NFTs are probably the biggest trend of 2022. The media space is flooded with. The main trend news about NFTs. For example, the open-source NFT market was recently valued at $13 billion, a South Korean presidential candidate is raising. The main trend funds for his election campaign using NFTs, and so on. However, few people understand what it is and how you can make money from it.

 

NFT (Non-Fungible The main trend Token)

Something that is “irreplaceable” means that it cannot be replaced with the same thing. For example, $1 can be replaced with $1. And nothing can replace Leonardo da Vinci’s “Mona Lisa.” Because, as cliché as it may sound, this work of art is unique.

A token is a record of objects created on a blockchain. Blockchain, as you know, is a distributed ledger technology. Blockchain allows everything to be decentralized. Decentralization is the operation of complex systems according to special canada email list algorithms that allow to guarantee the reliability of operations in such a decentralized system. It prevents unauthorized changes.

For example, if you trust a bank to hold your money or the government, all the information is stored in one place and it is technically easy to forge it. learn how to set up google analytics and make the most of this measurement tool in your digital strategy Blockchain allows you to store all the information about all the transactions on thousands of computers in a way that cannot be deleted or created. An NFT is simply a digital twin of an object, stored according to the principles of blockchain.

Where do NFTs “live”?

Did you know that OpenSea, a powerful NFT platform, has long been competing with Zynga (an online game developer)? Its founders believed that the NFT market was built primarily for gamers. After all, it was important for gamers to be able to fight with “special” NFT swords, trade them with other players, or sell them. Zynga did not even bahrain leads imagine that NFTs could be implemented in any other way. But later it turned out that NFTs can be anything – images, songs, videos, and any other digital objects. Thanks to the broad view of the implementation of NFTs, OpenSea became the number one market in the world.

What can be tokenized and in what areas are NFTs used:

  • digital art;
  • sports;
  • game items: weapons, skins, characters;
  • any object in the virtual world;
  • business;
  • Real estate: proof of ownership.

Tokenization increases the value of any digital product

A digital asset is independent of the system it resides in. For example, you drew a picture or created a GIF that is circulating on the Internet. How can you prove that you are the same owner and author?

Thanks to NFTs, this is very easy. Create a token for the image and become its digital owner. Yes, everyone can see and download it, but it belongs only to you. As you can see, if you can verify the authenticity of a digital work, it is easier to sell it.  NFTs have allowed them to continue creating and doing what they love in the new digital world.