What are NFT tokens? And why do people spend so much money to get it? Could this be a glimpse of what the future will look like or could we witness the creation of one of the biggest bubbles of all time?
What are NFT tokens? And why do people spend so much money to get it? Could this be a glimpse of what the future will look like or could we witness the creation of one of the bigNew digital investments worth hundreds of thousands of dollars, and perhaps more, are surfacing at a time when everyone is looking for wide opportunities to accumulate huge fortunes in record time, and without much effort. The Corona virus and its successive mutants were able to create the appropriate environment to embrace and crystallize this type of speculation in the digital money market, in light of the deteriorating economic conditions, the absence of real job opportunities, and the bankruptcy of many companies, as a result of repeated closures around the world and other reasons.
gest bubbles of all time? NFTs (non-fungible tokens) investments tend to grab the headlines these days, due to the high numbers associated with their sales, possibly related to the boredom hitting world celebrities, and pushing them to spend thousands and hundreds of thousands and millions of dollars for digital monkeys, so we find the global artist Justin Bieber buys boredom monkey with code #3001 for $1.3 million, rapper Eminem, who spent $462,000 to buy the monkey with code #9055, and famous footballer Neymar, who spent $1 million to buy two bored monkeys , which have the codes #6633 and #5269.
strange technology "NFT" is a token that can be traded, but is not exchangeable. These tokens have been around since 2012, and they exploded during the year 2020, as the market grew by 229 percent, reaching a value of $250 million. In February 2021, more NFTs were traded in 24 hours than in all of 2020
untapped potential
The king of the cryptocurrency “Bitcoin” had a rough start to the year, declining by about 6.9% since the beginning of 2022, but the market for the non-fungible digital currency or “NFT”, unlike the case of “Bitcoin”, has flourished with investors, institutions, companies and celebrities who started By accumulating digital tokens, such as those whose value is steadily increasing.
important relationship
Experts advocate NFT technology and point to its role in health care, as one day it will enable individuals to take control of their health data, and possibly make money from it, as personal health care data is bought and sold all the time.
Today, it is easier than ever to create and collect health data, thanks to wearable devices, screens and sensors. Even genomic information can be accessed inexpensively, thanks to services that allow individuals to analyze their DNA information.
NFT future
Returning to the wild NFT trading, it is clear that it is still early days. So far, the trade in NFTs is largely speculative, which means there are a lot of unknowns as of now. Let's say you want to resell your NFT from meme, will you find a buyer who will pay you enough to at least get your money back?
Despite all the rumors that this technology is just a fad that will soon be gone, it is estimated that there are currently about $78 trillion in non-bank assets globally, and “NFTs” are a wonderful revolution that could replace many laws and practices in a simpler and more transparent way to unlock these Assets and interaction with them. So, the real question is not whether NFTs are here to stay, but rather whether banks will take steps to adapt or will they continue to believe that the world cannot move forward without them?
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