Guide for the Application of NFT Based Digital Asset approved by IEEE-SA

On September 23th, the NFT international standard P3220 Guide for the Application of Non-Fungible Token (NFT) Based Digital Asset led by Beijing Tai Cloud Technology Co., Ltd. was officially approved by IEEE-SA (Institute of Electronic and Electrical Engineers Standards Association). This standard is also the first IEEE International Standard focusing on the practical application of NFT digital assets.

This standard covers the main steps for the conversion of physical assets to NFT, the lifecycle management process of NFT derivatives, and the interaction and display mode of NFT in the physical world, i.e. the generation, issuance, exchange, right confirmation, system interaction and display process of NFTs. The standard will provide technical guidelines and specifications for NFT digital assets standardization for which related manufacturing enterprises, logistics, storage enterprises, financial institutions, auction companies, museums, art galleries and other exhibition venues, artists, creators and other NFT digital assets enterprises, organizations and individuals, so that could guide NFT’s industrial application in the future.

IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. IEEE and its members inspire global community through its highly cited publications, conferences, technology standards, and professional and educational activities. The approval of the “Guide for the Application of Non-Fungible Token (NFT) Based Digital Asset” project is an important measure to standardizing the NFT international market and promoting global scientific and technological innovation collaboration within NFT industry.