What are NFT tokens and what is their value

What are NFT tokens and what is their value

For the past few years, cryptocurrency investors have been trying to find alternative ways to invest. Fortunately, blockchain technology offers great opportunities not only in terms of buying/selling digital money. Of course, the price of bitcoin is still the most relevant issue for traders who take it into account when conducting trading operations. However, the emergence of NFT tokens has made many users who want to find new sources of profit pay attention to them.

Such tokens should not be considered in the context of conventional cryptocurrencies, because bitcoin, ether and other coins, although they are unique projects, they are only means of payment. As for NFT, it can be characterized as an irreplaceable token that is more of a collector’s item than a consumable.

Why are NFT tokens considered works of art?

Stories of how a digitized picture sold for tens or even hundreds of thousands of dollars have been tearing up media space for years. That’s what NFT tokens are. But why are they so expensive? The secret is in the process of creating them, which makes NFTs unique:

The developers take a famous picture, such as a Renaissance painting, as a base;
it’s encrypted using blockchain technology;
the file with the unique code stays with the owner, who can store the picture or put it up for sale;
collectors of unique tokens want to replenish their collections with rare NFTs, so they are ready to pay a lot of money for them.

The guarantee of NFT uniqueness is the code, which confirms the originality of the token. It should be noted that not only images, but also video files or audio tracks can be digitized. For example, Metalist soccer club created several tokens with a cut of goals and dangerous moments of the last season, which were shared among the fans of the team.

NFT provides a wide field of activity for artists and designers who can create their own masterpiece. However, you don’t have to know how to draw to have your token “shot”. It can be a series of pictures united by one theme, or a set of memes with a unique code.

Where can an NFT token be used?

As mentioned above, in addition to collector’s editions, there are indispensable tokens issued to attract the interest of fans. Such a technique is used by many sports teams around the world, offering fans a unique product in the form of pictures with players or video cuts.

Today, NFTs are gaining a lot of popularity in the field of video games. They allow gamers to:

customize certain game mechanics;
adjust the rules and even create mini-games within large releases;
improve interaction between players.

If earlier avatars and skins on the character in the game were available to everyone, although the latter had to be bought, today gamers can get a unique artifact. Especially popular are exclusive avatars that a player can use in several games, which will increase his recognizability among the community.