In the first half of 2021 when the hype of bitcoin and cryptocurrency was at its peak, there is this emerging art platform that capture people attentions among the blockchain news… they call it ‘NFTs’
So, what is an NFTs?
Well, it stands for Non-Fungible Tokens, in simple terms it is a unique and one of a kind digital asset in the form of GIFs, drawing, music, games or videos, where it’s authenticity has been certified securely on a blockchain ledger.
For me personally, one of the best parts of NFTs is the exclusive ownership rights, which means there is only one owner at a time.
It’s like having an autographed merch from your favourite artist and you are the only one who has it.
So, why should you get into it?
This is an emerging market, if you’re an artist or creator, you are now able to sell your digital work directly to consumers through blockchain technology as an NFTs.
In the end it could give you more profit by cutting off the middleman right?
On top of that, there is this cool feature where you can still get a percentage of profit from your art when changing hands, and I don’t think you can do that in the traditional way.
As for forward thinking art collectors who speculate the price of a certain piece of art might go up in the near future, this could be a part of your investment portfolio.
On traditional paintings there are people who try to replicate the original versions and one way to know if it’s original is through a certificate of authenticity.
Knowing that NFTs are designed so it can’t be copied is definitely a peace of mind for the owner.
