works being copied and losing their worth. NFTs may be tracked, which encourages creativity. The artist can follow their creations as ownership changes and collect royalties after an exchange is completed. NFTs are unbreakable. Personal information is on the code once it has been set up for an NFT in order to keep it original. Once art is created, it can endure forever because QR codes cannot be altered.

Transforming Ed-Technology

NFTs employ the same technology as cryptocurrencies, thus a decentralised ledger houses data on each piece. Beau Brannan, a professor, explains how students can organise all of their accomplishments into online "trophy cases" so they can quickly access them at any time. Beau experimented with a class he was observing to see how well his comparison held up. He gave out NFTs to the kids, which he refers to as "intellectual tokens." These tokens served as certification of course completion rather than as a medium of exchange for money. Additionally, he requested that the students provide him with an NFT on which they were to assess both his work and their learning experience. This request was successful.

Application in EdTech

Due to their functionality, NFTs have a number of benefits when employed in the educational sector. Paperwork can be replaced with NFTs since they are distinctive and renowned for their provenance and are typically used to demonstrate academic distinction. When NFTs take the place of diplomas and resumes, they are more secure and convenient for confirming a person's competence. NFTs will also lessen the likelihood of fraud and counterfeiting.

Micro-credentials regarding the learner are simple to access once academic accomplishments have been assembled. Micro-credentials provide information about who made the accomplishments, where they were obtained, what they entail, and when they were completed.

There are several benefits to be gained from using NFT in education that will drive more educational institutions to use the same in the future.