NFTs and Digital Collectibles: Having Fun With it

Over the past few months, demand for NFTs went through the roof, with some of the most priced NFTs fetching up to $69 million. Suddenly, everyone either wants one or is making one. But what are NFTs really? And why should anyone care?

The best way to experience a new technology is to explore, play around with features and have fun with it. This can only be achieved through genuine interest and exploration. Yet, when it comes to the blockchain and cryptocurrency ecosystem ,most people are eager to make a quick buck (nothing wrong with this) but miss the real substance of this nascent technological infrastructure: the endless possibilities that the blockchain is ushering in.

That is why I put together these few paragraphs, to take you on a journey that’s a little disconnected from the day to day price action of crypto tokens on exchanges. In this essay, I explore the concept of NFTs, define a few instances where they are currently in use, and even share a few of my own adventures into the digital world of NFTs.

It is hard for most people to understand NFTs when it comes to their application, because for most, they take a product approach. Yet, NFTs are very heterogeneous in nature, and can’t therefore be reduced to a singular product.