NFT Art Royalties: The Creator Economys Untapped Goldmine
Imagine owning the original tweet of Jack Dorsey or a digital artwork that only you possess. This is the world of NFTs – Non-Fungible Tokens – a revolutionary technology reshaping digital ownership and creativity. But what exactly are these tokens, and why are they causing such a stir? Let's delve into the intricacies of NFTs and explore their potential impact on various industries.
What are NFTs?
Understanding Fungibility and Non-Fungibility
To understand NFTs, we first need to grasp the concept of fungibility. A fungible asset is interchangeable with another asset of the same type and value. Think of a dollar bill; it's fungible because you can exchange it for another dollar bill, and it holds the same value.
NFTs, on the other hand, are non-fungible. Each NFT is unique and cannot be rep...