What are NFTs? new form of digital art

Eza Chavez

@ezachavez · 09 Feb 2022

What are NFTs? new form of digital art

#news

(PART 1)

Many will say that digital art has nothing artistic, and that great works of art such as paintings or sculptures are something irreplaceable, that they put physical works before the virtual.

Of course, there is no doubt in thinking that Michelangelo or Da Vinci's 'La Gioconda', or Van Gogh's 'The Starry Night', have enormous historical and commercial value, which is why they are in museums.

But you know what's going on in the world today ?, a new form of digital art has emerged that allows people to own exclusive works in the virtual world, these are NFTs.

Let's explain then:

NFT stands for the acronym “non-fungible token”, which we can translate as “non-fungible token” or “non-fungible asset”, or, what is the same thing, the meaning of NFT means that it is an asset that is unique, cannot be modified and cannot be exchanged for another of equal value, because there would be no equal one.

And these assets are also digital, that is, they have no correlation in the physical world (although sometimes they may have it).

To understand it better, an NFT would be like a unique work of art, for example, Michelangelo's The David, there is only one and it's in the Accademia Gallery in Florence; if someone wanted to have that particular David, they should buy it (if it were for sale) or get a copy, in which case, we would no longer be talking about the original, which is what gives value to sculpture.

The same happens with NFTs, it is a unique digital asset, which although it can be copied, whoever owns the NFT owns the original, working with a form of certificate of authenticity and obtaining the rights that with its acquisition has achieved, that means that there is an owner who is unique and who has a certificate with technology and cryptography .

What is the value of NFTs?
You have an exclusivity because they are unique. They also allow owners to belong to communities, communities, which grant benefits for owning an NFT. There are communities in the digital world that can only be accessed by owning an NFT.

Wait for my next post on NFTs

Photo: Pixabay