NFT tokens are primarily a medium to authenticate and validate ownership of digital data on the blockchain. A specificity too often forgotten in favor of unlikely collections presenting, at best, a variation of animals. To the point of pushing their historical adversaries to summarize their uselessness in this simple speculative variant. Yet the revolution is elsewhere.
In fact, non-fungible tokens can provide concrete solutions in many areas, some of which are yet to be discovered. For instance tickets for shows or sporting events. But also, and this is much more surprising, in the form of official court orders. Because what better way than an NFT to reach a digital criminal?
NTF – Non-Fungible Court Orders
An experiment already carried out on several occasions in the context of cryptocurrency theft disputes. With this specificity of being more often than not unable to contact the person responsible for this scam by traditional means (mail or email). The only available option therefore remains to use the wallet address where the cryptocurrency funds have been moved.. And in this specific case, the use of an NFT turns out to be a “reasonably calculated” means of issuing a court order.
A procedure kept, for example, in November 2022. This was in the context of a dispute whose damage was estimated – and validated as theft – at over $958,600. A case in which the District Court of South Florida granted The Crypto Lawyers law firm, authorization to notify the ongoing proceeding via NFT. An official digital document containing the notice of the legal action and a hyperlink to the various legal documents relating to this proceeding.
A feature already used in many countries such as the US, but also the UK and more widely in Europe. But most of all from international companies that are happy to be able to contact malicious actors previously impossible to reach. Which in no way guarantees that they will open this NFT, even if it can be verified, let alone that they will be liable for it.