Non-Fungible Tokens (NFTs) — What are the Crypto bros on about?

What do they mean?

Non-fungible Tokens (NFTs) are all the hype online right now. While cynics think they’re a pipedream for the average Twitter user who got lucky, the data says otherwise.

Okay that’s what they mean. But what are they?

Great question. To put it simply, an NFT can be anything in the digital world. That’s right, anything. They range from digital art to weird photos of cartoon apes to music tracks, to items within video games and so much more.

Source: Crypto Lisa by Bryan Gersalia

So from what I’ve read so far, NFTs are only for yacht-owning collectors?

Nope. It does pander to the whales as well but the core principle of NFTs is that it’s all about community.

Source: Post Modern Renaissance

That does make sense, but I heard something about apes and more stuff about Jake Paul and kittens?

Alright to set things straight, some NFTs are quite…. out there. Addressing the elephant in the room first, Jake Paul released his Youtube videos (yes) and Pokemon cards of himself for up to 20,000 USD (Trust me we’re as surprised as you are but hey, to each their own).

So is there some potential for NFTs to truly make a positive difference in the real world?

Absolutely. Decentralization of control and finances do worlds of good for people in various industries including game developers, musicians, artists, etc.

Thank you, but I think I’ve read the word NFT enough times today…

We don’t blame you one bit, it is a lot of information to take in. Just wanted to spread the word that there is a lot more to NFTs than just the memes that you come across on social media. They’re here to make a difference. The positive influence they can have on the world is there for all to see and quite a few to feel already too.

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A deep-tech studio building products and startups for the Metaverse.