This article has been translated from our Spanish version using AI technology. There may be errors in this process.
It seems that NFT Everywhere you look today, the tide of protectionist sentiment is flowing. And although last year Collins Dictionary named it the best word of the year, the reality is that most people still don’t know what they are.
According to a study conducted by Money Magazines and Morning advice , Only one in four Americans can accurately explain what NFT is. Of the 2,210 people surveyed by the publication, 35% had a vague idea of what non-fungible tokens were and Only 26% were able to explain exactly what they were and how they worked .
What is NFT’s and how do they get their value?
NFT means Non fungible token , I.e., crypto assets that represent something unique. A non-consumable product is a product that does not decay, is not replaceable, and is not replaceable. Imagine a work of art in the physical world, a unique part that cannot be repeated or replaced by another. But the NFT goes further: they Can be audio, video, text, image or compressed file . Although it can be complicated to understand, NFT has its roots and values Digital Certificate Which lets one prove the authenticity of the work. These digital assets are recorded for sale Blockchain or blockchain Contains information about the ownership of the pieces and the value associated with them and the history of the transaction. NFTs are unique in that they are unique, indivisible, transferable, and can be shown to be rare. To create an NFT you need to “mint” it, that is, convert it into a digital asset in the blockchain, which can be done in some NFT marketplace openness, Nifty Gateway and Rebel.
We see NFT more frequently as part of this Technological marketing Strategies that develop brands. Universal Music, for example, is already forming a virtual music band based on five characters from a popular collection called App. Bored App Yacht Club And 10,000 unique pieces (some of which are owned by celebrities like Madonna, Jimmy Fallon or Stephen Curry).