It seems almost anything can be sold through NFT (non-fungible token). Jack Dorsey, CEO of Twitter, sold one of his tweets for millions of dollars.

So, is this the new Gutenberg Bible? 

Now let's hold on for a second! If you do not know what the Gutenberg Bible is, please stop whatever you are doing and go back to the sixth grade. (OK – just kiddin’)

However, if you are following, then you understand my analogy. In other words, if you can tokenize a tweet as an NFT then you can sell pretty much anything digital.

Remember, Crypto Kittys?

Well,Crypto Kittys was one of the first and more impactful NFT’s on the Ethereum blockchain. Rumor has it, they slowed things down for days.

Now, in my opinion, these Crypto Kittys are cute but not very useful. They are like small children, but in electronic format with no dirty diapers.

Problem is, around December of 2017, the Crypto Kittys craze was slowing down Ethereum so badly that many other more useful or economic transactions were being held up. Millions of dollars had been spent on creating and breeding Cryto Kittys. By the end of 2017, these little digital phenomena where red hot.

Who says you cannot make money with the blockchain! (Be sure to read our other articles on the basics of the blockchain.)

Other more recent examples of NFT’s are digital artworks, parts of games where gamers can buy a specific location inside the gaming world, videos, rare sneakers, and music.

Creators, this is prime territory. An opportunity for you to be able to make money on your inventions, designs, or ideas!

Remember, much of this is very new. NFTs are still in their infancy. So, there may be some seller’s or buyer’s remorse along the way.

You can just imagine what the headlines might say, “Da Vinci distraught over tokenization of Mona Risa, realizes painting of her sister Mona Lisa would have been more profitable...”

And, whereas we can imagine robust marketplaces for well-known artists to sell electronic versions of their works. Like, Bruce Springsteen tokenizing and selling the first 17 versions of his recording of “Born to Run.”  We still must be diligent about what and who we trust with our money.

Like art itself, the value of an NFT is in the eye of the beholder, or more likely in their digital wallet that supports NFTs.

The NFT marketplace is a key factor for creators.

Understanding the NFT marketplace is a key factor for creators.