Cryptocurrencies – hype or a new trend?
The date of appearance of cryptocurrencies is considered to be 2009, when the legendary Satoshi Nakamoto published his article with the principles of the Bitcoin system. By the way, the term “cryptocurrency” itself appeared a little later, in 2011, with the publication of a well-known article by Andy Greenberg in Forbes.
In the same 2011, the first alternative cryptocurrencies appeared – the so-called altcoins. They were Litecoin and Namecoin. Their appearance has become a sign of the new time. A time when financial settlements again become possible without the control of governments and without public money, as when people settled in gold.
At the same time, the new digital “gold” knows no boundaries and distances, and expensive safes are not needed for its storage. It is enough just to remember twelve words (variants of 18 and 24 words are also possible). Well, or write them down on a piece of paper and hide them in a safe place. Moreover, you can even pay with this piece of paper in the same way as with cash, without computers and the Internet.
But, like real money, the basis of the value of cryptocurrencies is their recognition by society. And they still have serious problems with this, especially at the institutional level. Although the recognition of their existence by the governments of the leading world powers, such as the United States and Japan, indicates that this is a trend that has come in earnest and for a long time.
What is NFT?
What place do NFTs occupy in the cryptocurrency system? The abbreviation NFT literally means non-fungible token. And, in fact, NFT is a digital certificate associated with a certain object, also digital. Moreover, the right to own this certificate does not necessarily apply to the object. The objects are most often digitized or initially digital works of art. NFTs are also used to sell game artifacts – weapons, armor, characters and much more, even a YouTube video or an online casino electronic token. No deposit casino bonuses can hardly be such an object. But information about them in electronic format is quite for itself. Such a certificate can be bought and sold.
How to get into the trend?
2021 can safely be called the year of the NFT. The market just exploded. Prices for individual tokens reached hundreds of thousands of dollars. To store the token, it is enough to have one of the common wallets, such as, for example, Metamask or Trust. And no storage for art collections. Buying and selling is also not a problem. All of the above makes you think about the investment potential of this instrument. Also, with the help of NFT, you can monetize your creative essence. You can make your works available to the general public and thereby open up new dimensions of contemporary art.
Source: Plato Data Intelligence: PlatoData.io
