South Korean university to present NFT-based award certificates to students

Team Udayavani, Feb 15, 2022, 11:14 AM IST

Sungkyunkwan University in South Korea announced on Monday that it will offer the country’s first non-fungible token (NFT) awards at a graduation ceremony this week.

Moon Kyung-won, a pharmacy major, will be among numerous students who will receive NFT-based certificates of the university’s awards at the school’s graduation ceremony on Wednesday, according to the school.

According to the Yonhap news agency, these honours are the first-ever official university credentials delivered in the crypto asset type.

An NFT is a non-interchangeable data unit kept on a blockchain that may be owned and exchanged like digital items like films or avatar apparel.

The NFT certificate, according to the institution, is unaffected by loss or duplication and will serve as an official document.

(With inputs from IANS)