What is an NFT?

It is clear that the digital economy is not only here to stay, but is ready to gain ground from the “traditional” economy.

A few days ago we published an article explaining what had been called “tokenization” of public artistic assets and heritage and the possibility that they could serve as financing for public administrations.

Today we will talk about a very recent phenomenon, the NFT (Non-Fungible Tokens).

Author memes

Recently the news has appeared in the media that a young woman has sold a meme of which she was the protagonist as a child. In this meme he showed a smile and disturbing looks while a building caught fire in the background, it was the famous “disaster girl”.

From there, the news about authors of memes who have sold them have proliferated. How is it possible to sell a meme?

What really is an NFT?

Actually, it is an application that allows you to register digital works of any kind, authenticate them and, of course, from there sell them.

he general system of monetizing these works is the tokenization that we already talked about at the time as we mentioned at the beginning of this blog. And, although it may surprise us, this is what makes it possible to sell a meme.

To the older generation this may sound similar to a scandal that occurred with a company that sold shares of collector’s stamps and that led to a pyramid scam case.

Someone might think that it is the same to sell shares in a label than in a meme … well, it definitely is. The only difference is that instead of scouring the collectibles market for a piece of great value, we “issue” that piece ourselves.

NFT and investment

So the question again is, does an NFT make economic sense? The answer is that it makes the same economic sense as a coin from the times of the Roman Empire, or a stamp in which the head of some king is upside down, or a Star Wars toy without taking it out of its box.

It has the same value as any other collector’s item and really, antiquity only gives value to a collectible object because historically people have a tendency to value the old.

But if that trend changes and we start to value the new and especially digital art as a collector’s item, we are really facing the same case as if we have a valuable stamp in our hands.

If we are wondering about its value as an investment, again we have to treat it with the same caution as any other collectible.

With the addition that it is a series of objects that can be created infinity of the same type, theme or with minimal differences.

It will take some time to get used to these new territories to which the digital economy leads us, to define their legality, their profitability … in the meantime, just in case, register your memes.