NFT – What’s in it for me ?

Non-Fungible Tokens (NFT’s) have been generating a lot of press lately, as there have been some very large buying and selling numbers bandied about, and some very well known names being associated with these digital assets. So what are they and how do they work?

To understand NFT’s you must start with knowing what non-fungible means. It is a term used widely in trade agreements to describe an asset that is unique, for instance, ancient Grecian Urns are all unique and will always have their own individual value. They cannot be bought and sold at a standard market price for ancient Grecian Urns, whereas a bushel of #1 USA Corn is not unique, it is “fungible” in that every bushel is bought and sold at the same prevailing market price for that grain. Assets managed on a Crypto Currency Blockchain are fungible, for instance, Bitcoins are all the same price at any point in time – not a one of them is unique.

The next thing to know is that NFT’s are digital TOKENS that confer ownership and authenticity of an asset. NFT’s use blockchain technologies, just like crypto currencies, to create, buy, sell, and trade digital properties. Blockchain is based on distributed databases that have many copies, and they have proven to be very secure and easily managed with sophisticated computers. NFT ownership is as reliable as BITCOIN ownership – it is the same technology managing both assets. There is no dispute or doubt about who owns the asset, and no doubt that the asset is the real thing, as it cannot be placed on the chain without being verified multiple times. Once placed on the chain it cannot be manipulated or stolen, as the data is not located on a central database, it is located on many widely distributed databases, making it virtually impossible to manipulate or steal.

Also like crypto currencies, NFT’s are managed through dedicated exchanges, where they manage all aspects of NFT’s, such as creation, buying, & selling. This is another market exchange where you will need to set up an account to get in on the action. The most common crypto currency platform used for NFT’s is Ethereum, but there are other digital currencies in play for NFT’s. Common types of items contained in NFT’s are works of original art, proprietary videos, tweets, GIFs, and sport trading cards.  The list of NFT assets is growing rapidly, and has recently included houses and other valuable properties.

As an investment, an NFT is similar to buying a real work of art – the value is not in the holding, but in the re-selling of the asset, at a profit of course. Another way for investors to profit from the NFT craze is to invest in those companies providing the enabling software and infrastructure. There have been many Blockchain projects started, and each one takes us a little further down the road to making digital assets totally mainstream. We are at the point now where governments, who are all desperate to increase revenues, are considering developing their own digital currency and even outlawing the private providers of these assets, such as digital exchanges. When this happens governments will finally have first hand knowledge of all digital currency transactions, and be ready and able to tax them all. Once governments have a taste of that revenue stream, would it be much longer before they will want to tap into, or take over, the very lucrative NFT market?

The aim of TREND DISRUPTORS is to discover, explore, and monitor scientific and technical developments, looking for the best ideas, so that we can publish useful, actionable, investment recommendations for our subscribers. As a general rule, our stock recommendations are speculative, and we advise caution, discretion, and thorough research. TREND DISRUPTORS strives to identify investment opportunities that can lead to success for the well-informed investor.    Stay tuned !

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