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NFTs, Non-Fungible Tokens

One of the most innovative Kyma Team project is following a startup of two Italian musicians who have introduced us into the world of NFTs.
It seems that, lately, everybody is talking about them, but what exactly are them?

NFTs (Non-Fungible Tokens) are digital certificates registered via Blockchain that attribute to a user the ownership of a digital file, such as an image or a video, that a creator/artist has decided to sell.
People have always attributed an emotional and aesthetic value to works of art or even just football cards, and are willing to pay a lot of money to get them. Digital media, however, has never been able to have the same value because it can be easily copied, shared and stolen. However, NFTs rely on the Blockchain, a permanent public ledger that produces a certification, in this case of authenticity, that cannot be altered or erased.

For example, a NFT of a video clip of LeBron James dunking was recently sold for more than $200,000 on NBA Top Shot, a website that allows users to buy and sell NBA video clips.

Will NFTs dictate the future of digital art and beyond?

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