Which Company Owns NFT?

NFTs and NFT projects are non-fungible tokens that are unique and rare and are encrypted by blockchain in such a way that their authenticity and ownership are transparent and accurate.

When we search online, we see millions of NFT projects and different NFTs. But who or which company owns an NFT? This question has involved the minds of many users and even companies in different ways. In this article, we want to explain more about these issues.

To better understand the concept of NFT, if you haven’t read our previous articles, be sure to read them in Bored Hamster Blog. You can start with our “What is NFT” post, In which we have fully explained the most fundamental issues of NFT.

Well, you must know that, in summary, NFTs have been discussed since 2012, and then during these years, they first entered the gaming industry. Then, in 2017 and 2018, the first NFT markets were formed, and 2020 and 2021 reached their peak. Of course, the digital market and virtual world are still trending. Blockchain technology’s invention, the first NFTs, was formed a few years later.

Digital artworks and game items were tokenized and encrypted, just like colored coins in the world of cryptocurrencies, and this was just the beginning of NFTs.

To read more about the exact formation of NFTs, you can read our article about the history of NFTs.

Since NFTs have become famous, many companies and brands have created their own NFTs and NFT projects.

In an analysis and review of data, they have shown that the number of institutions and companies that have applied to the United States Patent and Trademark Office for trademark registration and encryption services has increased by more than 5,800 cases compared to 2021.

The invention of NFT does not belong to a particular company, but today, most big companies have their own NFTs. Currently, NFTs play a vital role in membership fees, branding, advertising, investment, and the support of companies.

Below are some companies that have started their NFT projects.

• Netflix uses NFT to collect data. Netflix has published a set of NFTs in OpenSea for TV attendance data. (source)
• Nike has entered the NFT fashion industry and sold over $185 million worth of NFTs. (source)
• Also, D&G, Gucci, and Adidas brands are all active in the NFT fashion industry.
• Starbucks rewards Starbucks-branded digital collections, thereby building the Starbucks community. (source)
• Tiffany & Co., manufacturing luxury goods, has introduced CryptoPunk NFT necklaces. (source)
• Football clubs have also entered this industry. For example, the symbolic NFT of the Barcelona club is sold for 693,000 dollars in New York. (source)

To clarify, let’s say you buy a physical artwork, such as a famous statue, and the original sculpture is yours. There may be thousands of statues like yours, but the original sculpture is the same and only belongs to you. Although others use a copy of this statue, it does not belong to them. In NFTs, digital artworks are as valuable as physical ones.

It is the same in NFT projects launched by companies or individuals. An NFT project has clear ownership and is clear about which company it belongs to. Because when a digital work is tokenized, its encryption on the blockchain makes it possible for all information in the blockchain to be recorded forever, accurately and traceable.

We have explained so far that the NFT project is related to the companies and people who launch it, and this is recorded and accurate on the blockchain. But as a person who enters the NFT industry, you should pay attention to the fact that every NFT project registered and launched on the blockchain cannot be original.

Many fraudsters fake digital NFT projects just like in the physical world they fake physical works of art. As a result, if you are not careful, you may buy an NFT that is just a copy! Yes, there are NFT projects launched in NFT marketplaces that gather many members or build and sell NFTs similar to famous projects. But they never work like a real NFT project, have low prices or disappear!

Related Post: You probably didn’t know about these scams. We suggest you read the article we have prepared for you about the types of fraud methods in the field of NFT.

In this regard, you should be aware of which NFT projects are worth investing in. We prepared an article about “Which NFT projects to buy“. We suggest you read it.

Conclusion

In summary, it can be said that NFTs are produced and designed as single or set NFTs produced by artists or commercial companies. Collection NFTs are usually designed as part of an NFT project. The tokenization and encryption of digital arts in the blockchain have allowed NFTs to track exactly who an NFT belongs to at any point in time or which company has launched this NFT project. As a result, the right of ownership of an NFT is always clear, but users should further investigate the right of ownership of an NFT project.

For example, with a little search, it is clear that a powerful project like Bored Hamster NFTs belongs to Almubdieuntech company. You can see its excellent prospects now and invest in a reliable project.