NFTs or Non-fungible tokens are digital assets that signify ownership of a product or item. NFTs have been emerging in several sectors, and the education sector has not been left untouched. They have transformed how people buy, purchase, and trade art, music, collectibles, and even property. Be it through social media or other prominent marketing tools, everyone is looking for ways to promote their NFTs. Similarly, non-fungible tokens have the capability to change the e-learning and education industry in several ways. Let’s take a look at some of the ways this sector has been using NFTs and the potential it has to benefit the industry further.
Credentials – Globally, universities and educational institutes use NFTs for credentialing. One such example is Duke University, which, through its online partner Coursera, provided Certificates of Completion to its students as NFTs. The certificates are stored on the blockchain, making them easy to verify for future references and employers. The chances of employers receiving tampered certificates also reduce drastically.
Records and Research – Storing data for educational institutes is always a challenge. It can vary from a student’s research projects to their records. On the blockchain, there are several ways that educational institutes can save and maintain these archives and make them easily accessible to faculty and students who require the same at a later date.
Sharing of Digital Content – Textbooks comprise a huge part of a student’s school and college learning process. NFTs can be used to sell textbooks as digital copies. This way, authors can even receive royalties when their textbook is resold, and students can access a variety of information across the world. Students can even sell their research papers through NFTs, promote the NFTs for free, and earn money on their own.
Personalized Learning – NFTs can be used to create specialized learning experiences to suit the needs of different students. These experiences can be tailored based on an individual’s interests and learning capabilities, making it easier for teachers and lecturers to reach out to a wider audience.
Scholarships – Another option is to provide scholarships in the form of NFTs. Students can now receive rewards in the form of cryptocurrency. This cryptocurrency can be used to purchase products from the university as these institutions accept tokens as a method of payment in their stores, canteens, coffee shops, and even as tuition. Some famous examples of such institutes are the University of Nicosia in Cyprus, The University of Cumbria in the UK, and King’s College in New York.
The potential NFTs have in the education and e-learning space is more than evident. While it definitely comes at a cost, educational institutes are slowly encouraging its use and finding ways to utilize non-fungible tokens in the best way possible. If you are looking for more ways NFTs can benefit your brand or industry or for channels that provide free NFT promotions, reach out to us at—-.