Does the Future of NFT Lie in Financial NFTs?

Setting the record straight on Financial NFTs.

Photo of “Everydays — The First 5000 Days”, a collage of all the images that the artist known as Beeple has been posting online each day since 2007.

The boom of crypto has caused tons of investment options for people. After all, there are over 4,000 types of cryptocurrencies in existence so far in 2021, most of which are either worthless or are bound to fail soon.

However, another investment option has come to light. It is known as the NFT. But one thing has to be made clear: NFTs are not a type of cryptocurrency.

Now, if you do not know much about NFTs, I would recommend you do some in-depth research. By that, I don’t mean, just read comments about NFT on Reddit. To understand what NFT is, according to Forbes, it could be “practically anything provided it is virtual and cannot be touched or handled in a physical sense”.

It could be a digital work of art, digital collectibles, or even a person’s tweet or real estate. The thing that makes NFTs unique is that it is a non-fungible token — therefore, it is one-of-a-kind and cannot be replaced by anything else. They can only have one official owner at a time and they are secured by the Ethereum blockchain.

Does the future of NFT lie in financial NFTs?

Since its boom, these non-fungible tokens have become underutilized, more often than…