Non-Fungible Tokens are digital assets that use blockchain technology as a way of ensuring safety of the holder.
Anything you can upload can be an NFT.
Why are NFTs valuable?
Unlike any other product, Blockchain tech allows for:
1) a public record of everyone that has ever owned it and where it came from
2) contracts
NFTs also allow for CONTRACTS! (This will change the art space forever)
A contract means that an artist can keep making money off of their art every-time it’s sold. Peep how innovative this is.
Let’s say I’m an artist and sell an NFT for $1000 to my aunty. Since it’s my first sale, I keep it all. Let’s say my aunty go and sell it in a week for $10k, I make 10% of that sale (another 1k $) and 10% of any other sale moving forward!
My theory is as automation increases and industrialization begins to decline globally, art and ideas will be the currency of the future. We essentially will have all day to just think and create.
This is the future of digital ownership and wealth. Black folks aren’t on it, people are getting 100-1000x ROI on digital assets.
1. Opensea (the store)
2. Coinbase (the wallet)
There are many more, so your research! Only risk what you are willing to lose.
I’m Raul from Social Justice Tech. I help Black people land high paying tech roles.
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