Will NFT’s Turn Artists Into Billionaires?

NFT’s, What is it, and how this crypto is now storming the internet?

This week, NFT’s which stands for Non-Fungible Tokens, a form of crypto-assets, What Gary Vee describes as a digital art form, you can sell your artwork, photos, or a GIF you do not hold in the palm of your hands.  But instead, you hold that artwork stored in your digital wallet.  If you are an art collector, NFT will hold more digital investment long term.

NFT’s maybe the next thing to Pokemon Trading Cards.  However, I highly doubt the fact it will turn every artist into an overnight millionaire.  Which it won’t. Question is?  Will NFT’s turn artists into billionaires?

Why the NFTs so highly trending this week?

As of this week. what has caught the eyes and ears of everyone talking about Non-Fungible Tokens (NFT) were influencers like Gary Vee, Jack Dorsey to name a few.  had bought so much attention now that it will start to catch on very, very fast.

While this appeal goes towards artists, Meme makers and, photographers.  I know the timing couldn’t be a better time as of now.  Since many artists have gone digital many aren’t laying down their art skills towards a physical brush and canvas.  A lot of artists have gone digitally uploading through websites like rabible, or opensea.io and profiting their digital work.

With these digital assets, NFT’s in simple term is a crypto non-fungible Asset described best as;

An NFT is a non-fungible token existing on a blockchain. A token is the sign of ownership of an asset. For example, a concert ticket is a sign of ownership of one space for a concert. A Bitcoin is the title of ownership to the underlying value of the Bitcoin. A token is a digital asset, stored on the blockchain. As the blockchain is transparent, it is easy for all to see who is the owner of what token.

My option

towards non-fungible tokens may end dipping before it continues to soar on its value.  While I like the idea and it is revolutionary for digital artistry, Overhype sensation may influencers will hurt anyone that’s buying it, that has dug into the hype without common research will end up losing all the money on that digital piece.  While I do not see myself spending 25K on a GIF, Photo, or meme.  People like through influencers will drive them to a long financial hurdle based on their snap decisions to jump train without knowing.  Gary Vee, for instant, has a LARGE following on both Twitter and Instagram.  Many of them will go by herds by one person’s word instead of through their own intentions and study.  If I am correct, this NFT bubble may pop over stopping anyone to following Gary Vee and possibly losing his credibility.

Thanks for reading!