With NFTs, in some ways, they are like digital stickers that belong to you alone and can also be traded online. When you think about it this way: if only this one-of-a-kind drawing were made into a sticker so no one else in the world has one except for me. That’s the experience of owning an NFT. Digital stickers can be artwork, music, video or even tweets. The unique thing about NFTs is that, using blockchain technology’s coming of age together with machines on the Internet, it can show who owns the digital item. It is as if you have a digital certificate that says “I own this really cool thing.”
Take an artist who creates a digital painting for instance. Then, it can be turned into an NFT, bought and sold like stock by people, with because all those transactions are listed on the blockchain you can find out who owns it. One famous NFT is an artwork from Beeple, an artist, which sold for more than 69 million dollars. It sounds silly, right? But to the person who bought it, owning this unique digital artwork is just as valuable as owning a famous painting in the real world.
It’s not just art that’s being sold in the form of NFTs any longer. Musicians are using them to sell limited editions of their albums or songs. For example, the group Kings of Leon released their album as an NFT which offered special bonuses for those who bought the album in this way such as front-row seats at concerts. It’s a new way for fans to support their favorite artists and receive something no one else can get.
NFTs can encompass even tweets. Twitter founder Jack Dorsey sold his first ever tweet as an NFT for millions of dollars. To some it might just look like a tweet, but for the buyer, it’s a piece of Internet history. This shows that nearly anything digital can be an NFT, from artwork and music to the first words somebody spouted in cyberspace.
But why would someone pay so much money for a digital item? Owning an NFT is more than just owning a digital file. It’s a rare and unique possession in the digital world. It’s like owning a rare trading card or a limited edition comic book, only for the digital age. Moreover as NFTs become more popular, some view significance in purchasing them as an investment and hoping their value will increase over time.
NFTs bring new possibilities to the table when it comes to art, music, and ownership in the digital world. They allow artists and creators of all types to interact with their fans in ways they never could before, they offer people an opportunity to own unique digital items, and in some cases even change how we think about the value of digital content. As technology continues to develop, what other cool things might become NFTs tomorrow?
