DEA's and Non-fungible Tokens Explained
A non-fungible token (NFT) is a unique digital asset that can be owned but cannot be copied or substituted (non-fungible = unique and can’t be duplicated or changed). NFTs are outwardly an image or video but can additionally act as stores of digital media, such as epubs or audiobooks. Book.io created DEAs (Decentralized Encrypted Assets) to encrypt NFTs to ensure that only the owner of the asset can access any media held within it. NFTs, along with Book.io’s DEA encryption, means users can now truly own a digital item or product when historically, digital books, movies, and music have operated under a license model.