Blockchain is a technology with broad applications across a variety of business operations, according to Serkan Terek, co-founder and chief product officer at Australian technology startup Meadow Labs.
Nonfungible tokens (NFTs), the company’s focus area, are just one of a variety of uses for the underlying blockchain technology. NFTs consist of digital artwork uniquely minted using blockchain. Meadow Labs is currently working with Australia Zoo — owned by conservationist Terri Irwin, wife of the late Steve Irwin, star of “The Crocodile Hunter” documentary series — to offer limited-issue NFTs as a means of fundraising to support its wildlife conservation mission. Still, that technology and the protocols involved can have significant implications on everything from costs to speed and efficiency.
“Specifically for Australia Zoo, it is an alternative medium to reach their audience through the use of NFTs,” Terek told PYMNTS in a recent interview. “But the question of, ‘What can blockchain do?’ That’s endless.”
What lies beneath
Meadow Labs’ NFTs reside on the Algorand blockchain, which Terek said differentiates the company’s NFTs. Like other…