Thursday, December 2, 2021

NFTs

By now you have probably heard of "NFTs" or "non-fungible tokens" in one way or another. You may have heard of them through following Elon Musk and/or Gary Vee or other celebrities and noteworthy figures. Nevertheless, they are the latest emerging craze in the cryptocurrency space with players like Snoop Dogg and Boy George joining the movement but, believe it or not, they are nothing new. NFTs have been in existence now for several years but just recently began gaining traction among the greater public with outlandish news of record breaking auctions reaching the headlines of mass media. 


NFTs are pieces of graphic and illustration art, animations, photographs, music, and basically any other creative work that can be digitized whose rarity and authenticity is registered and can be proven through blockchain technology which allows the artist or creator to profit and retain the rights to their work in perpetuity. 


Because NFTs are registered or "minted" on the blockchain, collectors can verify their authenticity and artists can retain copyright and collect royalties whenever they are resold. This is a major game changer for digital artists everywhere who heretofore had no avenue or recourse for monetization of their work and it levels the playing field immensely. It is a complete revolution in art and culture and virtual galleries are springing up all over cyberspace. 


There are in fact a multitude of NFT galleries popping up as of late. A simple Google search will reveal them to you, but a few of them off the top of my head are OpenSea, Rarible, and Bondswap. There will be more to come in the future for sure. 


So, what are you waiting for? Take a deep dive into the rabbit hole of NFTs and immerse yourself in a journey into the brave new face of digital art creation, collection, commerce, and culture.


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