It is mentioning a lot lately.
Recently, the concept of NFT has started to be used frequently in art, sports and other fields. So what is NFT? As for the question; In short, we can say that they are unique digital assets. The expansion of this concept is known as "Non-Fungible Token". It represents many digital assets, from virtual game content to virtual shoes and digital properties. NFTs are usually produced with Ethereum token standards using Blockchain technology. But like cryptocurrencies, they are not traded in the ERC-20 standard, but in the ERC-721 and ERC-1155 standards. With the development of technology day by day, the number of people who want to have digital products has increased considerably. It is stated that more than $175 million has been spent on NFTs in the last 4 years. The supply-demand relationship is valid in NFTs as well as in all valuable assets. Due to the uniqueness of these digital assets, the products sold are collector's items. For this reason, their values are very high and I believe they are having a bubble crisis right now.
What Makes NFTs Valuable?
NFTs contain unique information and are easily accessible, revealing the advantages of owning a product digitally. By preventing counterfeit products, all detailed information about the authenticity of digital assets can be obtained. Unlike cryptocurrencies, NFTs are not interchangeable. The uniqueness of all NFTs ensures that each has distinct characteristics. Thus, the two entities are prevented from being equal. These digital assets allow artists to produce. Recently, it has become possible to see NFTs in many art exhibitions. When we look at the other features of NFTs, some of the NFT features are that the products cannot be reproduced and fragmented, there is no such thing as deletion or modification, and the authenticity of each product can be controlled transparently.
Please comment to me about, I would like to discuss these topics with you... when are we going to see NFTs as an art form? Or is it an Art form rather than a great investment?