NFT: Trend or hype? A little more understanding of non-fungal tokens – Review

You’ve probably heard of one of the new hype in the digital world: NFTs. These non-fungal tokens, back in non-fungal tokens, have become more and more popular on social media. The boom has led to a huge influx of celebrities after investing in a number of celebrities. Neymar, for example, paid R $ 6 million in an NFT from the Bored Ape Yacht Club collection in early 2022.

As this becomes more and more common, it is important to dig a little deeper into the subject. After all, is NFT crazy a trend another hype of the digital age? I’ll tell you what I think about that.

To begin with, what is NFT?

A non-fungible token is a cryptographic token that represents something special. However, unlike cryptocurrencies like Bitcoin and many other usability tokens, NFTs are not interchangeable.

And what does that mean? One fungible item, such as money, can be exchanged for another. One ticket can be exchanged for another of the same value, or even for others of the same value. However, NFTs are like unique, precise, and individual “works of art”. So irreplaceable.

But is that all? No, they are used to create the idea of ​​a verifiable digital shortage. Thus, the possibility of exploiting assets as digital property and through various platforms. That is, they are used in many applications that require special digital elements to access NFTs, such as cryptographic art, crypto collectors, and crypto games.

Tendency? I think not!

Sounds like an interesting idea, but treat it as a long-term trend? I think not. And some of my favorite points to note are that we need to pay attention before we bet on a hype.

Principles to consider about NFTs

The first point is to understand what he is talking about. After all, you don’t have to trust them to talk about everything that comes out of someone’s mouth. NFT hype has tried to talk about a lot of characters, and with that, everyone is trying to be a bit of an expert.

Another account is that it was rare for those who took technology early and created it to conquer the market in the long run. That is, one who takes a trend at the right time lasts a long time, among many other aspects.

Demystify potential applications of NFT

Some say that NFTs are a new way of making art. Art is art, which means that any form of expression can have an artistic connotation, if that is the author’s intention. However, we know that the artistic factor alone is not enough to justify all this fuss.

Another aspect is the issue of access and exclusivity. There are already millions of other ways and technologies to ensure exclusive access to those who are willing to pay. So far, nothing new.

Another myth that attempts to justify this horror is its use as an official property document. However, in an online scenario this may work, but trying to justify this property to the government is like nothing.

Finally, a question that includes the topic and one that I want to clarify once and for all: NFT has nothing to do with Bitcoin! Cryptocurrency has so much power because it is decentralized, unlike the others. So that’s why while Bitcoin shows its growth potential, other cryptocurrencies have zero in the long run.

NFT? Don’t force yourself so much … be careful with ads

Yes, it is true that NFT is growing right now, and we know that everyone is talking about it all the time. However, care must be taken. After all, who are you talking about? What are some of the issues that you may be facing?

This does not mean that NFT will not be established in the long term. But for now, it’s important to understand the raw truth, because maybe not everyone speaks. In other words, don’t force so many into thinking that NFTs will be the trend that will regulate the market from now on. Seek to understand all aspects of what is always emerging, to better understand whether it is a long-term trend, or a momentary hype.

In his exclusive training with the InfoMoney copy team, Rocky Vega reveals the secrets to writing as a professional copy in a short time.

Leave a Comment