NFTs and the world of NFTs

Dear Readers,
The market places for Non Fungible Tokens are increasing rapidly. This development helped many to explore and created way for earning opportunities. 
Let's discuss on NFTs in detail through this article.
What is a NFT?
A non-fungible token is an unique digital identifier that cannot be copied, substituted or subdivided. That is recorded in a blockchain, and that is used to certify authenticity and ownership.
Few examples of NFTs

• Various forms of Digital Collectibles.
• Domain Names.
• Video Games.
• Essays.
• Sneakers in fashion line.
• Meta Verse Assets.
• Real World Assets. 
• Blockchain Identity.
• Memes etc.,

What are the uses of NFTs?
The uses of NFTs are plenty. Following are few of them.

1. Digital art: NFTs have become increasingly popular in the art world as a way to authenticate and sell digital artwork, music, videos, and other digital creations. NFTs provide a way to verify ownership and provenance of digital artwork, which was previously difficult to do.
2. Collectibles: NFTs have been used to create and sell unique digital collectibles, such as sports trading cards, virtual real estate, and virtual pets.
3. Gaming: NFTs can be used in games to represent in-game assets, such as weapons, armor, and other items. This allows players to own and trade their virtual items outside of the game.
4. Ticketing and events: NFTs can be used to create digital tickets for events, such as concerts and sporting events, which can help prevent fraud and scalping.
5. Charitable Donations: NFTs can be used to raise money for charitable causes, with the proceeds from the sale of the NFT going to the charity.

These are just a few examples of the many possible uses for NFTs. As the technology continues to develop, we can expect to see even more innovative uses of NFTs in the future.
Advantages of NFTs
There are various advantages of NFTs which are include the following: 

1. Unique digital ownership: NFTs provide a way to prove ownership of a digital asset that is unique and cannot be replicated. This is particularly important for digital art and other unique digital creations, which previously lacked a way to establish ownership and provenance.
2. Scarcity and value: By design, NFTs are limited in number, which can create a sense of scarcity and exclusivity that can increase their value. This is particularly true for rare or one-of-a-kind NFTs, which can command high prices.
3. Royalties: NFTs can be programmed to automatically pay royalties to the creator each time the NFT is sold or changes hands. This provides a new revenue stream for creators and allows them to benefit from the increasing value of their work over time.
4. Fractional ownership: NFTs can also enable fractional ownership, where multiple people can own a portion of a digital asset and share in its value. This can create new opportunities for crowdfunding and investment in creative projects.
5. Authenticity: NFTs can also help to establish the authenticity of digital assets and prevent fraud, as each NFT is unique and can be traced back to its original creator and owner.

The Popular NFT Marketplaces

• OpenSea
• Rarible
• Super Rare 
• Nifty Gateway
• Binance
• Axie Marketplace
• Cryptopunks/ Larva Labs
• NBA Top Shot Marketplace
• Foundation
• Theta Drop
• Mintable

Can NFTs considered as a good investment tool?
The most expensive NFT was sold at 532 million USD by Cryptopunk. With the development of the marketplaces, one can even create a NFT with simple process, convert the masterpieces into NFT and list for sales/auction. 
NFTs are an exciting new medium for collecting digital art, but they're no good as investments. The odds of losing some or all of your money on an NFT investment are extremely high. And with Blue Chips and index funds still around, you simply don't need NFTs to become independently wealthy.
What is Bill Gates remark on NFTs?
Bill Gates is not a great enthusiast of cryptocurrencies and the Non-Fungible Tokens. He said an earlier interview that one should not probably watch out if he/she had less money than Elon Musk. He expressed last year (2022) that the Crypto Currencies and the Non Fungible Tokens (NFTs) were 100% based on greater fool theory and even joked that the NFTs are expensive digital images of monkeys. He also categorically admitted that he was not involved in Crypto trades. In a recent Ask Me Anything (AMA) meet organised by Redditt, he expressed that he liked the Artificial Intelligence (AI) is the best revolutionary technology that he likes. 
What would be the Future of NFTs?
NFTs are a rapidly evolving technology that has the potential to revolutionize many industries that exists as of now. From art and music to gaming and finance, the uses for NFTs are diverse and exciting. We can expect as technology advances, more creative and innovative use cases for NFTs may emerge in the future. All forms of certificates may there be there in the form of NFTs.
Compared to the increased interest in NFTs, the year 2022 was a tumultuous year for the NFT space, a report published by Verified Market Research (VMR). However the report anticipates that the total NFT's market cap would increase to $231 billion by the year 2030.
There are various crypto tokens that are associated with the NFTs. Even coinmarketcap website has a separate section on this. You can get through this with the link provided below. 
https://coinmarketcap.com/view/collectibles-nfts/