NFT’s became very popular in 2021. An NFT is a digital asset recorded on a blockchain, the same concept as Cyrpto’s, which can then be treated and sold like a stock depending on demand and supply. The current trend in NFT’s is art, although it can be anything from music to pictures.
The reason people like NFT’S are because:
- Non-fungible tokens can be shared and consumed but not duplicated, creating digital scarcity and proof of ownership.
- People who dislike stocks, and cryptocurrency, can now directly store value in retail digital art, digital land, and countless other NFT supported ideas.
It started in 2017 with people trading virtual cats, and it has been on a hype since then, with an average of 30,000 NFT’S created every day.
While the concept and industry don’t make much sense to the average person, some experts say we have to keep a close eye on it in 2022 because it could evolve into a new way of doing business and open completely new markets and opportunities. Crypto’s
Did you know: Twitter CEO, Jack Dorsey, sold an NFT of his first Tweet for $2.9 million