NFTs is a trending topic at the moment, and we are about to hear more of it throughout the year. NFTs essentially stands for Non-Fungible Tokens, essentially, digital assets that live on blockchains. NFT’s have been around for a few years, but are surging in popularity as a sub niche of the DeFi movement that is also exploding in popularity. Essentially, an NFT is a digital assets that can include code, contracts, art, videos, and music that tends to have a high value due to their uniqueness.
One thing is certain, NFTs are creating opportunities for non crypto people to earn money by trading digital collectibles such as art or trading cards. The digital art is signed in the blockchain thus proving uniqueness. For instance, we have Grimes, the musician who made $6.6 million selling his artwork as an NFT and Elon Musk’s “NFT tweet” getting over $1.1 Million dollar bid .. Some people are even referring to these NFTs as digital collectibles, which suits it quite well. Think of them as a digital baseball card or Pokemon card that is signed with a blockchain hash.