2021 will be looked back upon as the year everyone was talking about NFT’s.
So what does NFT mean?
Non-Fungible Token.
It’s a complicated name that made my head spin when I first heard the term.
In the simplest way I can explain it, an NFT is a totally unique token that can be bought and sold.
Bitcoin is not unique. NFT’s are unique.
Example:
You create a digital drawing.
You go to a platform like opensea.io or mintable.app.
When you list your digital art for sale, it gets added to the ethereum blockchain and your NFT is “minted.”
Your digital artwork file is now an NFT that can be transacted with on these platforms.
One of the most commonly asked question I heard is:
What makes an NFT valuable?
As we continue to move into a digital world, spending a majority of our lives scrolling pixels, people will (speculation) start valuing pixels as much as they value paint on Monet’s canvas.
People will want to show off their NFT’s. NFT’s will mean something to people. People will buy, collect, trade, convert, and exchange NFT’s for other goods and services. The opportunities are endless.
I’m still early in the learning about NFT’s, but if you have questions or want to connect to chat about it, my DM’s are open and you can take a look at some video content I create around NFT’s on tikotk.