Looking Beyond NFT From Million Dollar JPEG Energy Hogs To Its Value Proposition

The value of digital content can be captured in NFT (Non-Fungible Token), a type of cryptocurrency that is stored on the Ethereum blockchain. This allows anyone to create a token or tokens for their digital content and sell it in an open decentralized marketplace. The NFT industry emerged in 2020, as prices of minted tokens soared based on their demand. NFT include drawings, songs, music, gaming rewards, video clips, tickets, novelty items, and just about anything digital or physical that can be tokenized. The NFT is not the content itself, but it is what gives access and ownership to the content. NFT falls under…...