Non-fungible token NFT
Contents |
[edit] Introduction
A non-fungible token (NFT) is a distinct digital object that is housed on a blockchain. An NFT is best described as a registration licence for a particular, one of a kind object. For architects, photographers and other producers of original concepts, NFTs are a method of creating, showcasing and commercialising their designs.
In the NFT marketplace, authenticity of original ownership is not the same as copyright.
[edit] Licencing and management
The licence number for the NFT is retained within a blockchain database of information, stored chronologically across a decentralised network of computers. Once published, the information on the blockchain cannot be changed. There is just one single source of information or single source of truth (immutable records of transactions, interactions) on the blockchain maintained by the network and its protocol.
[edit] Blockchain as the NFT backbone
Blockchain was introduced in 2008. It was first adapted as the underlying technology of Bitcoin.
In 2020, blockchain started being used as a management, certification and trading tool for unique digital assets that are tracked on blockchains. These assets could be in any digital format - and could be copied - but there would only be one 'original' NFT record. Assets could include music, fashion, games, video, and so on. NFTs provide a mechanism for creating a market for these intangible items.
The digital collectible market of 2021 has grown exponentially, as more NFTs become available and people become more comfortable with cryptocurrencies.
[edit] Energy issues and crypto trading
Due to its reliance on computing power, blockchain, bitcoin and NFTs have been criticised for their energy usage and the carbon footprints they produce. This is due to their reliance on the proof-of-work protocol that confirms blockchain transactions over public networks.
Some NFTs are seeking alternative measures of authenticity verification - such as proof of stake - that are less energy intensive.
[edit] Related articles on Designing Buildings Wiki
- Blockchain.
- Blockchain could transform the construction industry.
- Blockchain definitions.
- Blockchain – feasibility and opportunity assessment.
- Blockchain in the built environment.
- Blockchains will change construction.
- Eliminating waste at scale – opportunities for blockchain.
- Metaverse.
- Persistent identifiers for digital objects.
- Student projects released as non-fungible tokens.
Featured articles and news
Boiler Upgrade Scheme and certifications consultation
Summary of government consultation which closes 11 June 2025.
Deputy editor of AT, Tim Fraser, discusses the newly formed society with its current chair, Chris Halligan MCIAT.
Barratt Lo-E passivhaus standard homes planned enmasse
With an initial 728 Lo-E homes across two sites and many more planned for the future.
Government urged to uphold Warm Homes commitment
ECA and industry bodies write to Government concerning its 13.2 billion Warm Homes manifesto commitment.
Places of Worship in Britain and Ireland, 1929-1990. Book review.
The emancipation of women in art.
CIOB Construction Manager of the Year 2025
Just one of the winners at the CIOB Awards 2025.
Call for independent National Grenfell oversight mechanism
MHCLG share findings of Building Safety Inquiry in letter to Secretary of State and Minister for Building Safety.
The Architectural Technology Awards
AT Awards now open for this the sixth decade of CIAT.
50th Golden anniversary ECA Edmundson awards
Deadline for submissions Friday 30 May 2025.
The benefits of precast, off-site foundation systems
Top ten benefits of this notable innovation.
Encouraging individuals to take action saving water at home, work, and in their communities.
Takes a community to support mental health and wellbeing
The why of becoming a Mental Health Instructor explained.
Mental health awareness week 13-18 May
The theme is communities, they can provide a sense of belonging, safety, support in hard times, and a sense purpose.
Mental health support on the rise but workers still struggling
CIOB Understanding Mental Health in the Built Environment 2025 shows.
Design and construction material libraries
Material, sample, product or detail libraries a key component of any architectural design practice.
Construction Products Reform Green Paper and Consultation
Still time to respond as consultation closes on 21 May 2025.
Resilient façade systems for smog reduction in Shanghai
A technical approach using computer simulation and analysis of solar radiation, wind patterns, and ventilation.