Basic information:
Non-fungible tokens (NFTs) have had a significant impact on the crypto world, influencing industries like art, gaming, finance, and more. Here's a breakdown of their impact:
1. Digital property rights
NFTs allow people to establish verifiable ownership of digital assets such as art, music, videos, and collectibles using blockchain technology. This has created a new market for creators and collectors.
2. Art and creativity
• Empowering artists: artists can sell their work directly to audiences, bypassing intermediaries. Royalties can also be programmed into NFTs, providing ongoing income for creators.
• Access to global markets: artists and creators gain access to a global audience through platforms like OpenSea, Rarible, and Foundation.
3. Games
NFTs have revolutionized gaming by providing ownership of in-game items. Players can buy, sell, or trade assets such as skins, weapons, or characters across different games.
4. Tokenization of real assets
NFTs are used to tokenize physical assets, such as real estate or luxury items, enabling fractional ownership and simplifying trading.