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First Web3, then Crypto. The Next Step? NFTs.
Digital, decentralized, unique, and very, very valuable. NFTs are much more than blockchain art.
The World Wide Web has entered its new iteration which has been called Web 3.0, most commonly ‘web3’. Basically, it is a decentralized online world based on blockchain technology (blockchain is a list of records, or blocks, linked to one another using cryptography and therefore virtually impossible to hack).
The idea is that one doesn’t have to trust in banks, study complicated contracts, rely on social media, or have to go through any other middlemen for business.
The most known of this expression is so far the ‘cryptocurrency’, a trend that has spread massively in the last five years or more and which sees the likes of Elon Musk as figures involved.
The next wave in this new virtual world? NFT. Non fungible token.
If cryptocurrency is exchangeable, as 1 Bitcoin is exactly the same as another 1 Bitcoin, NFT is unique and immutable, hence the word ‘fungible’. In real life the parallel is a 5 dollar bill is the same as another 5 dollar bill…
