If you come up with a really cool digital sticker idea, what are you going to do? Sell it on the iMessage App Store? No way.Īlso, NFTs have a feature that you can enable that will pay you a percentage every time the NFT is sold or changes hands, making sure that if your work gets super popular and balloons in value, you’ll see some of that benefit. You might be interested in NFTs because it gives you a way to sell work that there otherwise might not be much of a market for.
That really depends on whether you’re an artist or a buyer.įirst off: I’m proud of you. With digital art, a copy is literally as good as the original.īut the flex of owning an original Beeple… Whoever got that Monet can actually appreciate it as a physical object. This last sold for $3,600, but the current owner is asking for $16,300. NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art. What’s worth picking up at the NFT supermarket? It is worth noting that other blockchains can implement their own versions of NFTs. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. You gave up a Squirtle, and got a 1909 T206 Honus Wagner, which StadiumTalk calls “the Mona Lisa of baseball cards.” (I’ll take their word for it.)Īt a very high level, most NFTs are part of the Ethereum blockchain. If you traded it for a different card, you’d have something completely different. A one-of-a-kind trading card, however, is non-fungible. For example, a bitcoin is fungible - trade one for another bitcoin, and you’ll have exactly the same thing. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else.
Okay, let’s start with the basics: What is an NFT? What does NFT stand for? You might be wondering: what is an NFT, anyhow?Īfter literal hours of reading, I think I know. And by the time we all thought we sort of knew what the deal was, the founder of Twitter put an autographed tweet up for sale as an NFT. There’s nothing like an explosion of blockchain news to leave you thinking, “Um… what’s going on here?” That’s the feeling I’ve experienced while reading about Grimes getting millions of dollars for NFTs or about Nyan Cat being sold as one.
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