Have you ever heard of non-fungible tokens? What are NFTs? Part 2

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Olivier Acuña, Journalist, Author and PR Manager for Electroneum explains the basics in this 2 part series

NFTs are digital collectibles that are minted on the blockchain. They’ve been around since 2014 but began gaining significant popularity last year and in 2021, they’ve been referred to as the fastest-growing asset.

NFTs have been around since 2014 but have recently gained popularity[RP1] because they have become an increasingly trendy way to commercialise art and collectibles, mainly trading cards. Yes, trading cards such as those football or baseball or even Pokemon cards that many of us traded when we were younger. Honestly, some of us continue to trade them and pay top cash for them.

“Unlike traditional collectible trading cards, items created on the blockchain (such as NFTs) provide important benefits,” Blockchain Heroes Co-Founder Joel Comm told ETN-Network. ”These advantages include transparent sales and trading history, immutable ownership records, provable scarcity, and unique minting identification numbers with each card.”

READ: The 43 most expensive (physical) trading cards

NFTs are created or “minted” from digital objects representing physical and virtual items, including artwork, GIFs, videos and sports highlights, collectibles as we have already said, virtual avatars and video game skins, designer sneakers, music, and the list goes on.

And yes, even tweets. Twitter Co-Founder Jack Dorsey sold his first-ever tweet as an NFT for nearly $3 million, as CNBC reported on 24 March.

NFT digital cards

NFT collectible cards are basically a digital version of traditional trading cards, such as the baseball and football players’ cards worth millions of dollars in mint condition. According to an ESPN article, a 1952 Mickey Mantle card when for $5.2 million. Mantle played for the Yankees his entire baseball career from 1951 to 196

An article by Blockchaingamer dated 25 January 2021 has a list of the most expensive NFT cards to date. Cryptopunk’s Alien #2890 NFT card sold for just under $762,000 on 23 January 2021. That is especially meaningful when noting that NFTs first appeared three years ago. Cryptokitties, one of the world’s first blockchain games with over 1.5 million users, is credited with taking NFTs to the mainstream.

NFT artwork

NFTs help solve a long-standing problem with scarcity in digital art. While there’s fake art in the real world, too, experts can authenticate them. As Binance Academy explains, NFT artwork gets most of its value from verifying its authenticity and ownership digitally.

“While anyone can look at a CryptoPunk on the Ethereum blockchain and download or save the image, we can’t prove we own the original.” That is unless you are and hold that digital certificate of ownership, which means you do not require an expert for authentication purposes.

“When it comes to NFTs, the value isn’t necessarily about the attached artwork. Sometimes, what is more important is proving ownership of that particular asset. This aspect is what makes crypto art one of the most popular NFT use cases out there,” says Binance Academy.

NFTs and the AnyTask™ Platform

When it comes to online NFT artists, the AnyTask™ Platform arguably has the lead as a global freelance platform, one that a few other competing websites followed.

READ: Meet Neto Robatto, a very talented AnyTask.com NFT artist from Brazil

In a very short time since introducing its NFT freelance category, AnyTask.com artists have spoken of the impact it’s had on their lives. And various, particularly Neto Robatto, Ayomee, and Khezzey, have done some fantastic work, so if you (reader) or anybody you know needs an amazing NFT, visit AnyTask™ Platform’s NFT category and get yours done now.

Source: https://www.blockleaders.io/have-you-ever-heard-of-non-fungible-tokens-what-are-nfts-part-2/