It's not exclusive to the rich. One article makes you change your outlook on NFT

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The original author isexlawyer.eth/tez, compiled by the way of DFI:

Editor's note: Why are you not optimistic about NFT? The article analyzes the future society under the blessing of NFT and encryption technology. NFT is no longer superior, not exclusive to the rich, but actually integrated into our lives.

Suppose that NFT we are talking about here is only cryptoart, an aesthetic enjoyment of visual art, rather than tokens related to membership and other benefits (such as bayc), otherwise our analysis will be changed.

Based on this definition, let's talk about why you don't have enough confidence in the long-term prospect of encryption art becoming not only a high-end art, but also the main sharing mechanism of all visual arts (except TV and movies).

This paper will be divided into three parts:

  • Part 1: brief introduction of NFT related technologies
  • Part 2: application of this technology
  • Part 3: are you optimistic about NFT now?


Part I: brief introduction of NFT related technologies


Why can encryption art exist? NFT technology realizes undisputed, distrusted and provable ownership of digital assets. These digital assets are independent of any company, have durability, and the data is widely decentralized.

These features jointly create "digital property", which is very similar to "physical property" except that it is invisible itself.

In other words, or from the perspective of Art: if you take down a piece of art with only one piece from my wall, I can still be 100% sure that it belongs to me. Similarly, if you take out one and only one NFT (or a numbered version, such as version 721) from someone's wallet, they can still be 100% sure that it belongs to them.

When you can identify the ownership of digital property as you can identify physical property, it creates a sales market for digital property, because digital property is endowed with value. Thus creating a market for encryption art.

The most important feature of NFT technology is also the basis of homogeneous token technology - for us, the only conceptual difference is that one is a unique property, and the other is a replaceable digital property.

So what does "fungible" mean? Let me give you the simplest example. Suppose you have one dollar and I have one dollar. What's the difference for you if we exchange each other? And the two dollars are exactly the same, there is no difference between old and new.

For you, it's certainly the dollar difference. The value of both notes is $1, and they are all the same. Now you know the foundation of cryptocurrency and NFT technology.


Part II: application of this technology


Today, the application of cryptocurrency and NFT technology mainly lies in some interesting things - Art and games - as well as financial transactions - pledge, lending, transfer and so on. There are also some other applications, but these are the aspects that ordinary consumers will use every day.

In the next few years, this technology will be integrated into our daily life. We will have a lasting digital identity on various social networks. We will use cryptocurrency to pay bills or shopping (maybe usdc or something).

Finally, you will have a digital ID issued by the government and connect it to a wallet. Then you can use this ID to electronically sign documents to prove your identity.

The realization of these applications is attributed to the characteristics of cryptocurrency and NFT technology - provable ownership, durability and flexibility. These characteristics will completely change the interaction between people and the storage and transfer of information.

How will it develop in the future? To sum up, cryptocurrency and NFT technology will be completely integrated into our lives. If someone tells you that he doesn't use this technology, it will be like someone tells you today that he doesn't have a smart phone (maybe he can't survive in modern society without this technology).

Cryptocurrency and NFT technology are being integrated into our daily life. At the same time, display technology will continue to improve, and ultra-high resolution, thin and light displays will become more and more affordable. Display technology will be able to show anywhere you want to go, show art, show anything you want, which will be possible.


Part III: are you optimistic about NFT now?


We are about to enter the era when everyone uses NFT and cryptocurrency, just as frequently as passwords, credit cards and government issued IDS today.

At the same time, we will also enter an era in which the display technology is of high quality and the equipment is thin enough to be placed anywhere in the home and affordable to all.

When you combine these situations with the worldwide sales potential and the exposure of crypto Art - crypto artists can sell their works and immediately transfer them to anyone anywhere in the world - you can see the potential of crypto art.

Encryption art has the potential to become the preferred way to sell and display visual art (except for film and television, which still needs streaming media). High end artworks will continue to be sold digitally as encrypted art through NFT technology.

In addition, we will see concert commemorative posters, limited edition art in films, posters of athletes and models, and "prints" of famous art, such as the Mona Lisa and scream. Basically, any visual art can be sold as NFT.

When people are used to using this technology like using smart phones and TV remote controls, and the quality of the display is very high, any visual art you want can be provided in the form of NFT, which creates an environment: homeowners who are looking for perfect paintings for restaurants may consider using a perfect encrypted art work (or several, because switching is very simple); It allows children to switch bands and movie posters, family photos or anything they want in their room at any time.

This enables people not only to buy digital art, but also to be willing to do so, because they are used to interacting and living in the digital world.

So, are you optimistic about the long-term prospects of encryption art now?


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