While there are definitely some eye-popping figured being thrown around. You've probably heard of recent NFTs going for as much as $91.8 million. The NFT's headline-grabbing nature is mostly due to the fact there can be huge sums of money involved. Oops!Īre NFTs the future of the publishing industry? Don't make the same mistake as these guys who spent $3 million on a Dune adaptation thinking they would own the actual copyright. One very crucial fact to keep in mind: The original creator of a piece of art still owns the copyright and intellectual property of the NFT. ![]() NFTs can also be videos, GIFs, logos, written works, and just about everything else digital under the sun. For example, former Twitter CEO Jack Dorsey sold an NFT of his first tweet for just under $3 million. Blockchain technology acts as a digital ledger that can't be destroyed or edited by other people-this is what makes it possible for people to be sure that they own original NFTs.īut really, what IS an NFT? While it's true that most of the buzz surrounding the NFT involves its usage in claiming ownership of digital art, the reality is that it can be anything digital. When discussing NFTs, the phrase is used to signify a unique digital cryptographic token that exists on a blockchain and allows people to claim ownership of a piece of digital data. In general, non-fungible essentially means something that can't be copied or substituted. All signs point to continued growth in 2022 and beyond.īefore we get ahead ourselves, let's take a step back and answer some very basic questions.Īs stated above, NFT stands for non-fungible token. According to DappRadar, NFT sales skyrocketed from $94.9 million in 2020 to almost $25 billion in 2021. The speed at which the NFT is taking hold is breathtaking. As we saw in 2021, publishers have already begun experimenting with potential methods of earning revenue via NFTs. Like with any new concept just beginning to shake up your industry, there are numerous ways to benefit from being an early adopter. In its relatively short lifespan, the NFT-short for non-fungible token-has evolved from a somewhat nebulous concept vaguely understood by few to a total game-changer whose implications we're only just beginning to comprehend.īut publishers would be especially wise to catch up as swiftly as possible. ![]() Naturally, we could only be talking about the NFT. ![]() It seems like just yesterday that the concept of the metaverse was the talk of the internet, but look out-there's a new kid on the block. Each month, it seems, there's a new Next Big Thing that everybody is talking or tweeting about-an idea or concept that seems poised to completely revolutionize the world (or the world of digital media at the very least).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |