What are NFTs?
Dogecoin Investing Oracle NFTS
NFTs are a fairly new concept within the online art community. It can be an overwhelming concept if you aren't even familiar with crypto currencies. NFT stands for "Non Fungible Tokens" and is essentially digital versions of either graphic art or pictures of physical art. It can even be a meme, gif, video, a website url, and the list keeps growing.
As an artist, you can potentially list an image of a painting or digital image you created and it would sell to the highest bidder in the form of crypto currencies. You can then hold onto that crypto payment and see if it continues to grow, or cash it out for a USD currency.
Why do people buy digital art you may ask? Think of it as cutting out the middle man, the art world. Art has become a symbol of wealth and power, where the rich collect paintings such as Jackson Pollocks and it increases in value and shows off how much wealth they have.
Now apply this concept to NFTs for a new generation of crypto wealth. This concept allows you to purchase digital art within a digital portfolio. The digital art can then be traded amongst other NFT collectors.
You can explore NFTs to invest in here.
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Leitner Studios Blog
Author: Justin Leitner
Fine Artist/ Freelance Graphic Designer/ Instructor