My Top 3 Blockchains for NFTs
Non-fungible tokens (NFTs) exploded in 2021 and brought cryptocurrency and blockchain technology into the public consciousness. NFTs are essentially tokens on a blockchain like Ethereum (CRYPTO: ETH) or Solana (CRYPTO: SOL) that represent ownership of a unique asset. These assets can be anything from a piece of artwork to a character in a play-to-earn (P2E) game or even a plot of digital real estate in the metaverse.
People often ask why NFTs have value or staying power. My answer is that just as the lines between our digital lives and physical lives continue to blur, the lines between physical and digital artwork and memorabilia will similarly fade. In my view, NFTs can also be viewed as a 'status symbol' in that they have cachet and can convey prestige or status to the owner. This is something humans have been doing since ancient times. This isn't to say that all NFTs are worthy of investment -- like any type of collectible or artwork, some projects and pieces will have more staying power than others. Prominent artists like Dmitri Cherniak and Tyler Hobbs have created projects like Ringers and Fidenza as NFTs, indicating that the worlds of traditional art and NFTs are increasingly blending.
Blockchains have enabled NFTs because they have facilitated the possibility of exchanging them almost instantaneously and because they give the owners instant provenance; there is a public record of the authenticity of the NFT, who owns it, and the details of all of the transactions involving it. Investors who are interested in NFTs can start looking for them and buying them on exchanges like OpenSea and Magic Eden. Here are my top three blockchains for buying and selling NFTs.
Source Fool.com
