What’s the promise of NFTs?

Being digital goods on a global ledger, non-fungible tokens (NFTs) represent verifiably scarce and portable pieces of digital property. Their programmable nature mean they can evolve and emit more and more innovative features.

The potential for NFTs is essentially unlimited as blockchains become global transaction ledgers for both natively virtual property and physical property (or at least, their digital receipts).

This potential multiplies as we spend more of our future lives in virtual worlds (the metaverse). NFTs will become some of the primary building blocks for everything in that world.

Why then do they deserve enthusiasm?

NFTs help solve what the internet is missing, in particular, are ways to verify ownership, authenticity, and credentials — the things that make it possible for creators to get paid for their work.

Proving digital ownership, NFTs: 1) connect users to a universe of creators; 2) give both parties provable ownership of their virtual assets across. Their value lies within being low fee and also eminently portable, for they can operate on any platform that trusts the blockchain.

NFTs are the core concept of ownership of the internet, there will be a broad utility.

Giving digital authenticity, NFTs give a verifiable link between the creator and his/her work. Thanks to the blockchain address (whether on the Ethereum or Solana network), we know who time stamped it on the blockchain when the NFT…