WTF is an NFT?
Fer Caggiano NFT Art Launch
First of all, WTF is an NFT?
Non-fungible-token. Okay… but what does that mean?
"A non-fungible token is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files." - Wikipedia
My first impression of it was that it sounded like an absurd idea. Why would anyone buy a digital token? However, after watching several videos, I now understand the fuzz, am much more enthusiastic about it and am eager to get started.
From the artist's point of view,
the most exciting thing is that you set a royalty percentage for resell, which usually goes for 10%. This means that when your art is more valuable, and investors are reselling, you will continue to get 10% on each resale as the token is digitally assigned to you as the original creator.
I have never actually thought of this until I heard a collector speak. Some people love art and want to support us artists, and yet, they have no place to hang the art nor want to bother doing that. They just want to appreciate it and feel good about owning it. Investors. They are making BIG money on NFTs right now. It is all about observing the up and coming, buying, and reselling at the right time. It is almost like the stock market. I am sure there are many games involved in this (and it could possibly explain some of the insane values in inexplicable NFTs).
Still not sure about it? Well, I have kids,
and I see how obsessed they are about their Minecraft skins and other digital prizes they eagerly collect. The future is digital! And I go as far as visualizing homes with digital displays rotating a curated exhibition of their NFT collections.
Ready to invest in an up-and-coming NFT artist? Visit my profile on Opensea. I am already well established in the "real world." I am confident my art will make it large on NFT too. Plus, I am always sharing part of my proceeds to causes I believe in, so when you support my art, you also support amazing projects like the reforestation I sponsor in Brazil.
You can collect my iconic "I Don't Give A F***" and with this NFT I am actually sending the original painting.
At this point, NFTs are sold on crypto only so prices are in ETH (they always show the US$ value in brackets for reference)