Enabling unique asset tracking on the blockchain using NFT

This section comprises two main sections: The business requests, which will unravel the specific demands that were at the origin of this solution, and The technical solution, which will provide a structural overview of the standard smart contract, its methods, and events.

The business requests

An asset is considered fungible when it shares the same quality and value as another asset of the same nature, making them interchangeable. For example, one dollar is interchangeable with another dollar, and the same applies to native cryptocurrencies and tokens, such as DAI or USDT.

Conversely, if an asset is non-fungible, it means that it is unique and cannot be replaced by another because there is no equivalent. Consider Sorolla’s “Walk on the Beach” painting. It is unique and while we can copy it from Google because we admire it, we do not truly own it and cannot prove ownership:

...