Cryptocurrencies have been a constant source of controversy. As the popularity of digital coins continues to rise, so do the questions of their legitimacy and usefulness. While it’s impossible to tell what will become of the crypto landscape with a degree of accuracy, it is worth noting that the understanding of blockchain as a technology is still in its infancy.
As such, we’re already seeing new ways to approach the world of digital assets. Non–fungible tokens, or NFTs, are representative of a new perspective on the possible value created by blockchain technology.
In light of recent global events, more and more investors are looking to digital assets to secure their portfolios and hedge against our chaotic planet. However, as they started trending up, people were starting to take notice and the mass adoption of digital assets began in full. After, we have seen a sort of soft revolution of the financial markets wherein crypto and other digital assets has become a mainstay.
Now it is not uncommon to meet many people who hold some form of digital asset. Whether it be an NFT, Bitcoin, Dogecoin, Ethereum, Meta Real Estate, etc. the market has never been more active. Even in the face of pressure and criticism the digital movement only seems to grow. NFTs are certainly a new thing but it is only a matter of time before we see another innovation in the digital space.
Crypto is now a multi-billion dollar industry that shows no signs of slowing down no matter what gets thrown at them. This is primarily due to its separation from the traditional currency markets and its foundation, based on years of developing blockchain technologies to create a steady and safe alternative. However, in the beginning, it was a more fringe concept that people had a hard time grasping without using the ‘scam’ word. Now, through the tumult and rocky weather, crypto is seen as the hedge for the everyman and is continuing its rise as a legitimate asset. Now that it’s taken more seriously (we even have a crypto.com arena) crypto has a bright future as a digital asset that will be heralded and chided for years to come.
The digital revolution has transferred most of what we know about the world to the virtual space. This includes everything from checkout lanes to bowling alleys, from museums to battlefields. Of course, the finer arts of humanity have joined in the fun and have created an entirely new form of fine art. DFA (digital fine art) is an incredible art form that combines the aesthetics of fine art with the principles of graphic design to create truly awe-inspiring pieces of art. This digital art explosion is also one of the contributors to the rampant proliferation of NFTs and the fervor felt over certain creators.
The market for such an industry is justifiably much larger than the traditional art world due almost exclusively to access and technology. DFA has also brought about a legitimacy to computer-based designs as a fine art form in line with any Picasso or Matisse. The future for DFA is bright as many people from all over the world find themselves drawn to it for its manifold forms of technology and humanity.
Fortunately, blockchain technologies have been so successful that it has drawn a new era of developers to it that seek to create an even more stable base for their creation. The draw of a true alternative to traditional finance through technology is too good of a deal to pass up for many developers. As the proof of success grows we will continue to see a migration of developers who believe in a blockchain future.
While NFT artwork sold for millions may steal the headlines, there is much more at play than merely the buying and selling of speculatively-priced JPEGs, PNGs, and GIFs. NFTs could represent a new way, or perhaps a sort of prototype, to create value in a digital economy
Enterprises are beginning to see the potentialities of digital assets in an increasingly digital-first world. As cryptocurrencies continue to see wider adoption from established institutions, we also see a greater legitimacy to NFTs and other blockchain-based assets, tools, and applications.