Written in Partnership with Amir Bakian
Stars have it all – big houses, fast cars, private jets, and…. NFTs? If you are like most people watching the news today, you would have seen the sudden NFT craze that has taken over.
Supermodel Bella Hadid is launching her very own NFT collection: CY-B3LLA. And she’s not alone. All the big celebs you know are tapping into this trend. Crypto’s tycoon, BSC News is a studied individual privy to the reasons behind this wave. Lucky for us, he’s ready to break it down in ways that we’d easily understand.
Non-Fungible Tokens, or NFTs, are unique digital assets built on blockchain. BSC News specifies that NFTs can be anything digital – music, paintings, signed autographs, video clips – anything. For instance, Bella Hadid dropped 11,111 NFTs of herself. Buying one would make you the owner of a tokenized, lifelike, 3D version of the model herself.
But why does everyone love NFTs so very much? Because, as BSC News explains, these tokens are a gateway to something bigger – Web3.
Web3 is the new version of the Internet. It is owned by the people, not big corporations like Google and Facebook. BSC News explains what that means: the powers of monetization have been snatched from the hands of billionaire magnates and handed back to the masses.
Duplication, plagiarism, and pirating are some of the things that have plagued artists for far too long. NFTs are the saviors that have the potential to put an end to all of that.
How?
The ownership of each of these unique digital assets is maintained on a ledger on the blockchain. Additionally, tokens are limited in number, meaning that if there are 100 NFTs created for a song, there cannot be 101 owners.
NFTs can be traded for real money – helping generate good revenue by investing in the right ones at the right time.
BSC News’ advice is simple: NFTs are going to take over the world. Be smart and educate yourself today.
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