Greek expert explains NFTs – and how they could transform business in Greece

NFTs are now a hot topic in the news - according to a Greek IT expert, they will soon have a major impact on Greek businesses.

They sold digital art for millions — even the first tweet in the world was sold for 2.9 million dollars.

"NFT stands for Non-fungible Token, which is meaningless to most people," explained Lefteris Karafilis, of Giant Stride ( https://www.giantstride.gr/en ).

"The Non-fungible bit means that it is unique and cannot be replaced by other things. Literally, it is unique!

"What NFT allows you to do is transfer ownership of digital things. Think of the Mona Lisa. It is owned by France, but it's on display, so millions of people can see it.

"In exactly the same way, anyone can see the first tweet ever, but the original owner has sold it to a newcomer."

Lefteris believes that the technology behind this may change the way certain businesses are carried out in the future.

He said: "NFT is a part of the blockchain. The blockchain is a system that records information in a way that cannot be altered or deceived. This changes the rules of ownership.

"Transactions where the ownership of something changes hands require intermediaries such as lawyers to build trust, draft contracts, and ensure that funds change hands.

"Since blockchains cannot be deceived, they can change the way we sell assets such as houses and cars. It can also make it easy for creatives to sell digital works.

Giant Stride
Lefteris Karafilis
info@giantstride.gr
+30 2111985162
Greece

"There are great opportunities; it’s so exciting."
Lefteris’ business Giant Stride ( https://www.giantstride.gr/en ) was formed in 2014. It now looks after dozens of businesses in Greece.

This release was published on openPR.