The endless conflict

NFTs is an acronym for Non-Fungible Tokens.

Non-Fungible in the sense that they are unique and cannot be interchanged like fungible assets such as Bitcoin. Let’s take for example if you exchange a Bitcoin to get another, nothing changes, you still get the same Bitcoin back — it’s the opposite in the case of NFTs.

Each NFT has a distinct signature used to designate and verify ownership of assets — there is no two original copy.

NFTs are digital assets that are usually representations of real-world objects such as in-game items, videos, music, collectibles, virtual assets, and arts.

Same as physical art, four factors contribute towards the value of an NFT art — how expensive it becomes.

The first is the “market-driven value”, which depends on the speculated resale value and popularity of the artist. The second is the “subjective value”. It involves the moral statement or political message that is conveyed by the art — how it makes you feel.

Another value determinant of NFT arts is the “objective value”. This involves the experience and technical skill by which it was created. Lastly is the “historical value” the piece of digital art has.