March 22 2021
NFT's have been dominating headlines ever since the offer of 70 million dollars for the beeple "Everydays: The first 5,000 days" collage of artworks. Companys and celebrities alike show their support. This week Jack Dorsey sold a Tweet for over 2.9 million dollars. 😳. Mark Cuban is talking them up and Elon Musk is singing songs about them. But What are these cryptographic assets and should you get some?
NFT's.
Now lets start with the basics. NFT stands for non-fungible token . Thats the opposite of a fungible token, which is something interchangeable that holds the same value. A dollar in our world or a bitcoin in the digital world. 1 dollar will always be worth the next 1 dollar. Thats why NFTs hold value in their uniqueness and rarity. the realm of digital data that NFT's can cover is a wide range of digital items from music, art, videos, JPEG, tokens, avatars and even in-game items. NFT's represent unique creative digital data on the blockchain. They can be used track sales, ownership and even how many copies exist. NFT's will change the marketplace of many business models, in the music industry, distribution, art, and so much more.
Stocks go crazy.
Companies associated with non-fungible tokens have soared this month. While other companies have taken interest to engage with NFTs. The rush to invest in NFT stocks follows retail investors departure from popular 'meme' stocks. One company in particular brought me here today, due to enormous bullish run. This stock surged like no other. And unlike Motley and friends i wont even charge you foe the symbol 😊. Ticker symbol- TKAT . TKAT stands for Takung Art company. TKAT is a online exchange for art dealers and artists for digital artwork. (Sounds familiar) Takung Art Company has SOARED over 800% in less then 5 days. Hardly trading at 6$ prior its run, TKAT closed at 49.00 after setting record new highs eariler today. Most of its spectacular gains are running off pure speculation, but its not hard to draw the line from where the company stands at now. The company ,TKAT, offers online listings of exclusive art. Investors, art brokers, and artist all seemingly use the platform. Recently a piece of art sold for millions. Investors thinking and making the jump to the NFT space doesnt seem like a far leap. There are many other stocks have also seen heavy gains on. NFT speculation. SINO, ZKIN, and OCG to name a few. NFT's are making alot of noise, with the apparent goal of blockchain disruption. NFTs seem like there here to stay for the time being. Investors are going with speculation that getting in early on NFTs could be similar to catching bitcoin in the early days. NFTs have been all the talk in my discord groups as well, seemingly starting to seep into every corner they can.
This article is for entertainment and informational purposes. This is not financial advice and i am not a financial advisor, invest at your own risk.
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