Source : google ,
NFT or non-fungible tokens, have been making waves in the world of digital art and collectibles in recent years. In essence, an NFT is a unique digital asset that is verified on a blockchain, making it impossible to duplicate or counterfeit. This has created a new market for digital creators, who can now sell their work as one-of-a-kind pieces with verifiable ownership and provenance.
source : my wallet
One of the most high-profile examples of NFTs is the sale of a digital artwork by the artist Beeple for a staggering $69 million in March 2021. The artwork, called "Everydays: The First 5000 Days," is a collage of 5,000 individual pieces that Beeple created over the course of 13 years. The buyer of the NFT now owns the digital rights to the artwork, and it can be viewed by anyone on the internet, but only the owner has the rights to sell it.
source : my wallet
Another popular use case for NFTs is in the world of gaming. Many popular games, such as Axie Infinity and CryptoKitties, use NFTs to create unique in-game items and characters that players can buy, sell, and trade with each other. This has created a new economy within the gaming world, where players can earn real money by trading virtual assets.
source: my wallet
Despite the hype around NFTs, there are also concerns about their environmental impact. Because NFTs are verified on a blockchain, which requires significant computing power, they have been criticized for contributing to the carbon footprint of cryptocurrency. Some artists and creators have chosen to avoid NFTs for this reason, while others are exploring alternative blockchain technologies that are more energy-efficient.
Overall, NFTs represent a new frontier for digital art and collectibles, offering creators and collectors a new way to interact with digital assets. As the technology continues to evolve, it will be interesting to see how NFTs are adopted in new industries and applications.