28 Nov What are NON-FUNGIBLE TOKENS… NFTs? part-1
The past 6+months, I did a deep dive to learn as much as possible about NFTs. Realizing there are unlimited opportunities to LICENSE intellectual property (IP) in this space and that NFTs are the FUTURE for all-things collectible, I believe that I’m becoming an NFT nerd, and loving it!
Here are a couple points to get this dialog started. Much more to come.
What is an NFT…. at a basic level, an NFT is a digital asset that creates and links ownership to a unique digital or physical item. I know, that’s vague and ambiguous.
Let’s try this. NFTs are digital assets that replicate objects of art, videos, photographs, music, in-game imagery and much more.
NFTs are items with unique identifying codes, which include digital creations of existing physical “things,” such as clips of iconic moments from NBA, NFL, NHL, MLB, Formula One, NASCAR, IndyCar or other sporting events and franchises.
NFTs can be bought and sold via BLOCKCHAIN technology with encrypted, trackable, and (potentially) royalty generated cryptocurrency methodologies.
NFTs allow Collectors to claim “bragging rights,” albeit, digital ownership bragging rights.
NFTs are THE NEW LICENSING MODEL, which I’ve been chasing to understand and monetize on behalf of business partners and clients.
No Comments