NFT: The New Crypto Gold

NFT is known as Non-fungible Token

I've been really looking into #NFT at first I totally didn't get it. And then I realized that I was only looking at how people were currently presenting the technology. Once I really felt into the opportunity it started to get super clear to me.

At its heart an #NFT is an easily executable contract that is also easily transferable.

This means that you can make a contract for an almost unlimited number of things. An example that comes to mind this morning is this.

Let's say that the nft represents a ticket at a concert. You want seat 7c? You buy that NFT. Can't go to the show put it up for resale. You put it up for resale and the artist can get a commission on the resale. Win-win.

Now the artist can offer a backstage pass. Or a meet and greet or dinner with the artist. People can bid on them oh, the winner can resell it. All super easy, fast, and no longer requiring Ticketmaster to be involved

Let's say that something cool gets put up on offer like dinner with somebody famous. You win the auction for that. But you realize that the famous person didn't do a really great job marketing that opportunity. So now you Market the opportunity and you benefit from your ability to reach a community that is excited about that opportunity

NFT seems like it's just a JPEG at first but it's actually huge the different ways that it can be used and the opportunities it represents for easily interacting with other people.

And even if it is just a JPEG, I personally love seeing and buying art, supporting artists, that I never would have been exposed to without the marketplace and knowing that the money is going to directly to the artists involved. Some of those artists live in countries where a few tokens probably represents a considerable impact on their daily life. And there's no way they had any chance of selling their art to me in California before NFTs

I mentioned before that I have a background as an art gallery owner. And that I have represented many artists over the years. Yesterday I helped one of my artist mint his first NFT. It was very cool. This week he's going to be working on some designs that specifically incorporate crypto imagery that I think you will get a kick out of.

Honestly, I feel like this nft thing is as revolutionary as crypto in general and even along the lines as revolutionary as the internet starting up. I think it has so much potential to completely change the way we do things

NFTs are based on #blockchain #technology, like #cryptocorrency is

The fabric that allows #NFTs and cryptocurrency to exist is the blockchain technology which is basically unhackable internet

Blockchain is so much more than cryptocurrency