Technology

How to Secure NFT Assets

If there’s any term that can describe the current NFT market, it’s the Wild West. Because the NFT space is still experimental and regulations are unclear or lax, it has attracted a flood of hackers and scammers who are on the hunt for a payday. If you own digital assets or you’re looking to dip your toes into the market, you need to learn how to secure NFT assets. Scammers’ favorite way to steal your NFTs is through phishing scams. Once they enter your account, they’ll drain it. Others bait users to invest in fraudulent or nonexistent NFT schemes, only to disappear once investments pour in. Follow along as we dig deep into proven ways to store your NFTs in a way that shuts out all kinds of swindlers. Let’s start by understanding what NFTs are and what a blockchain does. Short for non-fungible tokens, NFTs are unique digital assets that exist on a blockchain and serve as proof of ownership. Items that have been sold as NFTs include paintings, images, videos, in-game items and even tweets. To better understand NFTs, you need to grasp the keyword “non-fungible.” Take a dollar bill, for instance. Any dollar bill can be swapped with another, making it a fungible — or interchangeable — asset. However, there’s no way you can replace a Beeple artwork, for example, with any other image.

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OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.