Written & organized by, Diggsiii
What exactly is an NFT? Watch this 17 min video below.
https://www.youtube.com/watch?v=Oz9zw7-_vhM
Still need more help understanding what an NFT is? A beginner's guide to NFTs - read 10mins
NFTs (non-fungible tokens) are best understood as unique digital assets that exist on the blockchain. They can be in the form of digital art or music, virtual real estate, all the way through to collectibles and gaming assets, and we are only just scratching the surface on their utility in the real word. They are ‘non-fungible’ because they are unique and cannot be replaced with something else. Any digital asset can be minted or tokenized and turned into an NFT. Once minted or tokenized, these assets can be bought, sold and traded using cryptocurrency.
Think about your aunt, uncle, grandma, your parents and their old-school collectibles; marbles, antiques, cards, magnets, pins etc. On a larger scale this can extend to cars, businesses and property ‘collections’. We tend to communicate through our purchases, and humans have inherently hoarded these assets because, among other reasons, we get caught up in the nostalgia of the story, or we think they will be worth more in the future, or they capture a moment in time that is special and unique to a particular culture or to the owner themselves etc.
The modern, digital version of this is the NFT space.
While its tough to find someone excited about your Winnie the Pooh artwork or your Snoopy figurine collection at home, it is very easy to find like-minded people online to flex your NFT to and find to your community. These assets are also very easily traded and transferred, and it also is a way of proving a trait or how rare the NFT is and its history, and also gives you ownership of the original asset.
Lastly, you need to understand what the Metaverse is and how it will impact our future. Please watch this keynote below.
https://www.youtube.com/watch?v=Uvufun6xer8
Now that you have an idea of what the Metaverse is, here's an example of a virtual world that's built upon the Ethereum blockchain.
https://www.youtube.com/watch?v=qGgYEwJrw0w
https://www.youtube.com/watch?v=ei4kgNfe2uM
Now that you know a bit about the Metaverse and the different worlds available, lets talk about how you stand to making money.