What is a NFT?
NFTs ("Non-Fungible Tokens") are one-of-a-kind tokens that represent a unique good or asset, like digital art. They are provably scarce, meaning it is possible to verify that they are one-of-a-kind. NFTs can be bought or sold and in some cases rented. People often use NFTs for collection purposes.
Why so popular?
NFTs are generating a lot of excitement, with big brands and celebrity figures getting involved in the action.
There are a few factors driving this excitement. The most obvious one is that NFTs unlock new creative potential.
NFTs are not just about finance. NFTs cover a broad range of use cases including sports and gaming, digital fashion, music and art. NFTs are creative technological instruments that unlock the potential for creatives and entrepreneurs to retain agency and monetize their creations via a direct connection to their audience.
The biggest and most exciting thing behind NFT adoption is the cultural impact. The more time we spend online, the more our digital identities become as important as our physical ones. NFTs are the Web3 vehicle for self expression and social currency.
NFTs are the creative cousin of cryptocurrency, and the more people get to know the blockchain family, the more they get to see, experience, and enjoy the opportunities available.