How are NFTs changing the norms of the art market?
What is an NFT? Before we delve deeper, let's remember what NFTs are . The acronym stands for “Non Fungible Token” or “Non Fungible Token” . Specifically, an NFT is a digital object such as an image, a GIF, a video, etc. The main characteristic of an NFT is to be “non-fungible”, that is, unique. But how can a digital image that can theoretically be copied infinitely be unique? This is where the concept of “token” comes into play. What is a token? Each NFT is associated with a token. This token contains the main information related to the NFT (its owner, its price, its description, etc.). This token is recorded on a blockchain , similar to a public ledger. This token is unique in the sense that it has its own identifier. Through this token, the NFT becomes unique, even if the image (in the case of an image) of the NFT can be copied. Thanks to this tokenization system, NFTs have achieved the feat of creating rarity in a digital realm that is essentially replicable to infinity … Do y...