NFT´s: My Vision.
Most of the cryptocurrencies that we know were created to be fungible (FT), that is, to be exchanged between them, it is even possible to exchange fractions of a cryptocurrency for its equivalent of a different one.
Source
In the case of Non-Fungible Tokens (NFT) we should conceptualize them as a single piece, which cannot be fractioned or exchanged for any other cryptoactive.
A very common way to appreciate them is to compare them with a work of art, where it is precisely in their reason for existing that their true value lies, in their uniqueness.
Initially, the NFT's had their first appearance in some video games like "cryptokitties".
In other video games, users could obtain special achievements, "weapons" or "powers", characteristics that would empower the characters, these would be representations of NFTs.
Intellectual property
NTFs were very innovative by providing a method that allows registering the intellectual property on an asset, keeping it permanently and securely in the blockchain, so its metadata, property and all transaction records are transparent and cannot be destroyed or tampered with.
What good is an NFT if it can't be sold?
It can actually be sold, as long as someone is willing to pay for it.
An asset acquires monetary value when it represents operational, emotional or any other value for any person, company or organization, transcending into a representative element of development.
Currently it is possible to create a non-fungible token from the representation of some physical or intellectual property, in this way, a company, for example, could represent its assets, which could be revalued and be transferable, auctionable and even inheritable in the future.
The tokenization of real assets, found a new niche in the NFTs.
Source
The Real Madrid soccer team launched a line of collectible NFTs with the images of their players. Some of these cards have been sold for thousands of dollars, as in the case of the player card, Kylian Mbappé's unique card, which was traded for $ 65,694.
Conclusion
Is it possible that the new era of NFTs can surpass the achievements of DeFi?
Many experts believe so. The volumes of capital mobilization reached by investments around NFTs have broken many records and reached unthinkable levels.
The tokenization of assets can cause the revival of different industries, such as music or art for example. A musician or painter can trade his work through peers without relying on a middleman.
Time will define the future, the unimaginable is about to happen once we start tokenize anything.
@juanmolina
About Us
JOIN OUR Discord
Web Site | Telegram | Discord | Instagram | Twitter | Facebook | Youtube
It is possible for artists to benefit from this technology, especially in countries where piracy prevents them from capitalizing on their creations. On the other hand, this technology can be applied to many industries that are managed by powerful industrialists who do not allow small artists to emerge, the best example being the music industry.
Hello, @trabajosdelsiglo.
I agree with you, for small artists this could be a great opportunity to give them true monetary value beyond what the commercial market could offer.
Thanks for reading and commenting.
It is not out of the question to tbh. NFTs like NBA topshot, SPlinterlands and many others are taking the internet and collector game by storm.
I don't think it will overtake DeFi because that's a totally different ball game but I'm sure it will revolutionise Art and gaming industry
You are right, I believe that the field of applicability of NFTs is less than DeFi, for this reason DeFi will dominate.
"NTFs were very innovative by providing a method that allows registering the intellectual property on an asset."
I think this is huge! The intangible asset side of intellectual property is worth almost $6 trillion globally. That does not include products to market and supply chains. Which you can probably double or triple that number.
Great post @juanmolina.
The market for intellectual property is huge. We will have the perfect combination when we can tokenize everything.
There is still much to be developed in the market and the possibilities of using NFTs.
Time will tell.
NFTs will change a lot of things ... they will become a huge market
In fact, the NFT market is growing exponentially. Much remains to be discovered about its applicability.