What Is NFT and Why Do People Collect It?

2020-03-31 23:53:41 · 45 views · 3 min read


What is NFT?


An NFT(non-fungible token), is a new type of digital item based on blockchain.


In a centralized game, you can have digital items like a sword or a skin. But if your account is deleted, or the game shuts down, then all the items are nowhere to be found. They will disappear forever.


On the contrary, an NFT exists outside of any platform. Once you own it, you can keep it in your blockchain address (your wallet) forever.




Why do people buy NFT?


People buy NFT the same reason as they buy a piece of artwork or antique in the real world. They enjoy buying rare, adorable and valuable things.


Some people simply display it and like to show off, while some earn from trading it. Digital art collection is similar to real object collection to some extent--you could see it as both a hobby and an investment.




The NFT market?


There are amazing NFT collectors and creators in the market, supported by the blockchain technology. For example, the famous CryptoKitties, Blockchain Cuties and the cute Axie Infinity. Some clever collectors have already earn profit from the market.


But it’s difficult for ordinary people to access at the moment, as the technology is not universally applied. One day, when the technology and market become mature enough, everyone will be able to buy and sell NFT easily.




What's the future of NFT?


In the future, perhaps lots of top artists, designers, and creators in the world will be making NFT.


There will be millions of NFT creators. And buyers might also realize how inspiring it can be.




Want to own your first NFT?


Very soon this week or early next week, Dapp Store on dapp.com will launch with a new blockchain and new games. You can easily use your dapp.com account to access these games to own your first NFT and use it to make a profit.


Quite excited and want to know when? Very soon! Stay tuned!



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