Sunday, December 10, 2023

How NFTs evolved from a farce to a serious asset class

The most hysterical buzzword around is NFTs – NonFungible Tokens. NFTs came around in being around 2017, and they were literally laughed off. But, with the sale and purchase of the initial NFTs, the entire terrain changed.

A lot of value in the capital markets and the world of riches is based on perceptive value. Perceptive value is the value that we – as humans and members of society – attach to a particular commodity and/or service. When NFTs came into the picture, they attained a lot of social perceptive value. They were seen as classy, an asset of the rich, and a scarce opportunity.

NFT Regulation

The world of NFTs is still a bit unregulated and bizarre. On one hand, there are cartoons and abstract drawings selling for exorbitant prices while on the other hand, there is actually meaningful content being traded. For example, Jack Dorsey sold his first-ever tweet as an NFT. this tweet, by all means, is a part of history. It marked social discussion and the social media revolution. So, such NFTs are rather beneficial and imitating the concept of the auctions – selling rich crucial items to the ultra-rich. On another side, NFTs of lines, drawings, etc are doing rounds that do not mean much sense.

Future is NFT

No matter what people say about NFTs, it is the future. And, it is here. Mega companies are turning essential goods into NFTs. There are conglomerates working towards building platforms for NFT exchanges. Even closed countries like China are known to be building a reliable platform for NFT and Cryptocurrency.

Let’s see what the future holds for NFTs. So far, it is showing a green bull run with more interest and higher activities.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular