Peju's Corner: Why Is There So Much Hype About NFTs

Are you surprise that i am talking about NFTs today. I am not a crypto person, BCH got me to start following the trends about the crypto world. All thanks to Bitcoin Cash for making me find interest on what i never regarded as something worth knowing about. So today i will be doing something quite different from other days, i visites my facebook account yesterday and almost everything that was popping up on my news feed was about NFTs. What's with the hype with NFTs, people were paying huge sum of money just to get an art of a baboon. For real, i can use some photo editing softwares and work on few projects that will earn me good coins. Is it that simple as i thought?

Until today i did not have any knowledge of what an NFT was. Anything i don't have knowledge about and i see people over hyping it, i will want to do some research about it. All thanks to the internet, i got the answers to my questions. So in todays article i will be making a short question and answer with myself to see if i can still recall the things i read about NFT on the internet. Atleast let me see how good i am incase i am been asked to talk about NFTs to newbies. After now, i'll still go back and read more on it.

Before i move on to the process, i will like to introduce the two persons involved. My neighbors son, he is 8 years old, intelligent, but does not have any idea about crypto or NFTs. I tried to explain the little i know to him, how an art of a monkey can be bought for a thousand dollars. He was just surprised on hearing this. I gave him the questions he will be asking the inteviewee. And i am the interviewee. So lets begin......

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Interviewer : Sammy

Interviewee : Pejudear

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Tell me what you know about NFT?

Before i explain the little i know about NFT, i will like to tell what NFT stands for..... Non-fungible token. NFTs at unique digital assets which can never be interchanged. NFT helps gives ownership rights to owners of digital assets, and this can be sold and bought for real fiats, and even crypto. NFTs give a very unique digital signature to a digital assest which defines its original owner. This signature gives digital collectibles a unique identity. With all of this happening around NFT, a greater part of the digital economy could be affected by it......i don't know if for good or bad. But i guess for good. It is really enhancing media exposure.

Where is the best place you think one sell or buy NFTs?

Not too sure of this for now, but the only place i know is OpenSea. Lots of users on my facebook feed were talking about this same platform, although i have not read much about them, and since they are the most talked about, i think they are the best marketplace for NFTs. From my research it is one of the largest marketplace for NFTs.

The hype is getting more and more everyday, what makes it special?

I don't know why i this question is on the list. Since i am yet to study more about NFTs, i can't really say anything for now. But just imagine i make an NFT, it could be an art of my dog or myself, the image is so visible for other people to see, and downloading it is possible. But someone still oblige to buy it from me. Why??? What is so special about the drawing?

This is what i am yet to understand. And i will find out what makes it special. Next question please.....

Are there any value attached to NFTs?

I think NFTs have value, not for me yet, but for the people that really know much about it. But i see great value in it because from the few information i got from the internet, they are validated by blockchain. Digital collectibles are store on the blockchain by just putting them on the largest NFT marketplace. I think that's where NFT has value, and even more. Making sense to me gradually.

I stand to be corrected on some of the points i have given in this article. I am not an expert on this, still a newbie who is eager to know more about what's trending. If you feel i have not done my best, please do well to advice in the comment section. I just want to get be with crypto, blockchain, etc..

Still on Peju's Corner.....

Lead image from HERE