NFT: Trend or Hype?  To understand a little more about Non-Fungible Tokens – Opinions

NFT: Trend or Hype? To understand a little more about Non-Fungible Tokens – Opinions

You may have heard of a new hype in the digital world: NFTs. These non-fungible tokens, translated into non-fungible tokens, are becoming more and more visible on social media. The boom came after a number of celebrities invested heavily in acquiring certain types of NFT. Neymar, for example, paid R $ 6 million in NFT from the Board App Yacht Club collection in early 2022.

As much as it has become commonplace, it is necessary to go a little deeper into this subject. After all, is the NFT craze a trend or another promotion of the digital age? I’ll tell you what I think about it.

For starters, what is NFT?

A non-fungible token is a cryptographic token that represents something unique. However, unlike cryptocurrencies like Bitcoin and many other utility tokens, NFTs are not interchangeable.

And what does that mean? One fungal item, such as money, can be exchanged for another. Banknotes may be exchanged for one of the same denominations or for others of the same denomination. However, NFTs are like unique, distinctive and personal “artifacts”. Hence, non-refundable.

But is that all? No, they are used to create the idea of ​​verifiable digital scarcity. Thus, the possibility of running the property as a digital asset and through various platforms. That is, NFTs are used in a variety of applications that require unique digital items for access, such as cryptographic art, crypto-collectibles, and crypto games.

Tomorrow? I don’t think so!

The idea sounds interesting, but treat it as a long-term trend? I don’t think so. And here are some of the ones I found to be interesting:

Principles to pay attention to NFT

The first point is to understand who is talking about it. After all, you shouldn’t believe everything that comes out of your mouth to talk about what you want to do. The NFT hype has made many personalities want to talk about it, and with that, everyone is trying to be a little more expert.

Another point is that it is rare for those who have adopted and created technology to win long-term markets. That is, the one who accepts the trend at the right time lasts longer with many other aspects.

Encrypt potential applications of NFTs

Some argue that NFT is a new way of making art. Art is art and it means that any or all kind of expression can have artistic meaning, if it is the intention of the writer. However, we know that the artistic element alone is not enough to support all this propaganda.

Another aspect is the issue of access and uniqueness. There are already millions of other ways and technologies available to guarantee exclusive access to those willing to pay for it. So, so far nothing new.

Another myth that seeks to justify this propaganda is related to its use as an official document of ownership. However, in online situations it may work, but trying to justify this ownership to the government is nothing.

Finally, a question that involves the subject and I want to clarify once and for all: NFT has nothing to do with Bitcoin! Cryptocurrency has so much power because it is decentralized, different from others. So, while Bitcoin is showing growth potential, other cryptos are leaning towards long-term zero.

NFT? Don’t force so much साव Beware of hips

Yes, it is true that NFT is on the rise right now and we know it because everyone is constantly talking. However, that is why we need to be careful. After all, who are you talking about? What is the interest in trying to spread the word?

This does not mean that NFT will not be consolidated in the long run. But for now, it’s important to understand the raw truth, which probably not everyone is talking about. In other words, NFTs are a trend that will regulate the market from now on. Always try to understand all the emerging aspects, better understand if it is a long term trend or momentary propaganda.

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