IBM Exec on How NFTs Could Be Applied to Carfax Auto Sales and Other E-Commerce Transactions


Acceleration Economy Cloud Wars Expo

June’s live Cloud Wars Expo event featured dozens of industry leaders allowing the Acceleration Economy team access to the inner workings of the greatest growth market the world has ever known.

If you missed the Expo or just want to catch up on sessions you were not able to attend, then you’re in luck. We recorded more than 40 hours of education sessions from the event, which are available for free to Acceleration Economy subscribers. We’re also previewing the content in this series of Moments, which feature highlights from each session.

In this Cloud Wars Expo Moment, Kurt Scheetz, Exploring 5G, IBM, explains the role of NFTs in creating a digital path of “what transpired as it relates to your transaction.”

Highlights

00:16 — Scheetz uses the example of auto retailer Carfax as a digital leader as it relates to “who bought it, when it was bought, and how it happened,” since the platform assists consumers in purchasing new vehicles. Carfax shows potential buyers the history of the car, including accidents and damages — a concept that can be applied to NFTs.

00:51 — NFTs are a “digital ledger that basically shows ownership, transfer, good, bad, indifferent as it relates to that,” says Scheetz.

00:58 — Scheetz defines the Metaverse as a “shared virtual space” that is immersive, interactive, and hyper-realistic. So, how can NFTs be applied to the Metaverse? An NFT is a perfect example of how to track the progression of an item in the Metaverse because it follows the digital path as it relates to the transaction.

01:27 — Avatars that are created in the Metaverse are not necessarily called NFTs but are a form of one. In theory, you could sell an avatar as an NFT.


To see more Cloud Wars content, including all recorded sessions from June’s live Cloud Wars Expo, please register here for your Cloud Wars Expo on-demand pass. The on-demand pass, which is included with your Acceleration Economy subscription, gives you access to approximately 40 hours of invaluable educational content.



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