Crypto Questions: NFT’s — Fad? Or Future? — Bjorn’s Blog

Introduction

Chances are that if you were not constantly sleeping, that you have heard the term “NFT” lately. Especially now that bands like Kings of Leon are releasing a special edition of their new album “When You See Yourself” as an NFT, nicely called “ NFT Yourself “. Or Beeple, a digital artist, who has just sold one of his works as an NFT for 69 Million dollar !

But what are these NFT’s everyone is talking about? Let’s take a look!

What are NFT’s?

NFT stands for Non-Fungible Token, and they are digital collectibles. These collectibles can be just about anything, any unique tangible or intangible item, like a photo, a drawing, sports cards, virtual real estate, a song or album, or a skin or so for a game. They can be profitable to trade, or simply nice-to-haves. And maybe, due to the uniqueness, the nice-to-have can be worth quite a lot one day.

Unique? And digital? And what is this fungible about?

Typically, when we think of digital assets, we think of items that are easily copied or duplicated, which is a disaster for artist of all kind, and many other branches. Your friend bought an e-book in PDF format? Simply copy it and you can have the same one, exactly the…