▶️ 1st of all I want to tell you that I knew so little about NFTs before joining Hive. I have seen some along the years as coins and images in Empire Kred and always thought to create one for myself.
Next, when I came to Hive I have seen my friend Paco's creations and I was fas-ci-na-ted! by his work.
Paco's work from his NFTShowroom gallery
I've created 2 also, one from a photo I had and another to celebrate 1 year of Hive. They're both minted in NFTshowroom with my @regeneretta account. I don't expect them to sell anytime soon, though.
But my interest in NFTs goes beyond the amazing and crappy pieces I have discovered on different websites over these months. It goes directly to their applicability in various fields and their purpose.
🔨 It must be something subjective here - as much as I like Aesthetics of all kinds, from a nice ass, mouth, eyes, ears, mouth, food, plate/dish, clothes, etc., I also enjoy the effectiveness and practicality of what I'm buying OR designing myself. Remember? I'm a designer so I always take into consideration different end-users needs.
I keep extending my research towards NFTs and their role in blockchain commerce, their features....just like I was "deconstructing" the watches and audio cassettes around the house when I was a child to see what's inside and how they function.
Purposeful! Right? 😄
Now....I'll be writing about NFTs but not about those that have value in the blockchain games.
I'm expecting NFTs to stay with us for a long while, besides the hype. For now, you hear about them because they are unique, and many cash sales always make the news, whether it's 500-year-old paintings or JPEGs ...simple moving images...Technology allows anyone to create something digitally and sell that product in an organized, secure, and convenient way for the creator and the buyer.
It seems simple to create an NFT. There are services that do this, all you need is a crypto wallet in which to store it afterward and transfer it to someone else if necessary. If you want to sell digital creations (fashion design, unique tattoos whatever), investigate their NFTs and marketplaces.
Then, with NFTs, a huge market for collectors opens up. The NBA set an excellent example. Champions League, Formula 1 and other competitions will probably immediately benefit from the same system. They don't have to develop anything from scratch, they are private companies that can't wait to get everything ready, in exchange for a license fee.
Ha! It feels like is the stamp collector era again for the contemporary generation.
NFTs are also a possibility for marking digital goods. I also see a future in which anti-piracy mechanisms to verify the authenticity of a digital good (game, movie, etc.) could use NFTs and the back blockchain to check if someone really bought that game or hacked it.
Beyond a breath of fresh air for the collectibles industry, which has been moved online (debatable whether they have value or not, or whether they shut down the Amazon Web Services hosting tap for all these projects picking dust from them), the true value of NFT is from the point of view of the music industry, too.
The artist can thus sell directly to consumers a song, an album, a collection of albums, etc. without the need for an intermediary (aka record label). Moreover, he can attach to the contract various ‘perks’ such as golden zone tickets to the next concert, backstage access for life, can attach a token convertible into a disc or vinyl record, etc. Additionally, he can set the contract so that every time he changes hands (aka it is sold by the first buyer) a royalty is automatically applied that reaches the initial artist. These are just a few examples.
My thoughts mixed with other people's thoughts....(does this happen to you too? I love self-mockery!)
Many say that NFT is a bubble of the moment, as DeFi was a while ago, and it will do little in a few months and only the important projects will remain, the rest will disappear.
NFTs trading platforms will probably survive, those who buy them now at a premium will want to get rid of them.
Read about rarible, open sea, nft20, ethernity chain if you get bored, they will probably be among the survivors.
An interesting niche will be fashion items, see luxury.
Other interesting projects are ecomi and enjin, huge potential in the coming months.
My hopes about implementing MORE FEATURES to an NFT are high.
CryptoKitties (which were also NFT) were on the wave for about 4-5 months many years ago, after that, some say that they went where they belong, to the crypto garbage.
However, NFT as a technical concept will have a completely different role.
Daydreaming and wishful thinking:
When uniswapv3 will be released, those who add liquidity to a pool (you know, a form of crypto investment) will no longer receive two paired tokens from that pool, but instead, they will receive an NFT that will be unique, representing the distribution (on the price range) that they want in that pool (now the distribution is uniform throughout the price range, so one can receive the tokens directly from the pair because all contributions are equal to each other).
Anyway, I know this is a technical discussion and I don't want to send this article in that direction now.
I love Art, don't get me wrong. But some NFTs are just a momentary (f)art...form of art, that is...:))
So NFTs as a technical solution is very useful, but normally their implementation in useful things takes much longer, so now we hear about them for frivolous use-cases sometimes.
Love for creativity.
Love for innovation and for visionary minds.
Thanks for reading!