NFTs
What are NFTs?
NFT stands for "non-fungible token", and is an identifier of sorts which is recorded on a blockchain. NFTs can be transferred, meaning they can be sold. Due to NFTs being inherently non-fungible (and therefore one of a kind), they can theoretically be worth a lot of money. NFTs are often bought and sold via marketplaces such as Opensea, as seen below.
How do NFTs make a positive contribution to society?
- NFTs allow artists to monetise their work in the digital space
- NFTs help keep energy companies in business, due to the energy requirements associated with the blockchain
- This keeps the mines open
- NFTs provide a great source of discussion and debate
- NFTs can be a great inspiration and motivator to people wanting to become blockchain developers
Notorious NFT Projects
Many NFT projects became very well-known, below are a few examples: