Why Are Celebrities Joining the NFT Game?
Non-fungible tokens (NFT) are all the rage right now. Debates around the subject have been going back and forth. These tokens usually present contradicting ideas. Some are for it, while some are against. Either way it is a phenomenon that will be present whether we like it or not.
NFTs can be considered a unit of data that functions as a certificate of proof. The certificate is evidence that a digital asset is not interchangeable and unique. However, the token can be traded and transferred if needed. The tokens are kept on a database called the blockchain. The blockchain runs separate from the government, the database is collectively governed by smart contracts.
Just like physical contracts, smart contracts have terms and conditions that allow the process of trading and transactions to occur smoothly. These contracts are also able to identify whether a token is authentic and unique.
At often times, NFTs are compared to other types of tokens or cryptocurrencies. But, there is a district difference between the two. For one, cryptos are fungible. This means that they are tradable and equate the same. For instance, one bitcoin equates to another bitcoin. This concept does not apply to NFTs, because each token can’t be divided equally, and they are unique in their own way.
The NFT playing field is getting bigger now that more celebrities are getting involved. Celebrities influence our lives whether we are aware of it or not. We tend to follow celebrities that have the same beliefs as us. So, if they start investing in the NFT game as players, we will soon follow. Snoop Dogg, Brie Larson, Paris Hilton, Grimes, Shawn Mendes and Lewis Capaldi are just a few names that can be mentioned who have joined the NFT craze.
How do NFTs benefit the fans?
Some people like collecting things. Some people like collecting rare collectibles. For instance, ever wonder why Americans love signed baseball cards? Well, to them, it is a rare item that no one else owns. Imagine if you have a poster of your favourite movie, and you managed to obtain a signature from the actor of said film. You would deeply cherish it, and when it was time you would eventually let it go. The same concept applies to NFTs.
Not everyone has access to the NFTs sold by these celebrities. These celebrities are giving their fans a chance to own something unique that is related to them. It is the digital version of merchandise, tickets, albums and pictures.
Basically, the main selling point of NFTs is that it is exclusive to a certain number of people. Then in the future, people who own this NFT can show it off to their friends, family and loved ones.
So, if you are interested in dabbling in the NFT playing field as well, check out world NFT news for more information. Hopefully, you will soon get your hands on your very own limited edition NFT. What are you waiting for? Get started.