A Non Fungible Token (NFT) is a digital asset, which is publicly verifiable intellectual property authenticated on a encrypted public ledger aka Blockchain and can never be tampered with or faked.
NFT art is tokenising your digital art on one of the many available Blockchains, mainly Ethereum, using specially created smart contracts, which allow trade of ownership for digital assets.
Digital artists can mint 1/1 or edition runs of pieces of their art and sell them for crypto currency on one of the many platforms dedicated to the service.
The platforms available to artists who want to go this route offer smart contracts that give royalties (usually 10%) to the creator when an NFT art piece is sold on the secondary market, this is basically unheard of in the pyshical art world (apart from Germany's 4% artists fee laws) and is a major factor for the growth of these new Digital Art Platforms, every day more well known artists are starting to take notice.
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Nifty Gateway is the exclusive digital art and collectibles platform. We partner with select artists and brands to launch drops of valuable, rare NFTs.
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Gamers will be taking advantage of this tech more than most, not just for VP but all ingame items like weapons, vehicles, skins, characters etc, will not only be fully tradable within the games own economies but can also be carried over from world to world.
Plus the added bonus of fully tradable AAA digital games.
Musicians will finally be able to make full profits from their content in the same way NFT artists are, the music industry is roughless and pays very little to the artists themselves, NFT tech is changing this now.
Trading cards, comics, art, events tickets, coupons Etc.
The use of NFT goes beyond the realm of collaterals. It has the capability of representing more complex financial products. These products can be insurances, bonds, options, car or property deeds.