I ask literally every person I bump into, what is an NFT? Sure "non-fungible token" is what the acronym stands for, but what exactly is an NFT?
One conversation I heard between a two people after asking my famous question went something like.
"It's crypto art man."
"No, it's not just art. It can be an item in a game or a raffle ticket."
"Ohh?"
"Yeah man, NFT's can do literally anything."
That is the joy, these things can be literally anything. My simple definition has been "a digital asset backed by blockchain technology."
Around February this year NFT's seemed to take off. Gaining media traction and many people pouring crazy sums of money at these things. Some to collect, but let's be realistic... Most people came to get rich quick. I found myself glued to my computer, non stop studying NFT's. They seemed to have a quick bubble, die down a little for a month, then take off again twice as hard! The community is usually really nice and helpful. From the ETH apes to the WAX gang and recently many hopping on the SOL train... I quickly found myself tossing money at so many different projects. Many are doing well, other's I must sit and play the waiting game.
The cool thing is everything is transparent on blockchain. This is what got me into crypto in the first place. One can not do something then try and lie about it. Each transaction is available for anyone and everyone to see all of the time. I see games popping up left and right with "play to earn" starting to trend. I see struggling artists, especially when covid hit having a completely new market to sell to. I see musicians actually having a fair way to sell their music. Imagine an NFT lottery or even one day an election decided through NFT's. The ability for NFT's to be sent between different crypto networks is being talked about (maybe even doable between certain networks. I may be behind on this.) I am seeing people who couldn't rub 2 pennies together a year ago becoming millionaires. It got be back into graphic design after a 7-8 year hiatus and has me writing new music material. Be careful through, these things can take over your life if you don't watch out. I found it becoming an unhealthy habit and having to limit my PC time.
Anyways, I usually don't write often and my stoney buzz is wearing off so I think I shall cut this post...
But first...
NFT's have evolved so much in the past 6 months. They are gaining traction in the mainstream and with huge influencers. They can do almost anything you can imagine. I believe NFT land is not just some crazy crypto fad. NFT's are here to stay and I personally believe the space is going to keep growing, and rather swiftly.
NONE OF THIS IS FINANCIAL ADVICE. I WAS BORED AND FELT LIKE WRITING SOMETHING :):):)