Many people mistakenly believe that NFT'S are all about Crypto Punks, Kitty's , And the now hella famous BAYCT Bored Ape Yacht Club. Not only are those the most surface level of NFT applications but they are also probably the most likely to go to zero for most projects.
So first, what is an NFT? truth is you already know what it is. So I will define it in terms that make sense. If you have two houses on the same block with the same square footage and same amount of rooms, they will still not sell for exactly the same price. The reason being, the way the light hits them will be different, the way sound is amplified will be different and time to the main streets and highway will vary.
Even though they may look the same, due to their location they are not able to be valued the same. They are non fungible. Where as that dollar in your pocket is as good as any other dollar and can be switched out and used without a hitch. This is fungible.
So in terms of Crypto one Bitcoin BTC is as good as any other. For a Crypto Punk or any other unique asset they are not able to be swapped out for exact price. Being that they are unique so this is a non- fungible token. This applies to the Metaverse as well.
So one of the NFT's I personally hold several of in my portfolio are domains. I use these to receive payments, to receive NFT's, as well as for permanent ownership of my identity on the blockchain. There are many applications for these domains. The ones I currently hold are on the Ethereum blockchain and can be used on polygon to extremely reduce gas fee's.
Some of you may be wondering still why this is so important. Well with a standard domain it is owned not by you but a CENTRALIZED entity. You must renew this name annually and it can be taken from you at any time, as well as they profit off your data, not you. With the domains I use it solves all of these problems and more. this is why I use Unstoppable domains.
I hope this has helped you see that there is more to NFT's than simple JPEG's and by the 2030 I believe 90% of people will be having an NFT in a digital wallet. Such as a drivers license, insurance card, recites, etc.
There is time to get ahead of the curve and dive into web 3 before you are stuck in a consumer position. If you need help diving into the crypto world we do offer consultations. As well we have a fire news letter that dives into these topics as well. Happy Bank Trappin Cuzzins!