Why so much hype?
Many celebrities have begun to notice the NFT market. Art collectors have amassed small collections. Property owners are discussing the benefits of tokenization with their lawyers. Marketplaces for exchanging NFTs are growing, with more auctions occurring weekly.
Interest has grown in digital artists, such as Beeple, and NFT auction houses, such as OpenSea. Television personalities like Mark Cuban are advertising their NFTs. Individual NFTs are selling for hundreds of thousands of dollars. In all, the industry is growing and maturing alongside a booming market in crypto generally.
- Unlike bitcoin or other cryptocurrencies, NFTs cannot be directly exchanged with one another.
- NFTs are not interchangeable — even NFTs on the same platform, game, or collection.
- ERC-721 is currently the most popular standard for deploying an NFT; these tokens can be purchased in Ethereum transactions and are secured by the world's second-largest blockchain.
- Owning an NFT means you own something unique, irreplaceable, and provably scarce.
Are you interested in NFTs? Hit reply and let me know. Although I cannot and would never recommend any particular token, I would be interested in learning what YOU find valuable. Have a great weekend!
Click to tweet the following text (you can edit it before sending): Here is a basic explainer of non-fungible tokens (NFTs) if you're interested in artwork, property, collectibles, tokenized assets, or anything ERC-721 and ERC-1155. Full story at https://inside.com/cryptocurrency @Inside