3 reasons why NFTs are the future of creative projects
Maybe you have heard about Non-Fungible Tokens or NFTs but you have no idea what they are. I'll give you an example. The first NFT in history was a meme called "The Disaster Girl." Her creator, Zoe Roth took a picture of her daughter in front of a burning house. And the photo went viral. If you see it you will recognise it. It was sold for $500,000
What are NFTs?
They are unique digital identifiers that cannot be copied or substituted, are recorded in a technology called blockchain, and are used to certify authenticity and ownership. This definition may sound Chinese to you.
Today, if you are a content creator, for example, an illustrator, musician, influencer, etc, it is possible that your work is not in a physical format but it’s digital. Maybe you have shared it on the internet. Imagine that your creation goes viral. A lot of people have shared and used it. This creation begins to transcend just as has happened with other outcomes such as Harry Potter by J.K Rowling or the Rolling Stones. While these great artists took years to become popular, in today's society this could happen in a matter of days or even hours.
At present, artists who share their work on Social Media give their rights to the platforms and this is a big problem since it makes earning money difficult. Thanks to NFTs and the technology that supports them (Blockchain), an artist can certify his work and own it. Creators won visibility thanks to Social Media. But at the same time, have more problems earning a living.
In addition, society is changing and some people no longer want to have a painting in their living room, but they want to use an artist's illustration as an Avatar on their Social Media profile
Investors have also entered the age of NFTs. The role of the art collector, who invests in pieces of art and then resells them at a higher price, is similar in the digital ecosystem. Picasso, for example, is valued at millions. In the NFTS age, works such as the Crypto Punk series created by the American studio Larva Labs were sold using 68 Ethereum ( a popular cryptocurrency) which was equivalent to $258,400. In addition, this price continues to increase.
As always, people are still reluctant to technological advances. But, from the point of view of a creator, it can be a solution to earn a living.
Share your opinion about NFTs
As an amateur creator, I have my own NFTs too. Visit my gallery
Bibliography
NFT definition on Wikipedia: https://en.wikipedia.org/wiki/Non-fungible_token
Disaster Girl meme on Wikipedia: https://en.wikipedia.org/wiki/Disaster_Girl
Crypto Punks History on Wikipedia https://en.wikipedia.org/wiki/CryptoPunks