First of all, what exactly are NFTs?
NFTs (Non-Fungible Tokens) are digital tokens that serve as a certificate of authenticity. That doesn't make it any clearer, does it?
For the moment, just know that NFTs represent the ownership of unique digital items that can be anything in the digital world, such as a song, a picture, a video, a book, a game item, and so on.
Why are NFTs so important in this day and age?
There is nothing new about digital assets. A song? an artwork? Online items? Mobile phones are constantly saturated with them, and since the beginning of the internet, there has been an advantage to having easy access to all of these contents.
However, one crucial component is now missing from the internet: who owns the digital assets on it?
Here's where NFTs come into play: with NFTs, internet owners will now be able to precisely attribute ownership to their content. They are ideal for converting digital items - which are easy to copy - into unique items.
How are NFTs able to attribute digital ownership?
It may seem strange to you that digital ownership can only be determined now and we agree with that because the web is nearly 30 years old,. However, there is a new variable which has altered everything in the last few years: the Blockchain.
I could go on and on about the blockchain, but that isn't the point of this article. The important thing here is that you can clearly understand these 3 things:
- The blockchain is the technology that makes NFTs possible;
- NFTs live on the blockchain;
- The blockchain attributes ownership, is immutable and decentralized.
You may think that NFTs are just digital assets to make money through speculation
Don't make this mistake! After reading this brief overview on NFTs, hopefully you have been able to grasp that there is much more to them than speculation - although some of them do involve speculative and trading elements.
In spite of the fact that speculation gets most of the attention, this is only because we are still in the early stages of this amazing technology. The real power of NFTs lies in three things: Community, Support and Utility, which will become increasingly important as time goes on.
What is your role?
We are a blockchain startup founded by creators, musicians, and blockchain enthusiasts
and our goal with the development of this app was to make the web3 world more inclusive, making it easier for fans to purchase exclusive music singles.
Currently, not more than 0.2% of artists are able to live exclusively off of their music. Our mission is to support more and more artists and increase that number. With NFT, we truly believe we will change the future of music and the relationships between artists and fans. We look forward to working with you to achieve this goal.
We thank you on behalf of all of the artists for your support.