NFT the new Bitcoin? Analysis of a new trend

But what are NFT?
An intangible asset (IA), also known as an intangible good, is any type of property that cannot be visibly or tangibly seen or touched. An example of an IA would be land. Tangible assets include physical items, such as cars, buildings, and furniture. Tangible assets can be owned by individuals, companies, and governments. In the business world, tangible assets are often referred to as capital assets. Intangible assets may be used to represent ownership in a company, including patents and trademarks.


How Do NFTs Work?
NFTs are sold and distributed through online marketplaces such as Rarity. Investors can review the list of assets before making a purchase decision. Cryptocurrency is required to buy digital assets and create an account on the NFT Marketplace connected to a cryptocurrency wallet containing coins. The most popular blockchain NFT uses the Ethereum ERC-20 token. ERC-20 tokens are used by blockchains to issue smart contracts on the Ethereum blockchain. Tokens can also be purchased using Polygon, Solana, and Polkadot cryptocurrencies. NFT has opened new doors for artists, businesses and celebrities to monetize their wealth. Artists can create libraries of digital assets to market to a new wave of investors and collectors. Celebrities create assets that benefit from prominent brand identities. Some of his NFTs have sold for thousands and possibly millions of dollars.

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This NFT is a collage created by Mike "Beeple" Winklemann. I have been shooting since 2007. The image was sold by auction house Christie's on March 11, 2021 and is believed to have sparked the NFT boom. The sale price was a record $63.9 million.

Wikipedia about NFT
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