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NFT craze - Where we are going? (Part 1)

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Written by   8
3 days ago

A few days ago when I was browsing the Binance NFT market, my dad saw my monitor and was pretty surprised. When I explained to him what it is about, he got more surprised.

To be honest the whole NFT thing still seems pretty crazy to me. So it must be something more than crazy to a 65 years old man.

Anyway...

I'm not into NFT till now. But I'm feeling a huge bubble inside my stomach to swim in the NFT world.

Why?

Because I believe this will be the future of the digital world.

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If you are not living under a rock then you already know what NFT is. If you still don't know then here's what Wiki will tell you -

A non-fungible token is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be associated with easily-reproducible items such as photos, videos, audio, and other types of digital files as unique items, and use blockchain technology to give the NFT public proof of ownership.

info source

Coming to the reason why I believe NFT will dominate the future is simple. The major reason is, it's the 'non-interchangeable unit' characteristic of it.

  • Every single day the amount of content we are seeing online and even offline, many are those facing copyright issues. NFT could solve this in a second. Till now there are only digital art forms/game characters but gradually all sorts of content will be associated with NFT for sure.

  • We officially entered into the era of Metaverse. No need to say that this will be connected/complied with NFT. Because Metaverse world would be like another reality and like any other game or whatever you name it, you have to own things there. NFT is the best possible solution for that.

I can talk about hundreds of other points why I believe NFT would dominate the market in the future. For now, it seems a bit crazy, how some crazy artwork is getting so much value. But think about it's not just that, it's a digital asset which you can sell, it's your collectible, you own it.

Moreover, it's in the crypto market baby. We all know that the new money is crypto and NFT’s gonna be the new digital asset we can own with our crypto money.

I have a plan to write on NFT, maybe another few articles, about its shortcomings, the risks, opportunities, and more. Keep in touch for the 2nd part.

Thanks for reading my post.

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