It is a new way of investing in art or digital assets such as GIFs or tweets.

What is the point of nft art. The NFT is a version that claims primacy because its identity is stabilized while the original remains impossible to identify as original. Well Wikipedia defines the concept of fungibility like this. NFT stands for a non-fungible token and transforms digital works of art amongst other collectibles into verifiable assets.

They can be used as a creative extension of a song in the same way that sleeve art or a promo video is a creative extension of a song or they can become an entirely new format. The First 500 Days exists first and foremost in the digital space and is freely available. NFT is just a shorter way to say non-fungible token.

BeinCrypto spoke to Julien van Dorland digital artist and avid non-fungible token NFT art collector about his work his collections and the NFT space as a whole. Case in point. 338 billion USD this was the amount reported by the company NonFungible of Non Fungible Tokens sold in 2020.

In economics fungibility is the property of a good or a commodity whose individual units are essentially interchangeable and each of. NFT Non-Fungible Token has recently become one of the most popular words in the art world. For collectors investors and some artists the idea of introducing scarcity or uniqueness into the worlds of digital art content and memorabilia has obvious appeal.

So what does non-fungible token or NFT mean. OK but still what is an. Van Dorland is a digital artist an NFT art collector and founder of Arvable a digital agency helping artists explore the.

The recent prominence of artists and their less-obvious collaborators pushing non-fungible tokens or NFTsdigital collector cards. Just like real art. The concept of ownership and therefore materiality that an NFT provides an object could further legitimize art made using digital means to the general public as being equal to lets say paintings said Studebaker.