No products are in your cart.
What exactly is an NFT??
NFTs, also known as Non-Fungible Tokens, are a type of a digital asset like art, music, video games etc. They are bought and sold digitally. For example: When an NFT is sold, the creator in return gets some amount of commission in the form of cryptocurrency.
As with physical collectibles such as baseball cards and toys, there’s a market for NFTs. The buyers tend to be tech-savvy individuals who understand the idea of wanting to purchase digital goods.
“Specifically for art-related NFTs, there is a huge surge in demand due to their novelty and creativity of early artists,” Jason Lau, chief operating officer of crypto exchange OKCoin, said in an email. “Whether it’s a physical work with an attached NFT (think of it as a digital autograph and proof of veracity), or an entirely digital work (where the NFT is the art), this new medium is opening new ways for collectors and artists to explore their relationship with the artwork itself.”
It’s also great for the artists, says Lau. By selling digital art directly to those interested, an artist can begin monetizing work without having to try to sell it in a gallery.
For your convenience, here is an excellent resource on all things NFT – https://ethereum.org/en/nft/