BY RICHARD TEO
Staff writer
Non-fungible tokens or NFT for short, are digital assets in the form of distributed cryptocurrency. NFTs are most commonly associated with Digital art, however, they are not limited by such but rather extended by other forms such as videos or in-game items. NFTs in particular are unique in that they have managed to become extremely popular and expensive over a short period of time. The concept is simple. People create art digitally and distribute it for auctions. Their value is time-dependent and it’s heavily known for its numerous investments in the stock market. NFTs function via cryptocurrency, so their value is inputted into the blockchain and thus, making them “safe.” However, the general public remains confused about the unorthodox use of these assets and how they can be beneficial to them alongside the idea that the art is not safe from “screenshots.” NFTs are specially made. They’re exclusive to their buyers and people will buy them for their potential value and their rarity. NFT art is the only one of its kind after all. Seemingly defeated by the screenshots, NFTs actually have a “sticker” printed when bought to validate their authenticity. Nike, in 2019, has used NFTs as stickers to verify their special sneakers and some have even sold them in the form of a ticket to events. Therefore, in the near future, there will be an elimination of unofficial copies of the purchases. Still, the value of such still remains a mystery. The most common thought is “who in their right mind would buy this when they can just make it themselves.” That argument may be subjective to those who have hope that one-day cryptocurrency will rule the world as the general form of currency. Those who aspire to be rich through unconventional means may agree as well.