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NFT Blockchain Becomes the New Talk of the Town

Published Thu, Nov 25 2021 05:25 am
by The Silicon Trend



NFT Blockchain Becomes the New Talk of the Town

For the past several years, we have seen an unexpected change in the approach of worldwide people towards finances and money. When the record storing system - Blockchain came into action a decade ago, it led to a new term, 'Cryptocurrency.'



NFT and Digital Art

NFT allows us to purchase and sell ownership of digital items such as drawings, videos, audio or songs, and keep track of who owns them using the blockchain. Digital art became popular because of its interactive potentials. It is one of the fastest and affordable methods of exhibiting one's creation. The negativity of digital art is that be it visual or audio, they could get stolen on the internet. After long hours of investment and creative sparks on what might be one's version of the famous painting - Mona Lisa, artists are robbed of the credits.



NFT is a Solution

  • Credibility and Ownership - NFT blockchain now offers the creators ownership of work, something that prevents art copies, thus preserving credits.
  • Security - As NFTs become famous, it is essential to create a regulatory framework and infrastructure to attract young adopters, followed by governance protocols around the tech. This will minimize the fake posting of artworks and hackers.
  • Revenues - NFTs are developed to offer profits and payments to get a fair share of their digital creation once they flood around the internet.