What on Earth is an NFT!?

NFT’s have been an emerging trend for about 3 years now, but what you may not know is that they’ve actually been around since 2014! 

Let’s start with the very basics. What does NFT even stand for? NFT stands for Non-Fungible Token. I know what you’re thinking… “well what does non-fungible token mean!?”

In short, a good or asset that is non-fungible is one that cannot be interchanged, replaced, copied, or divided. It is completely unique to itself.

So, if I Buy an NFT, what am I Buying?

At a very high level, an NFT is a digital asset that is stored and secured typically on an Ethereum Blockchain digital ledger, although other blockchains have the capabilities of holding them as well.

NFT’s can come in many different forms and can represent a variety of things that can represent both tangible and intangible items. These can include, but are not limited to the following.

– Music – Art – Celebritie – Collectible – Sneaker – GIF’ – Video Game Skins  – Video Game Avatar

Okay That Makes a Bit of Sense… but What is The Point of an NFT?

For hundreds of years, art has been bought, collected, and flipped because it has stored a certain level of value depending on the piece.

NFT’s are simply a modern approach to collecting art or digital assets for investment purposes. As our world turns more digitally enabled, digital approaches to replace almost anything are becoming extremely popular and heavily favoured by many.

Swipe up to learn more!