Swisscom, a giant of telecommunications in Switzerland, has decided to announce a new product called Noow. This new project will have a whole new approach to the way in which non-fungible tokens (NFTs) are treated.
In case you do not know what NFTs are, just remember Crypto Kitties. Each token was unique and collectible, as it represented a virtual cat. There are several programs which use NFTs and they are generally diverse, but this is the main idea: collectibles.
The new project will display the art that you own via NFTs and how many copies of an artist’s work have been created using the tokens. Despite the project being headed by Swisscom, it was developed by a Zug-based company called Dloop, which participated in the accelerator of the telecom, a project called Kickbox.
Noow will work like this: the digital art created on the program will be displayed in several places in the country, such as offices, hotels and restaurants. As normally art is displayed in an illegal way in situations like this one, so the company is focused on creating a situation that will use the blockchain technology in order to fully guarantee the ownership rights of the artists.
The service will be on display on Swisscom TV, which is a service offered in the country. The work displayed on the project will be curated by the expert Stefanie Marlene Wenger. The art shown on the screen will also have a certificate of authenticity that will be displayed as well.
This system will also show how rare a piece is so that people can acknowledge the rarity and scarcity of the asset.
At the moment, this is considered a work in progress and it will get more complex and developed with time.