NFT

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3 years ago

So-called NFTs are the new craze. These are fairly normal tokens that are primarily distributed on the blockchain of the Ethereum. The real special characteristic is that each of these tokens is distinctive. Therefore, one can talk about a particular digital specimen here. NFTs have created quite a bit of discussion. Such a token may be unique after all, but it is typically easy to replicate what is associated with it.

Nft’s are unique

The painting has very particular characteristics that make it a rare piece of art when you purchase an oil painting. You may try to replicate such a piece, but the original ultimately has physical features that can not be replicated. This includes the painting's age, canvas, and much more.

It's not always so easy with a digital image, because for the machine, it's a data set and it can be duplicated at will. This is where the NFTs come into play, since a very particular picture is firmly associated with them. In this way, an uncommon value may also be given to digital trading cards. In theory, to certify its validity and mark the owner of the token as the owner of the object, such a token can be associated with any object.

For digital products, however, this approach is better adapted, precisely because there is no other method that would be accurate.

The market is booming for digital art and NFTs. Small artists sell crypto-currency GIFs and 8-bit art and the buyer gets a copy and a coin. Critics note that the image can be duplicated at will and, thus, it is of no value at all to get a one-time token to go with it.

To some degree, the fact that NFTs are not specifically related to the possession of a picture stands in their way. The argument that there must be a way to make digital content special and that NFTs are the expression of that uniqueness is opposed by proponents of NFTs.

Apparently, this view is gaining momentum because any kind of content should also reflect individuality in an increasingly digitized world. The fact that collectors are prepared to pay hundreds of thousands of U.S. dollars with a token to buy a digital art work demonstrates that the trend has been created.

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