But NFTs are designed to give you something that can’t be copied: ownership of the work (though the artist can still retain the copyright and reproduction rights, just like with physical artwork). To put it in terms of physical art collecting: anyone can buy a Monet print. But only one person can own the original.

What makes a good NFT?

NFTs with collectibility games (set completion, traits, etc) do better than others. NFTs should create utility for owners. NFTs should be media that creates a sense of “patronage” over their work/legacy for the buyer.

What do you know about NFTs?

An NFT is a Non Fungible Token. A Non Fungible Token is described as “using relatively nascent technology that certifies the authenticity and ownership of a token through a digital ledger of all its past transactions.” In other words, a blockchain, which is the backbone of cryptocurrency.

NFTs will eventually be used by the government, which will mark the ‘final stage’ of adoption for a market that just had a monster August, one expert says. NFT auction at Christie’s on June 28, 2021 in New York City.