What is NFT and what it does for you
We are now undoubtedly entering into another era of technology. Before all these, the technology that we have are all technologies that encompass us as the user. Even the internet, something that is not a physical object or a piece of device for us to use, is also created for us and revolves around us, the humans that utilizes it. But as of right now, there is a change in the technology world that revolves around the world in digital for us to be in it and not for us to use.
What does it all mean? When we talk about the technology that we have in the past, we are always talking about some devices that we can use in the real world. Phones, Tablets, Laptop and more. Even when we talk about non-physical device items like the internet, we are still talking about things that are created for the ease of our life. But just recently there is something called Metaverse and it is a digital universe in the digital. It is created to revolve around the world that we can be in. It is a huge change and shift of technology.
When there is a world of digital, we can never lack assets in digital. Of course if there is a whole world in Meta then there should be assets that are in the digital format, that is where NFT comes into the picture and it is also what we are going to talk about.
What is NFT?
NFT is a digital token that is not fungible and what it essentially means is that it cannot be easily swapped out. It is an item with a ‘copyright’ on it. When the item has a ‘copyright’ that becomes a digital asset when it is in your name. So it is a digital asset for you. It belongs to you, and you can either keep it, sell it, or do whatever you want with it, but it is legally yours. Other people are able to see it, but they will never be able to copy, download, print or anything for that matter unless you trade, sell, or request for Royalties to use it under contract or deals.
What can NFT do for you?
What can NFT do for you is always the important question. With NFT, you are able to claim that item as yours and you are even able to work using NFT and more. As we have stated before, NFT is an item that has your name on it and no one can use or copy or even download it. That means that if you are an artist, you can use this digital world to lock in as that item is strictly yours and yours only. So if you are an artist and you drew something in digital format, you can go through a process called minting and you will be able to claim it as your item in the blockchain. If you want to earn from it then you are able to sell that item on the blockchain marketplace for the native currency which you can change through forex into National currency. It is a way to earn a living from it provided you are very good at what you do as there are many as well rivaling you. You can also mint items like Music, digital lands, art like we have stated before and many more in the format of digitals.
Of course, if you do not draw or make music, you can also buy and sell the item to earn more according to the marketplace market prices to earn a living as well. You can buy an NFT and invest in it until there is a profit margin and then sell the NFT item to earn a living and as similarly, you can always cash out with National Currency through Forex trading. So if you are interested in this, you will need to take note of NFT Calendar as you will always want to know Minting times and also Minting prices as well as NFT drops to be relevant in the market games!