Educational institutions may soon accept not only cryptocurrencies for tuition fees but also non-fungible token (NFT) or non-renewable digital tokens.

NFT globally will soar from $50.10 billion in 2020 to $130.35 billion by 2028, with an annual growth rate of 10.7%, according to Emergen Research.

NFT are single, irreplaceable, digital tokens based on blockchain technology. The originals cannot be copied, counterfeited, or destroyed. They show ownership clearly and enable ownership to be tracked at all times.

These features of NFT suit them to proofs of graduation such as diplomas, as credible evidence for employers or related parties.

The metaverse is imminent. NFT diplomas will be an additional factor to facilitate design of personalized learning for learners.

Students will transfer credits across institutions and keep complete, accurate educational history data, whether from traditional education systems or other forms of learning.

Some universities are already offering degrees and certificates in NFT format:

- Hoseo University in South Korea has delivered NFT diplomas, accredited by government agencies and private companies, to 2,830 graduates.

- Sungkyunkwan University in South Korea has awarded certificates in NFT format to 3 outstanding graduates and plans to operate a blockchain system.

- Dhurakij Pundit University is the first university in Thailand to join with private companies to create diplomas NFT in conjunction with a paper degree for graduates from 2022.

Implications for the future:

- Turning important educational documents into digital tokens that can be delivered to learners accurately, quickly, and securely with blockchain technology will become a new standard for educational institutions, learners, and the labor market.

- Other important information may be turned into digital tokens, such as homework, especially in the so students hold copyright to protect their work and earn as creators.

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