NFTs are not just glorified digital receipts – they are the building blocks of a new ‘user-owned’ internet. Consider these three points:
- All of us are creators. We all create stuff – with varying scope and impact – but we all create stuff all the time. Photos, tweets, emails, messages – every single one of us, every single day. We have always been creators – and the new tools (smartphones, cameras..) just enable us to create even more.
- All of us are collectors. We all collect stuff – in different forms and domains – but we all collect stuff all the time. Photos, art, souvenirs, in-game assets – every single one of us, every single day. We have always been collectors – and the new tools (digital goods, tokens..) just enable us to collect even more.
- A new way to prove ownership is gaining acceptance – “NFTs are blockchain-based records that uniquely represent pieces of media. The media can be anything digital, including art, videos, music, gifs, games, text, memes, and code. NFTs contain highly trustworthy documentation of their history and origin, and can have code attached to do almost anything programmers dream up (one popular feature is code that ensures that the original creator receives royalties from secondary sales). NFTs are secured by the same technology that enabled Bitcoin to be owned by hundreds of millions of people around the world and represent hundreds of billions of dollars of value.” Source
A perfect storm is brewing. The future is getting minted, one NFT at a time.