NFT refers to Non-Fungible Token, the acronym which explains everything, right?. Just facts: NFT has gained popularity in the same way the crypto sphere begins to gain popularity towards 2021.
What is NFT?
Let’s say that NFT is just a one-of-a-kind virtual currency that can take the shape of paintings, films, music and any other type o digital production. Driving into more details, a non-fungible simply states that any kind of creation cannot make a benefit and be exchanged by others.
Talking about Benefits
Collectors, gamers and also athletes can now acquire irreversible ownership plus other unique properties and profit from those due to the arrival of blockchain technology, so put your price on it. By how the collectibles market changes, NFTs are becoming extremely popular with cryptocurrency consumers and companies. A maximum of $175 million has been invested in NFTs since December 2017.
Definitely, nowadays the most common application of NFTs is in the field of digital material. To be honest, services are sapping content creators’ income as well as earning capacity. For example, a painter who posts artwork on any social media, makes some kind of “revenue” for the site, who sells “advertisements” to the artist’s fans, but publicity does not cover the expenses, right? Physical goods are not yet as well-tokenized as their virtual counterparts, but numerous projects are looking for the “tokenization” of property investment, like painters, sculptors and independent designers.
So, NFT’ are fueling a new economy for every artist or creator, retaining control of their artwork –ownership is ingrained in the substance. Money goes straight to them. If any artist on Studio 54 sells their work, the designer’s address is included in the token’s information, which can’t be changed and ensures every single profit.
Physical goods are not yet as well-tokenized as their virtual counterparts. However, numerous projects are looking into the tokenization of property investment, one-of-a-kind designer clothing, and other topics. As technology advances, it’s not difficult to envision a day in which your Ethereum account serves as the ticket to your house or car, with the cryptographic evidence of the owner unlocking the entrance.
Studio 54 Galleries
Every time, the list of artists looking for a safe place to sell is growing fast as fire. Like Shaina Lavine, born and raised in Orange County, California. After a full-time career as model, rediscovered the passion for being creative, starts to help a friend to paint something on canvas for her house. From there she started to make art for more homes, stores and restaurants around California. Now she is one of the highlighted artists from the Studio 54 marketplace.
Studio 54 is a platform and a team working the intersection of Art and Technology that can help you build your own NFTs store, without coding and with zero cost upfront.