Are NFT'S Good?


To establish a good understanding of an NFT, let's start with what an NFT actually is. NFT stands for Non-Fungible Token. Fungible means "able to replace or be replaced by another identical item; mutually interchangeable." Non-Fungible things are things such as A House or a Painting, but NFT's are basically a digital certificate of ownership exclusive to the highest bidder/buyer. 

Coming from an Artists perspective, NFT's are opening the door to so many opportunities in the Art space for artist's to actually earn a far more decent living than before. When I was a college student doing commissions in my dorm, I was payed on average 35-50$ a piece, now when i look on sites like Rarible and OpenSea, I can see thousands being spent on art from amateur to professional artists. This is an amazing evolution of the art space and is opening it to being a more pursuable career than perviously. It also opens the door to Video editors, Animators, Editors, etc...... This is giving a huge boost to the art community as a whole

Coming from a Crypto Investor's perspective on this, It is huge for mass adoptability and could open the door to incorporation into far more markets than just art. Having the art community at large be using Crypto as a primary payment method that could even transition to just basic commissions rather than buying an NFT. 

I have heard a few complaints around the internet like: The fact that both Bitcoin and Ethereum are both heavy carbon polluters. While those complaints are valid, it is also to point out that this is not a problem with NFT's but rather Crypto as a whole because NFT's can easily transfer to a BSC system.

This is a very interesting technology to deep dive into, I should be having a new article on sunday about this. For the final answer, Yes, They allow for a lot of opportunities for low-income artists to be millionaires overnight and allow for a far more integration in our normal life. 

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TheWriterWhim
TheWriterWhim

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