Digital Assets Management System in NFT Trading Platform

In recent decades, digital assets have become indispensable in human use. With the rapid development of the Internet and total globalization, we were forced to look for new or alternative approaches to various asset exploitation. Technologies developed, communications improved, and industry goals emerged. It was due to demand and an increase in the share of […]

Date published:

20 September 2022

4 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 54 votes, average: 5.00 out of 5Rating: 5.00/5 (Based on 4 votes)

Date modified:

28 September 2022

In recent decades, digital assets have become indispensable in human use. With the rapid development of the Internet and total globalization, we were forced to look for new or alternative approaches to various asset exploitation. Technologies developed, communications improved, and industry goals emerged. It was due to demand and an increase in the share of consumer content that the decision was made to create and regulate digital assets.

With the widespread use and development of blockchain technologies, digital assets were deformed. If earlier it was user photos, videos, or securities, then later cryptocurrencies and NFTs were added to them. And of course, the Internet community has logical questions: how to manage and secure digital assets? Later, a whole system called Digital Assets Management (or DAM) appeared, which helps to understand this. We will try to answer the most pressing questions related to Digital Assets Management.

What is Digital Assets Management?

Digital Asset Management, or DAM, is a complex system designed to manage, control, and securely store your digital content in one centralized location. DAM platforms allow the owner, his representatives, and other participants to have direct and controlled access at any time to digital data contained in one secure place. It allows you to ensure and improve the company’s productivity working with digital assets. Thus, managing digital assets helps in organizing your assets in such a way as to maximize their value and stable functioning.

How Does Digital Asset Management Work?

We know the digital asset management system definition. Now our next step will be to understand the principles of DAM work. First of all, a digital asset management solution helps in creating a digital asset using standardized templates and formats. It helps in finding files and getting the digital asset workflow you want. In addition, DAMs help with encoding and indexing, which significantly improves the digital asset’s protection and identification. Each digital asset undergoes appropriate version control, which provides an initial check for defects and errors in the asset. With DAM, you can provide specialized access to bring a wider range of people into the team, and it also helps prevent fraud and digital asset theft.

Why Do You Need Digital Asset Management?

No matter how you implement a DAM solution, it will help you manage and store your assets. Companies turning to this technology can be startups, various companies, and international brands. Digital asset management tools will help you store and monitor your assets in one place that will ensure their maximum economic efficiency. It will help scale and maximize your company’s revenue.

Digital Asset Management Benefits

DAM has many functional and non-functional advantages that distinguish it from other modern technologies.

The benefits of Digital Asset Management will help you organize content in one place. You will no longer need to spend time searching for assets scattered on different media because DAM is all stored together. Another bonus will be a wide package of all possible metadata. You can easily and quickly sort through tens of thousands of digital assets with the help of appropriate filters to find what you need in a matter of minutes. Another advantage is content coordination. For example, the creator and owner of a digital asset are different people. With the help of DAM, you can quickly systematize and smooth all the corners, staying in understanding with the team. Digital Asset Management platforms help minimize the risks that digital assets are so often exposed to.

Digital Asset Management Features

In general, the features include the advantages of DAM. But we conducted a more in-depth investigation and identified several main features characteristic of DAM digital asset management. Let’s consider the first of them. The DAM system allows you to set up full support for the life cycles of digital assets using a single user-defined interface. It allows you to automate file routes by coordinating directly with the system and the user. Also, digital asset management DAM supports many formats and runs on different devices. You can structure gigabytes of digital data by format, type, and other components. The open architecture of DAM allows you to involve third-party development. You can connect your API, which will allow completely different files.

Who Uses Digital Asset Management?

First of all, the main consumers of Digital Asset management examples are groups of people, institutions, or companies that directly have digital assets on their accounts that need to be managed and systematized. Indeed, the main criteria for this will be security, flexibility, speed, and easy access to metadata. Typically, DAMs are used by state and local agencies, certain marketing groups, sales and distribution teams, and information technology areas.

Why is Digital Asset Management Important?

Referring to all the above advantages and features, it is not difficult to understand the importance of Digital Asset Management. A key factor why DAM is important is the ability to locate and store an organization’s assets exclusively in one secure location. It prevents sabotage and attacks on digital assets by attackers. So, DAM systems offer a reliable level of protection. In addition, your data will be more systematic and organized. It allows you to quickly find the asset you are interested in.

How to Choose a Digital Asset Management System?

In order to successfully choose a Digital Asset Management System, it is necessary to pay attention to certain factors. We have highlighted the main theses that every DAM should have. To begin, you need to determine the current status of your asset. Here you need to collect all the information about the format, type, size, value, etc. You will proceed by concluding a contract with one or another specialized DAM. The next step is to understand the purposes for which you are going to manage digital assets and what it is for you. With all the collected information about a digital asset at your disposal, you will be able to search and choose a DAM.

OctoGamex – Best Example of NFT Digital Assets Management Platform

Because one of the best examples of digital assets is NFT (due to its structure and format), it is impossible not to give a valid example of the best platform using Digital Asset Management. OctoGamex allows its users not only to store their NFTs but also to track and carry out various manipulations. By storing your digital assets on the platform, they are always protected and in one place. Moreover, you will be able to know all the information about your NFT by simply opening the details (format, type, shape, etc.). You will also be able to verify transactions easily because all transactions on OctoGamex are completely transparent. Check it out for yourself – try the OctoGamex! 

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