A non-fungible token (NFT) is a digital object: computer code and data that conveys ownership of something. The property may be online: for example, virtual real estate in the digital world or special equipment in a video game. Or it could be real: real estate, a painting, or a seat at a concert. An NFT can also be a hybrid: for example, the right to decide who can rent a room in a cooperative living space. A baseball card, Ronaldo’s first ball, a vintage car, or a piece of land in Central London: All are one of a kind and can be transferred to the NFT.
In 2022, we are likely to see NFTs everywhere; this includes in movies, TV shows, books, and more. NFTs are part of the digital economy and are becoming mainstream because they allow people to own something that represents a part of something bigger than themselves — a piece of art or a character, for example. The digital economy is made up of a variety of online markets, including game economies, virtual real estate, and even social media platforms like Facebook.
Our society has changed rapidly over the past decade, especially because of the 2008 to 2009 economic crisis and the pandemic. These trends are coming together to shape a world where NFTs will beat traditional collectibles, making 2022 a tremendous year.
