The NFT Phenomenon: Big Potential for Digital Art
26/08/2021
Non-fungible tokens (NFT) are the hottest new digital phenomenon. By the end of 2020, the market for NFTs, or unique digital objects, had risen 825% from 2018. The market is still young, though, and the world is just beginning to discover all the ways that NFTs – or nifties as they are known colloquially – can be used. One of them is collecting. Just as you would buy a Picasso, you can now purchase an original digital token. As an investor, you have three opportunities to turn an NFT investment in your favour: purchase an NFT directly, take part in its creation, or combine the two previous options. The Slovak company Artzenal focuses on the digitisation of physical objects, including their use for NFT markets. Crowdberry investors can now seize the opportunity to co-own this young, dynamic company and watch from the front row as the perception we have about digital art changes beyond all recognition.
What exactly are NFTs
A nifty can be anything created digitally: there are multiple formats: from pictures and videos, to collectible cards to digitised physical objects. The important difference from cryptocurrencies is that NFTs are unique, with tokens being created, in most cases, in one single copy and their uniqueness having to be registered on the blockchain. For example, Rome’s Colosseum has recently announced its journey towards NFTs.
