Non-fungible tokens or NFTs have created an asset class that did not exist 15 years ago:  NFT Art.   NFT Art is any art that exists in a digital format and that is secured and maintained using blockchain technology.   Owning an asset that is on the blockchain has enormous benefits for the NFT Art owner.  The blockchain is encrypted and ownership is easily verifiable.  Further, the blockchain is immutable and cannot be hacked or manipulated by any bad actors.

Digital Assets

The blockchain technology also allows for the easy transfer of digital assets.  For example, an NFT owner can go to a very liquid NFT Art market and sell his NFT.  Als0, a consumer interested in purchasing an NFT, can go to an NFT marketplace and browse a wide array of digital assets before purchasing the NFT they like.  This easy transfer of value and ownership is a fantastic benefit and only possible because of the power of the blockchain.

NFT Monkey

NFT Art. An Awk Monk NFT.

NFT Art As an Investment

Traditional Art has long been considered an investment for the wealthy and upper classes.  There are reasons for it.  Traditional art can appreciate tremendously over time.  This gives the art owners something beautiful to look at, while also banking equity along the way.  Traditional Art collection have also allowed individuals to diversify their investment portfolios.  This enables savvy investors the ability to spread risk around multiple assets.  These same qualities and characteristics exist in the world of NFT Art.  Moreover, the overall expenses involved in ownership and upkeep of the digital asset are relatively low.  As metaverses and other digital landscapes continue to grow, expect a continued interest in NFT Art. People need art to display in their virtual houses too.

As a Collectible

Human beings have an innate interest in collecting things.  Our ancient ancestors collected the teeth from wild animals.  Many of us grew up on baseball cards, and other collectibles.  Due to technology’s advances, we are now able to trade and collect digital collectibles in the very same way we collect collectibles in real life.  Of course, none of this would be possible without the creation of non-fungible tokens.  Moreover, because the blockchain acts as a public ledger, ownership of the non-fungible tokens is unambiguous and easily verifiable.

NFT Art As a Utility

NFT Art may provide utility to its owners.  For example, NFTs may allow an owner to gain access to a private event, or even allow the non-fungible token to change over time due to external events.

Thank You for a Real Good Time!

Continue to check out our blog post for more news on NFTs, our Awk Monk NFT Project and other helpful resources.  Also, don’t forget to check out our Ultimate NFT Monkey Guide, where we talk everything NFT Monkey related.