What does it mean to tokenize an item?
A token is a highly secure digital certificate that represents the ownership history of the item on the blockchain. The token also contains relevant information about the item that you, the creator, provide including description, attributes, dates and smart contracts such as those required to automatically collect and pay out royalties.
Why tokenize your item?
Tokenizing your item has many benefits and as Web3.0 matures, these benefits will expand.
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It authenticates that the item is legitimately your creation because you created the token.
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It shows the current owner(s) of the item. When you sell or transfer the item, the token changes ownership and the chain of owners is recorded on the blockchain.
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It contains a smart contract that programmatically automates the terms of the agreement.
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It empowers the holders of the tokens to organize into a community with common interests and values.