Today we're going to look at NFT tokens, which are all the rage on the blockchain. Introduced in 2017, NFT tokens are now starting to become an increasingly important part of the blockchain ecosystem.
What is an NFT?
A "non-fungible token" is a virtual object whose identity, authenticity and traceability are indisputable and tamper-proof thanks to the blockchain. They are mainly art or digital objects.
For some time now, NFTs have been growing in prominence in the crypto ecosystem, to the point where some works are selling for millions. Art is now much more virtual, with new generations having a much greater perception of the virtual world than their elders.
A potential market of over 1 billion dollars
The emergence of NFTs in 2017 led to the birth of Cryptokitties, the first platform dedicated to NFT tokens. Since then, Cryptokitties has seen its capitalisation in 2020 climb to $340 million, a 200% increase on 2019.
But the NFT market is at risk of a speculative bubble bursting, as the selling prices of some art objects are very high.
Some see a price correction coming, however the current high prices will be cheap within 10 years.
Artistic creation
NFTs are mostly dedicated to artistic content or collectibles. You can take part in the creation of NFTs via smartcontract, but for those who are not familiar with the technique there are dedicated platforms that simplify the creation of NFTs.
In particular Mintable.app which allows you to connect your Metamask wallet and then create your own NFT with the content of your choice.
You will then be able to sell your NFTs on the Mintable marketplace at the desired price and all this for free.
Friends of the cryptosphere and the arts, get into the NFT, it's for everyone.
Y.A for Blockchaincontract.io
