Toward Interoperability of NFT Marketplaces

Abstract

Blockchain plays a major role in the security field, it is a replicated and shared database among the network’s participants. The main feature of blockchain is that it allows untrusted individuals to securely interact and send transactions without the need for a trusted third party. Non-fungible tokens often referred to as NFTs, are blockchain-based tokens that each represents a unique asset like a piece of art, digital content, or media. An NFT can be thought of as an irrevocable digital certificate of ownership and authenticity for a given asset, whether digital or physical. It is designed to be cryptographically verifiable, unique, or scarce, and easily transferable. The large number and heterogeneity of the blockchains make NFTs interoperability management as one of the most complex and challenging tasks. The present paper provides an overview of the blockchain new projects for enabling NFTs interoperability.