The concept of digital art is not a recent creation. For years, artists have been able to upload, sell, and promote their work online.
The problem that has always faced by them, however, is the authenticity of the product.
Since any digital art can be easily copied on a computer, a major challenge was which digital art was original and how to add value to the original artwork.
Non-fungible tokens (NFTs), which translate to non-substitutable tokens, have emerged to solve this challenge.
NFTs are digital assets that are sold with a code structure similar to that of cryptocurrencies and guarantee ownership.
This may be difficult to understand, so let me explain.
NFTs allow you to attribute the "mark" and code behind the original work, making it easy to determine who holds the original work.
This means that it is possible to give unique interaction and utility to those who own the original work, making the concept of simply copying and storing an image worth nothing compared to real digital art.
It can be thought of as similar to real world paintings. It is easy to buy a reproduction of an original, but it is possible to determine which is the original. And originals always have a very high value over reproductions and forgeries.
NFT can also add high value and rarity to digital assets, thereby rewarding creators appropriately.
Some of the most common and popular utilities include art-related, trade cards, games, and gated communities.