A few years back, NFTs were pretty much a specialized niche with no intention to bring more people into the community. Jump to 2021, and NFTs are on mainstream media, social networking sites, lifestyle tabloids, and household conversations.
However, from a skeptical point of view, NFTs are still very niche and a large section of the world does not even have an idea of its existence. While that argument has merit, it cannot deny the meteoric rise in the popularity of NFTs. Today we see top celebrities from movies to sports endorsing and launching NFTs. Top soccer teams like Barcelona and Real Madrid have their NFT collections, as does leading fight promotion UFC. Legendary artists like Mike Shinoda have launched their music on NFTs, as have a huge number of music and art creators.
To understand the growing popularity of NFTs, we have to examine their underlying vision. The concept of true ownership is very alluring in an age of piracy. Artists, in particular, have found a safe space to earn a living from their creativity, and NFTs have changed the lives of many.
NFTs have come a long way from their inception, and today, they are a subject of public discussion. However, it still has a long distance to go to be a true alternative to traditional mediums of art and culture. Present data of NFTs show that it has great potential. In the future, we might see NFTs being as common as audio and video recordings.