About the future of NFTs phenomenon and unmistakable tokens on a blockchain. Jakub Jedlinský from FIR gave an interview on CT24

Dr. Jedlinský from the FIR’s Department of the International Economic Relations gave an interview to the Czech television (CT24).

What should we imagine under the term NFT? “Simply put, it is a transparent and permanent proof of ownership of a unique asset (currently mostly digital), which is stored in the blockchain. Or at least theoretically. Quite frankly, the owner buys NFT just for unquestionable evidence of their purchase, so basically just for a digital receipt,” describes economist Jakub Jedlinský from the Department of the International Economic Relations at the Prague University of Economics and Business, who has been dealing with the issue of cryptocurrencies for a long time.

According to him, the rise of the NFT happened thanks to a fact that cryptocurrencies have become much more popular in recent years. A major role in this played the Covid pandemic. “The number of people who had a lot of free time and savings that they could not spend, went drastically up thanks to the pandemic, lockdowns and the governments’ financial support for the inhabitants. That money would often end up in different apps for investing, crypto markets or would be invested in computer games. From this point of view, the pandemic has clearly helped the gaming sector,” says Jedlinský.

As part of the university-wide Bitcoin and Blockchain elective course, students at the University of Economics learn to create such tokens, among other things but, above all, to approach these trends critically and search for meaningful uses, preferably in cooperation with practice or in their own business.