Have you heard of NFTs?
Sure you have! In the last few months it has been a topic that has been gaining relevance little by little.
But to make things clearer, let us explain what an NFT (Non fungible Token) is.
It is a tokenized version of an asset, where they can be digital assets or versions of real-world assets. A bit confusing? Ok... let's go with another definition: They are those tokens that represent an asset, these assets can be digital or not (This definition is kind of simpler, isn't it?).
NFTs are used to represent non-fungible assets such as artwork, real estate or collectibles instead of a fiat currency.
And yes, although it sounds a bit crazy you can have a token representing that asset. Most of the use cases for it are:
Art: You can buy someone's art and with the blockchain you can have proof of ownership.
Games: You can buy the most coveted items in online games.
Collectibles: Here you transformed collectibles like baseball cards, coins and stamps into 21st-century collectibles as you can buy tokenized versions.
Real-World Assets: It is possible to tokenize things like property or real estate but the truth is that in this use case it is still at a very early stage.
There is even talk that NFTs will later be able to help us acquire things related to our identities such as educational qualifications or medical records. Because NFTs are not interchangeable with each other, they can function as proof of authenticity and ownership within the digital realm.
The truth is that the applications and use cases for NFT will be INFINITE.
What will be your first NFT?