There is a new popular way of making money and buying digital things. The Non-fungible tokens, also known as NFTs is a one of a kind code or block chain. Most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information. NFTs can be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art.
You can sell anything digitalis a NFT. There are people buying NFTs of videos and photos for millions of dollars to have the original one. On a simple view, anyone can download the same photo or video from the internet.. are the NFTs worth that kind of money? So if an NFT gives you the same file that anyone can look up online, you may be asking yourself, whats so special about owning an NFT. They give you something that can’t be copied: ownership of the work.
It gets really crazy! 15 days ago an NFT named Beeple was sold for $69 million dollars.
As a artist, the NFTs opens a whole new world. You can sell your digital art for a whole new market. As a buyer or collector, you can say you are the actual owner of the art work, even if there are a thousand identical copies out there.
NFTs are a very messy and controversial concept. There are people that treat them as a gold mine and the future of art, and other who value them as Pokemon cards.
So remember, if you get inspired in spring break, create a digital art masterpiece and sell it as an NFT. We’ll be back soon! Wish me luck on my trip to the beach!
References:
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
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