NFTs 101

A Brief Overview

Mohamed Bitar

Last Update vor 4 Monaten

NFTs, short for non-fungible tokens, are digital collectibles that have taken the digital world by storm. Celebrities such as Eminem & Snoop Dogg have jumped on the bandwagon, launching their very own NFTs. Tech enthusiasts and millennials have been investing in NFTs as well, despite the fact that the market is very niche. 

Still, NFTs are selling at incredibly high prices, so that's got to count for something right? So you may be wondering, what makes NFTs so special? 

NFTs are unique assets that cannot be replaced, just like original paintings by famed artists such as Leonardo da Vinci. Yes, his Mona Lisa painting can be copied or replicated, but nothing will ever come close to the original. Original is authentic. Original is expensive. 

NFTs are crypto assets that can take the form of virtually anything - from songs to movies to social media posts. In fact, did you know that Twitter CEO Jack Dorsey’s first tweet NFT sold for an equivalent of $2.9 million? 

NFTs are huge in the crypto space and their unique features give them endless value in a world where value is everything. In fact, exclusive access to some events requires attendees to be token holders, imagine that! This is the case with the Bored Ape Yacht Club collection. Token holders are granted free access to exclusive events and parties, attended by some of the biggest and brightest celebrities - all of whom believe in VALUE. 

What about ownership? 

With every NFT purchase comes a unique and non-interchangeable unit of data that is stored digitally and can identify owners through the use of blockchain technology. So by purchasing an NFT, you are becoming the owner of a digital collectible that holds value. You have a digital file and proof that you own the token, and that's all you really need to make millions - if you get the investment right.

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