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World’s first NFT marketplace for science and tech IP to launch in March

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2022-01-17 18:30:14

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RMDS Lab, a data and artificial intelligence (AI) platform based in California in the US plans to create the first non-fungible token (NFT) marketplace for science and technology intellectual property before the end of March. RMDS was founded by IBM’s former chief data scientist Alex Liu in 2009 to create a global community of data scientists and researchers and to promote scientific innovation through data and AI.

An NFT, which is a unit of data stored on a digital ledger known as a blockchain, certifies that a digital asset is unique and therefore not interchangeable. NFTs have been gaining in popularity as a way to authenticate and exchange intellectual property (IP) in art, gaming and beyond. RMDS says ‘an overwhelming demand for NFT minting and listing’ by its ‘thousands of members and associated experts’ led to its decision to create a bourse to sell NFTs for research and technology-associated IP.

Trade in this area of digital assets grew rapidly last year after an NFT for a digital work of art by graphic designer Mike Einkelmann, known professionally as Beeple, sold for more than $69 million (£50 million) in March. The NFT market rocketed almost 43,000% between 2020 and 2021, according to the cryptocurrency exchange Binance.