What is NFT?
NFTs turn your digital assets into ""one of a kind"" by creating a unique digital signature and that can be bought and sold for real money, cryptocurrency or NFTs.
How NFT works?
NFT creates a blockchain-based digital certificate for your digital collectables, including games, music, art etc. This certificate gives your artwork a unique identity.
The technology Used
The Underlying technology and the programming language used by NFTs are the same as other cryptocurrencies ie. Blockchain and the programming language Ethash or Scrypt.
Cryptopunks is a remarkable example of NFT, it enables you to buy, sell and store 10,000 collectables with the proof-of-ownership being stored on the Ethereum Blockchain.
Engaging in NFTs
Jack Dorsey sold his first tweet ever as an NFT for over $2.9 million" .
Vignesh Sundaresan, aka "Metakovan," bought 69.3 million dollars worth of NFT art on Beeple.
Bollywood in NFT
Bollywood stars like Amitabh Bachan , Kamal Hasan and Salman Khan are coming out with their own NFTs. A.R Rahman also mulls to come with his sound track soon.
Perks of NFT
This popularity of NFT creates opportunities for new art platforms, motivating people to buy art from internet platforms and promoting copyright of digital assets.
Future of NFT
Experts predict that 40% of new crypto users will use NFTs as their entry point. NFT could represent a more significant part of the digital economy in the future.