NFT’s are becoming a popular rage and you must be wondering, what exactly are they? NFTs first started with the founder of Twitter selling his autographed tweet as an NFT. After scrounging the net I can finally describe them to the best of my ability. NFT- stands for Non-fungible token. 

What is a Non-fungible token?

To put it in simple terms, something non-fungible is something that is one of a kind and cannot be replaced.

With that being said, how does it work? NFT’s are part of the same digital ledger as Cryptocurrencies such as Bitcoin. Its ledger supports both things, but other ledgers can also make their own NFT’s.

Why do people want NFT’s?

Frankly, NFT’s can be almost anything digital, like pictures and music, but the current theme is simply to buy digital art. NFT’s are becoming a new evolution. They are the next generation of fine art, and with that, comes fine art collectors. It is natural to be confused and here is why. I am sure many of you have wondered why art in museums is in the museum, or art collected by others is owned in their home. This art could be extremely unappealing, leaving you questioning why people would want to own the art. NFT’s are the same concept. They are appealing to some, unappealing to others.

Now you must be wondering, why can’t you just download the same file or screenshot the original work to have it as your own? First off, it is just plain rude to do this. Secondly, NFT’s are like artwork, but no matter how much you take counterfeit copies and claim as your own; the real worth will be that of the original.

Obviously, not everyone is interested in NFT’s, so like other things, they will probably die out, except amongst certain groups of people. We have seen similar things, such as Pokemon cards.

With that being said, I would tell you to go get your own NFT’s, but you have to be serious about owning them. 

Why you should take buying them so seriously?

Honestly, extremely valuable NFT’s are very expensive. Owning one-of-a-kind NFT’s which are “tokenized,” or given a digital certificate, is a daunting task but can be rewarding nonetheless, only if you are interested in the ownership. 

Let me know what you think about NFT’s or if you own any yourself! Thanks for reading!