What's an NFT? New craze in the digital world explained
A new craze is sweeping the digital world, and it is summed up by three letters: NFT.
You have heard of Bitcoin, right? That is digital currency, or cryptocurrency, and it has been around for years. Now the crypto world is branching out into art, and they call the creations a non-fungible token, or NFT.
"It's a collectible or collector's item that is digitized," said Alex Kurkowski of tellinga.com.
Kurkowski is no stranger to the art world.
He started a Houston-based company that creates personalized art on post cards that tell a story.
Couples typically send them to each other to memorialize special occasions.
Now Kurkowski's snail mail art can be yours at 5G speed as a non-fungible token.
Kurkowski has digitized some of his artwork, and a buyer can purchase it on an online ledger or block chain.
NFT's can be anything, from emojis to video clips.
Some NFT's recently fetched millions of dollars, but most sell for far less.
Artists or anyone else can create their own NFT's for keepsakes or even to sell.
Kurkowski's company, tellinga.com, has a group of artists who can help turn your idea into digital art.
Unlike artwork of old, every time an NFT is sold, the original artist gets a percentage of the sale thanks to the information embedded in the block chain.
To show the world your NFT, simply use your smart phone.
"You can just very easily show them, 'Hey, look at this cool NFT I created," said Kurkowski.
There are a couple of websites you can browse through.
If you want to make an NFT, you have to create an account. You will use cryptocurrency to buy an NFT.
