NFTs are the new star of the show in digital investment opportunities. These non-fungible tokens are used as authentication certificates for any digital file, which gives creators, collectors, and investors an avenue to prove creation of the file and current ownership. Not only does this simply provide a bit of security and recognition for easily copied digital work, but it means that the original files have an undiminishable value.
Owners of NFTs can use these files as their profile, post them, or sell them for a lofty price. For instance, Jack Dorsey’s digitally autographed first tweet sold for 3 million dollars, and that’s not even close to the biggest sales for NFTs. Digital work, “Everydays: The First 5000 Days” by artist Beeple, sold for 69 million dollars. Thankfully for artists, NFT certificates can also provide them with a portion of the profits for each NFT sale of their digital artwork.
In our digital world, it just makes sense that digital art and other valuable files should have a method of authentication.
Infographic by: expensivity