What is NFT?
NFT (Non-fungible Token) is a technology that gives a unique authentication to digital content using blockchain technology.
Currently, digital artworks can be reproduced online. With NFT applied, only one digital work can be certified to be genuine. In other words, the NFT serves as the certificate of authenticity.
For example, while there are numerous counterfeit replicas of Van Gogh’s paintings, if NFT technology is applied to the original piece, the NFT cannot be replicated.
For content creators, the NFT technology provides opportunities and routes to sell their works. Because NFT can be applied to any digital assets, such as paintings by popular or not-so-popular artists, photographs of celebrities, digital images, sound sources of artists, they can be sold with transparency by proving their authentic value. A commission is paid each time the NFT is sold or the holder changes. The rarer and more in demand the work is, the more profit it will bring in for the holder.
Users who purchase NFT can also open fundraising to support their favorite artists. When a user buys NFT, he also gains the right to post the image or work online or use it on his profile. This means that the NFT is recognized as an investment, with the expectation of an increase in value for future profit.