Non-Fungible Tokens (NFT) are the Latest Hot Blockchain Application and Address a Market Already Worth Over $2 Billion That Grew 2100% Last Year
Irvine, California, July 01, 2021 (GLOBE NEWSWIRE) — SmartAxiom Inc, a subsidiary of Life on Earth Inc. (OTC Pink: LFER), today announced its Non Fungible Token (NFT) solution to secure the identity and ownership of digital assets such as Digital Art, Graphics, IoT devices, Music and more. SmartAxiom has developed and deployed an innovative, light blockchain to manage and secure IoT devices such as smart lights and shipment trackers. Establishing strong identity (i.e. ensuring that communication is occurring with the correct device) is the foundation of security and, when paired with an immutable blockchain cloud backend, the SmartAxiom technology makes for a robust and ready NFT solution.
The SmartAxiom NFT solution enables the owners of digital assets to permanently attach a unique identity to their asset (such as an artwork) and track how it is being shared and distributed with other users. Immutable blockchain ledgers, that are encrypted and distributed, store the digital assets, the transactions of those assets, the users’ records, and the smart contracts executing the custom business rules. The NFT solution enables anyone to verify the authenticity and ownership of an artwork and trace its provenance (the chronological history of all related transactions). The intelligent NFT solution can scale to handle millions of assets, users, and transactions without affecting the performance or security of the solution.
Amit Biyani, SmartAxiom founder and President, commented, “We are pleased to launch this thrilling new application of our blockchain technology. The potential market is huge, and we are already deploying this for customers to help them monetize their digital assets.”
Mahmood Khan, LFER CEO added “The exciting SmartAxiom NFT solution fits perfectly with our strategy of delivering safe, compliant cloud systems that raise business productivity and innovation. This solution enables creators of digital assets to essentially “patent” their art and enable the potential for receiving royalties from their digital assets. I am very excited about the potential commercial benefits to the artists and the owners of digital assets. This is a game changer technology not just the hype about NFTs. I am very pleased to bring this pioneering technology to robust commercial solution.”
More information on the solution can be found at:
About SmartAxiom Inc.
SmartAxiom’s software manages and secures the Internet-of-Things (IoT) through patented, lite blockchain technology running among those devices at the edge of the Internet and enabling them to defend themselves. Our peer-to-peer distributed ledgers improve security, latency, reliability and manageability. We uniquely create the first true endpoint-to-cloud blockchain solution, while our IoT Smart Contracts manage NFTs and push intelligence to the edge. SmartAxiom technology is proving valuable in many verticals such as smart buildings, manufacturing lines and shipment tracking. It interoperates with enterprise systems such as IBM Blockchain and Microsoft Azure and is proven on many ARM and Intel based microcontrollers such as those from Intel, NXP, Renesas, Marvell, and Broadcom. https://www.smartaxiom.com
About Life on Earth Inc.
Life on Earth, Inc. (LFER) is a cloud enterprise software developer and a provider that enables rapid innovation that keeps the enterprise operations safe, compliant and manageable. The products were designed to help organizations innovate and modernize legacy systems while minimizing cost and risk of business disruptions and ensure regulatory compliance. For more information, please visit our corporate website – www.lifeonearthinc.com Investors and corporate inquiries, please contact: [email protected] | (646) 844-9897
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