NFT (Non Fungible Token).
Non Fungible Token (NFT) stands for Non Replaceable Token. Being non-replaceable means that the "token" is unique and cannot be replaced with anything else. What is not covered by NFT is Bitcoin, since it can be exchanged with a Bitcoin that is exactly the same. What does fall under an NFT is, for example, a unique trading card. NFTs are offered over the Internet, as part of the Ethereum Blockchain.Ethereum is a cryptocurrency like the Dogechain or the aforementioned Bitcoin. Unique NFTs are also supported by the blockchain. They contain information in a different way than a Bitcoin possesses.
What are NFTs?
In a nutshell, NFTs are a way to sell digital art through technology. This can really be anything, such as:
- Drawings
- Music
- Cards
- Photos
- Videos
You can find even more unusual NFTs than the aforementioned examples. For example, an Artificial Intelligence scan of your brain can also be purchased as an NFT. The risk that NFTs carry with them is the "uniqueness. After all, making a copy of an NFT image and using it is just as good as the original. For collectors, it's mainly about having the original NFT; for example, you can find prints of paintings by Vincent van Gogh in stores. The same problem arises with NFT (art) works. Being in possession of the original NFT is what can make the bids/prices so high.
Why invest in NFTs?
You can use Non Fungible Tokens in several ways. For example, it is possible to enable the NFT to be paid. Every time the NFT is sold or changes hands you can be paid as an artist, increasing the popularity and value of the NFT. In addition, the value of Blockchain currency and tokens has increased tremendously over the years.
As a marketer, you can bet on special NFTs such as special stickers or other collectible items. As long as it fits your brand and the customer 's interests, this can make for a lot of advertising. Imagine if the Nike brand had an NFT created in collaboration with an artist. Not only can the NFT make a lot of money, but there is also a lot of news and indirect advertising that can be made about nike.
