Is NFT actually an art piece? What is actually an NFT?
NFT is not what you think. It is far more than just an art piece.
What is NFT?
NFT is non-fungible token or cannot be replaced. NFT is an valuable token with information stored within them. It cannot be replicate as it can differentiate easily with code. It also promote a sense of ownership. Thus, this benefits many digital industry.
It benefits the art industry as the artist can produce their own artwork without having to be worried about getting replicated. For instance, if the artist draw an art piece physically and put up in the museum and it was stolen one day. When the thief was caught and was handed back with artwork. How could you tell that the artwork that was stolen was actually original one. Thus, NFT can tremendously improved the security of getting it replicated.
Let take a look at another example; it will be about the metaverse industry. For example, when you attend a Snoop dog concert in the metaverse. How can you tell the difference that the person who is on the stage is actually Snoop dog. The culprit can just customised their avatar to be the same as Snoop dog outfit and you guys would not know who is the actual Snoop dog. Therefore, the NFT comes to its play as people can identified the actual person or avatar with code on that particular blockchain. As I mentioned earlier, it gives the people a sense of ownership because no one can replicate.
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