NFTs: What Is NFT Art And Collectables?

https://www.youtube.com/watch?v=BOGG2e0NgLA

Back in my day we collected stamps and sports cards in real life. They came in packs and sometimes you would get a piece of gum. The new world of art and collectables is among us and it means you can have works of art or other other collectables like stamps put on the blockchain and traded as they were real objects. It sounds crazy and the idea of scarcity in the digital world is a weird one to fathom as copying and sharing content is what the net does best. But with blockchain you can limit the amount of a piece of digital art or collectable is out there. This means you can buy a digital work or art and keep it as you would a physical piece in the real world.

NFT With A Number

NFT stands for non-fungible token. Fungible means something that can be replaced with an identical item. So a non-fungible token means a token that cannot be replaced with an identical item. When you turn an artwork into a NFT that means you turned it into a token that cannot be replicated or replaced. Each piece of art you create is its own token. So if a photographer minted ten NFTs of his latest work there would be 10 unique tokens out there that can be tracked and traded. Sure people could screen grab that art but the piece would be a 'fake' and only the ten tokens would be on blockchain as being authentic. It is kind of the same as someone forgery a work of art in real life.
https://www.youtube.com/watch?v=hu4uNPzBGmE

NFT Art

Any work of art that can be put online can be made into an NFT. This can be a work of digital art or someone's photography. You can even paint a work of art and take a photo of it and that can be an NFT. Art is very subjective and there are numerous examples of it in the digital world. In order for it to have value the artist will need to only mint a limited amount of copies of the piece of art and then put it on the market place. Like art in the real world the less copies of the work or art and the more respected the artist the more the work can sell for. It also depends on the market and what people are willing to pay for them.

NFT Collectables

If you like me you might have collected sports card or marvel cards and kept them in a binder. Or maybe you preferred stamps or pogs. All of these have a certain number of each printed and when you get a card that is a 1 in 10 that means that are only 10 copies of that card printed (or it should be, I heard a story of a company that printed more cards that they should have). It is the same with NFTs as you can see how rare your collectable is and trade it with other collectors. It is actually more safe in a way as you verify how many copies are out there by checking the blockchain.

NFTs As A Bonus

Personally I don't own any and I like them when they are added to a site that does other things. For example if Leo added Leo stamps I could put on my posts or borders I could put on so they display on the trending page would be something I would buy and trade. But I don't know how I feel going to a site just to buy and hold collectables there. Atari has some neat ones on their site of retro games but I don't know how well they will sell in the future.

Non-fungible tokens are a cool way to bring collectables to the digital world but it is too to tell how well they will do on the market. It will depend on buyers and sellers and the verdict is not out if the demand is there or if people still want to keep their collectables offline. Crypto as a whole still needs to get a lot more users in general before we can see what does and doesn't take off. That being said the technology is there and you can now have a work of art online that is verified on the blockchain. You could also print a physical copy with a QR code and give out a digital token with it. Pretty cool... well in a geek sense.

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