Before Moving, what is NFTs?
I personally don't really following on what NFT is, because i am not my self a big fan of art or games. Since the recent news are exploding, I tried ti find out more about it.
So What is NFTs? Its a "Non Fungible Token" which means its a unique token minted on blockchain. The token are not divisible or splitable, can only be own in one unit of the token.
Each token is unique and can only minted one, the ownership and the originality of the token can be trackdown using the blockchain technology.
The token itselft can be a form or digital art, game characters, or anything digital can be minted and can be turn into NFTs.
What makes its expensive?
For me personally, what makes some NFTs expensive lies in its scarcity and the opportunity for early holder to gain profit as its popularity increase then drives up the value.
But for some mega rich person, owning an original digital art, game part, or some famous person tweets maybe just part of their day to day game. But for average person, will you risking all your saving to hold some NFTs with high price tag, but no one wants to buys it?
Don't forget Cryptokittes, the previous NFTs craze on the previous bullrun. You can read its rise and fall analisys in this articles . My brain and my english level can handle those information.
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I slap myself, seeing the price
Downside?
Since it is minted on blockchain we can assure the security of this token. No one can steal your valuable art piece like they can do on your hanging Van Gogh painting on your wall. But when you forget the key to your wallet, the it will only be a caged museum exhibition where you can only see it, but can't have it back again.
But as it is digital art like those real painting, anyone can make a copy of it and sell the fake version for profit. The only different, we can trackdown the originality of the token with a click of a button.
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Nike's CrytpoKick
Recently Nike manage to get a patent for what they called as "CryptoKicks".
The patent outlines a system whereby blockchain can be used to attach cryptographically secured digital assets to a physical product, in this case a sports shoe.
It could means a better integration between the digital world and the real world. Where you can buy a pair of sneakers and get the digital copy version of it where you then can sell of both of them separately in the future.
Remembering how those sneakers can be expensive, i wonder how expensive can it be after the release. Are you ready to kick sneaker's collector?
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