A digital collectible or NFT artwork is a digital asset (such as a video) that is verified using blockchain technology. These assets are called NFT (Non-Fungible Tokens) which the main feature is that they are unique, and they cannot be replaced or exchanged for anything else.

For example, a coin is a fungible material, since if you exchange it for another coin with the same value, you will have another coin with the same value. But you can’t exchange an original Picasso painting for another like it. An original Picasso is a non-fungible asset.

What is NFT crypto?

As you already know, blockchain technology allows establishing a proof of authenticity using a network of computers that manage and store transactions. This technology makes it possible to unequivocally define the owner of the token and keeps a record of the token owner.

blockchain

Digital collectibles have been incorporated into this blockchain technology. NFT crypto can include images, GIFs, songs, or videos. Most importantly, NFT makes digital art unique and sealable. When someone creates an NFT, a new file is added to the blockchain. This file lives on the blockchain, which means that it cannot be copied or modified. It’s unique.

NFT crypto technology has been with us since 2010, but it was not until 2017 that it had a considerable boom due to the well-known CryptoKitties, a site that allowed people to buy limited edition digital cats with cryptocurrencies.
cryptokitties
CryptoKitties

The latest advances in this technology and an evolving understanding of how property works on the internet have contributed to the rise in popularity of the Non-Fungible Tokens market. Specially the digital NFT artwork market.

You can enjoy a high-resolution photo of The Mona Lisa on the best computer monitor you can afford, but that doesn’t mean that no one is willing to pay a good amount of coins (or cryptocurrencies) for the original painting.

Does this mean you are now able to sell your own tweets?

Yes, you could. As long as someone is willing to pay for one of your wonderful tweets, he or she would be the owner of your work and your work would be irreplaceable.

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Twitter founder, Jack Dorsey

Artists, musicians, influencers, and sports teams are using digital assets that were previously worthless. Blockchain technology allows responding to a basic need in the world of art: the proof of authenticity of the NFT collectible and the link with its creator.

The most interesting situation about this world is that you can view or even download a copy of the digital asset and even share it as many times as you want. Even if it is an NFT digital collectible. In fact, the more a file is shared and viewed online, the more cultural value the NFT artwork will acquire.

NFT artwork: artists create NFT art

artist
If you are an artist, you may be interested in NFTs because it opens the doors to a previously unknown dimension. You could sell your work, your art, where maybe there was no place or interest in another type of market.

You will also be interested to know that, thanks to blockchain technology, it allows you to enable a payment of a percentage each time your work is sold or transferred. This way you make sure that if your work becomes very popular and its value skyrockets, you will have a share of the benefit.

If you are a buyer, or an art collector, in addition to supporting the artists you like by buying their digital works, you can acquire some rights to these NFT collectibles, such as uploading them on your website or social media profile. It is also a way of speculating (as with many other assets) knowing that blockchain technology is been used behind these digital collectibles.

The best thing about using blockchain technology in digital collectibles is that each NFT artwork is unique as it is a single token on the chain.

As a buyer, you are paying for a digital certificate of authenticity that says that you are the owner of the original file.

Where to buy NFT?

There are several markets on the internet where you can buy NFT artwork.