NFT

NFT: Between Technology, Art, and Speculation

Introduction: What’s Really Behind NFTs?

NFT (Non-Fungible Token) is a digital certificate of uniqueness recorded on the blockchain. Unlike cryptocurrencies, which are interchangeable (1 BTC = 1 BTC), each NFT is unique.
The technology enables verification of ownership over digital assets: from images and music to virtual real estate and gaming items.

Yet behind the public hype lie both opportunities and risks.

1. Technological Basis: Why NFTs Are More Than Just “Pictures”?

1.1. Blockchain as a Guarantee of Authenticity

Immutability of ownership history.

• Transparent transactions.
• Cross-platform integration.
• Interoperability — NFTs can be integrated across various platforms, including games, metaverses, and marketplaces.

1.2. Smart Contracts and Royalties

Automatic payouts to creators upon resale.

2. NFT Applications: Beyond Speculation

2.1. Digital Art and Collectibles

• New monetization channels for artists.
• Investment opportunities in digital assets.
• Experiments by museums.

2.2. Games and Metaverses

• True ownership in virtual worlds.
• Play-to-Earn models.
• Decentralized worlds such as Decentraland and Otherside are building their economies around tokens.

2.3. Rights and Certification

• Fighting counterfeits.
• Document management innovation.

3. Criticism and Risks

3.1. Environmental Concerns

• High energy consumption (pre-merge Ethereum).
• Alternatives like Solana, Tezos, and Polygon are more environmentally friendly, but less widely adopted.

3.2. Fraud and Legal Uncertainty

• Fake NFTs and market volatility.
• Bubbles — artificially inflated prices followed by a sharp collapse.
• Regulation — in many countries, NFTs operate in a “grey area” concerning taxation and intellectual property rights.

3.3. Liquidity Problems

• Most NFTs lose value after the first sale.
• The market is driven more by speculation than by fundamental value.

4. The Future of NFTs

4.1. Real Utility

• Tickets, access rights, tokenization of real-world assets.
• Tokenization of physical assets such as real estate and luxury items.

4.2. Decentralized Identifiers

• Digital passports for Web3.

4.3. Integration with AI

• Generative art innovations.

Conclusion: Should NFTs Be Taken Seriously?

Yes, if:

• You’re a creator or Web3 enthusiast.
• You are interested in Web3 and decentralized technologies.
• You are prepared to face high risks and volatility.

No, if:

• You’re only chasing quick profits without understanding the tech.
• You are not interested in the technology itself, but solely in its speculative aspect.
• You are not willing to delve into crypto wallets and blockchain technology.

NFTs are not just “digital pictures” but an experiment in new forms of ownership. Time will tell if they spark a true revolution.