NFT’s or Non Fungible Tokens are a new digital currency powered by crypto. We are currently living in the two-dimensional phase of the internet. But with plans for the metaverse well underway, we are being introduced to assets, currency and everything you will need to exist successfully in the matrix. NFT’s are one of them. NFT’s are a way to prove digital ownership – just like a receipt or a signature, they allow creators absolute ownership with no space for bootlegging or theft. Unlike all existing currencies like the USD or bitcoin, this one is non-fungible. This means it cannot be exchanged for something else. It is unique and one of its kind.
How an NFT works
- NFTs are built on blockchains
Blockchains work as distributed public ledgers where every transaction is safely recorded. No one can fraudulently claim ownership of an NFT they did not buy or create. Nobody can replicate an NFT they did not create or buy. This technology is revolutionary in all creative industries where theft, bootlegging and royalty fraud is common.
- NFTs can be any type of Asset
A digital asset has infinite possibilities. This is because we haven’t fully tapped into the potential of the digital world, and technology is the most progressive aspect of our present-day lives. At the moment, we have witnessed NFT’s be visual art, music, movies/videos and even apparel. (That game played by millions of people example). In the future, NFT’s will replace physical assets the way the internet has digitized physical services.
Example: People used to go into brick and mortar stores. Now they conveniently access stores from their websites or digital platforms like social media. In the future, NFT’s will replace the goods from physical stores for goods in the metaverse. Can you imagine buying a virtual t-shirt? Or visiting the Louvre using an NFT experience.
Why are NFTs here to Stay
- Unique Ownership Protection
While many people are excited to be riding the wave created by the current “bubble” – purchasing basic NFT’s at inflated prices because of the value. Many experts foresee this bubble popping or, rather, the whole thing as a way for rich people to launder money. However, we must not forget that NFT’s are not limited to visual art, and all of them are unique. As explained above, as the world of virtual reality evolves, so will the different uses of NTF. It is the first time in creative history where an invention can be accurately traced to its owner. This first of its kind technology is not only groundbreaking, but it is also fixing a big problem that exists in the world, which is theft.
- Our Internet in Virtual Reality
There is no denying the impact social media has on our ordinary lives. With almost 4.8 billion users worldwide, that is slightly above half of the world population. Anyone who doesn’t use at least one social media platform is probably an infant or a monk. And when Facebook, the world’s biggest most popular social media platform, reintroduced itself as the Meta, short for metaverse, it is clear that we are at the advent of virtual internet evolution. Mark Zuckerberg and his team are not the only ones preparing hardware and software for this virtual reality internet. According to Reuters November 2, 2021, publication companies like Amazon, Microsoft and Roblox are fast-tracking to build the universe.
NFTs and SEO
The climate for most NFT creators at the moment is still volatile. Navigating new territory is never easy, however like any digital platform, buyers looking to purchase NFTs still go to search engines, amongst other things. Therefore anyone looking to increase their chances of customers getting to them can use Search Engine Optimization strategies. Investing in effective SEO will help you remain visible online.
- Collaborate with an NFT Agency to help your NFT website rank
- SEO will help you sell your product
- Structure your website for Google search
- Use SEO-optimized titles for the product.