What is NFT?

Ashley wants to exhibit her paintings online but is worried that maybe the platform is not secure enough since people can copy her painting as it is easy to replicate her works without her getting the credit. This scenario is very common online. This is where NFTs or Non Fungible Tokens come in. But what is NFT as some of you might ask? What does it do? Does it have any value? What is the connection of Ashley’s online painting with NFT? 

NFTs, What is it for?

NFTs are unique tokens that are linked to a digital content that provides proof of ownership. You can buy NFTs for your assets, may it be, an artwork, music, or an item in an online game. NFTs are trustworthy, easily transferable, and also maintain your ownership rights in a digital content. You may eventually buy or sell your digital asset and turn it into real money or cryptocurrency or any NFT. 

Non-fungible tokens are not interchangeable, even if the content is being copied, it won’t be authentic, and it can’t be replaced with something else. NFTs contain specific information like the owner and seller or basically a certification that shows authenticity that is stored in a blockchain. For example, you traded a 1986 Michael Jordan basketball card for a 1986 Fleer Karl Malone Rookie card. It is still a basketball card but it is totally different from what you originally traded for. 

Why are they Important?

Since we now live in a digital world, most transactions are made online. From your online shopping, paying bills, and even buying a property. NFTs are important because it keeps the information of the item authentic.  

NFTs are the new way of artistic expression, allowing artists, brands, and companies to provide authenticity in the growing digital phase. Any digital item can be bought or sold in the NFT marketplace . The digital assets of an NFT can be duplicated easily by searching it on the web, copying, and pasting, and voila! Others can claim a digital asset such as an artwork as original but the actual ownership is actually imprinted in the blockchain. 

Conclusion

As for Ashley’s case, NFTs play a big role if in any case, she might want to sell her paintings online in the future. She has the proof of authenticity after all. In the digital world we live in now, it is best to be safe from the things we buy online. Some of us need proof of the originality of the item, especially if you’ll pay a hefty price. You might want to consider buying NFTs for the future. You’ll never know what the future has in store for us. To know more about NFT and whatnot, check out Silva Digital and see the future right at your fingertips. 

 

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