Just as the valuation of art is subjective, NFT values are somewhat subjective as well. It's a growing market with a lot (and we mean A LOT) of use cases.
The tweet on the left is just one of many examples of people making huge profit with NFTs. Who doesn't want to turn $144 into $25k in less than two weeks, with legit proof?
Proof of ownership can be taken to other industries too. Today, the blockchain is just verifying that you own a JPG, but what if it could verify ownership of:
All publicly available to see, but not to alter. That's the beauty of NFTs and blockchain.
This is just a flex collection page of our NFTs. If you want your own, go to HLGB's Opensea.
Just like art, our bears are to be seen, not touched.
But...
Non-fungible tokens are a way to represent the ownership of an item on the digital (or physical) world. These tokens have only one owner, and that ownership is validated on a blockchain (the most common one being Ethereum).
Historically, the management of digital rights and digital ownership was difficult. You can make a unique work of art in your PC, but anyone may copy/paste it and claim it as theirs, if they find the file online. Attempted solutions include the use of watermarks in photos and videos.
NFTs come to bring a different way of giving ownership to people, and rewarding creators — based on blockchain tech.
