I’m sure we all have heard of this new emerging art platform – NFT!
But do you know what it’s all about? Let’s try to explain to you as short as possible.
Well, NFT stands for non-fungible token. Non-fungible means “unique, can’t be replaced.” That means, if you trade for something, you’ll get something different back. NFTs are part of the Ethereum blockchain which is a cryptocurrency like bitcoin or dogecoin.
What can you sell as an artist at NFT? NFTs can be anything digital, like drawings and music. So, NFT is slowly growing into a platform to collect digital fine arts. The problem here is, digital files can be copied as many as you want, INCLUDING an NFT art piece! But just like a physical artwork, anyone can buy the Mona Lisa painting, only one person can own the original piece.
So, if you’re an artist, NFT is a way for you to sell your work! If you’re a buyer/collector, NFT allows you to financially support your favorite artists. You’ll have ownership over the work (which you can brag about.) Of course, you can also sell it for profit if the value goes up one day.
Now, this is when it gets a bit tricky, some people treat NFT like the future of fine art collecting; some people don’t… For instance, a 22-year-old made $1 million by selling his selfies.