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TBY Holding Innovation Director: NFTs have attracted great attention

TBY Holding Innovation Director Erdal Can Alkoclar said that NFTs have recently attracted great attention, especially in the art market.

TBY Holding Innovation Director Erdal Can Alkoclar said that NFTs have recently attracted great interest, especially in the art market, and noted that the real potential of NFT applications is scientific studies and engineering projects.

In the statement made by TBY Holding, Alkoclar said, “NFTs, a type of data unit stored in a digital ledger called a blockchain, which confirms that a digital asset is unique and therefore not interchangeable, has been in great demand recently, especially in the art market. NFTs, which can be used to represent items such as artwork, photos, videos, audio, and other types of digital files, have features that can radically change the commercial conventions of the art market, especially from their absolute nature of inimitable blockchain structures and digital confirmability.”

Emphasizing that there are many patentable medicine, engineering projects and technical designs in our country, Alkoclar continued as follows:

“Thanks to the Movable Pledge Law No. 6750, enacted by our government, the way for most securities (all intellectual property rights such as raw stocks, patents, trademark registrations, agricultural product stocks, agricultural machinery) which were not accepted as bank guarantees before, to be accepted as primary collateral, and many simultaneous examples emerged. With a new concept that we can call technical NFT, especially patents of pharmaceutical and defense projects, energy projects and many more such high potential intellectual assets can turn into self-funding digital securities. Thus, our esteemed minds and inventors can finance their projects themselves, without the need to seek investors or loans, and without borrowing from third real or legal persons.”

Noting that the number of NFT exchanges with the art concept and the volumes of these exchanges have increased rapidly, Alkoclar said, “The brain potential of our country and the familiarity of our young people with the blockchain culture will enable us to adapt to technical NFT projects very quickly. A large number of domestic patented inventions and registrable engineering projects that already exist in our country can enable us to be at the forefront of the leading countries in the field of Technical NFT. Again, thanks to the same potential, it may be possible to provide financing to Turkey’s economy that does not create a serious and unprecedented debt burden.”

Source: AA / Translated by Irem Yildiz

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