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An NFT, which is a unit of data stored on a digital ledger known as a blockchain, certifies that a digital asset is unique and therefore not interchangeable. NFTs have been gaining in popularity as a way to authenticate and exchange intellectual property (IP) in art, gaming and beyond. RMDS says ‘an overwhelming demand for NFT minting and listing’ by its ‘thousands of members and associated experts’ led to its decision to create a bourse to sell NFTs for research and technology-associated IP.

RMDS’s goals in moving into NFT sales are to connect scientists with investors, as well as to link science and technology IP with related collectors, investors and science enthusiasts. The intent is to provide new fundraising channels for science and technology projects, as well as to accelerate technology transfer.

‘For scientists, it is often difficult to get funding, and to get funding through the traditional channels takes a long time,’ explains Liu, noting that senior project managers sometimes spend more than half their time on these administrative tasks. ‘NFTs can simplify this and help people to focus more on their real work,’ he tells Chemistry World. ‘Also, scientists do not have many channels to reach investors, and an NFT marketplace can expand their reach.’

However, the technology that powers NFTs, as well as for cryptocurrencies, is energy-intensive and has a significant carbon footprint. Liu acknowledges that the technology behind NFTs is still evolving and developing to address these environmental issues, as well as security and copyright issues. ‘We are connected to a lot of experts in blockchain AI, and we want to develop this marketplace,’ he says. ‘With our talent pool we want to help solve some of these problems and make NFT exchange better.’

According to linkedin.com; chemistryworld.com. Source of photo: internet