In this section we’ll explain what NFT’s (non fungible tokens) are and why everyone seems so excited about them in the last few months of 2021.

To start with the crypto world likes to use odd sounding words and phrases almost like they wanted to confuse everyone from the start.

The word fungible.

A fungible item is an item that can be easily replaced by one that looks just like it A non-fungible item is one that can’t be easily replaced because it is unique.

So an NFT is basically a proof of ownership .

It just so happens to represent something as being a one of a kind unique item and it is digital.

Its usually representing a digital piece of art or music but soon it will represent so much more like a contract like a real estate deed.

It got some publicity late in 2021 for being ridiculous when it turned out that the craziest things were called NFTs and sold for hundreds of thousands of dollars.

For example Jack Dorsey the founder of Twitter had his very first Tweet sold as an NFT for almost $3 million.

Two of the most expensive NFTs community tokens out there now are called Crypto Punks and the Bored Ape Yacht club where each NFT sells for hundreds of thousands of dollars each.

For now, you can simply think of an NFT as a piece of digital art or music that is bought and sold on certain websites like OpenSea and are given a unique number which makes them easy to track on whats called the blockchain.

This number gives every NFT owner an absolute right of ownership of this one individual digital asset.

So this way of proving ownership with the Internet and the blockchain, is one big reason why professional musicians and world reknowned live or dead artists are so excited about how they have a new way to protect and make more money from their art or music.

But NFTs will soon be used for more than just art and music, they will refer to your avatar and virtual house that you buy in the metaverse and perhaps contracts that you sign for things and all kinds of complicated things to come in the future.

But back to understanding NFTs since we just brushed upon how one category of NFT users thos being successful artists can gain by converting their assests to digital NFTs.

So in a way there are two big categories of NFTs.

There are those simpler NFTs that are created more to foster a growing community around them and then there there the simpler or more complex NFTs that are made specifically to make as much money as possible or to simply solidfiy the artists ownership of their art.

So lets say a few things about the simpler category of NFTs which deals more with the original philosophy of cryptocurrency and the original NFT.

Crypto was made as a way to give people the ability to easily be their own banker and use money globally without having to get permission and pay fees to bankers.

It was a community type philosophy of helping the little guys around the world.

NFTs started with a similar idea of letting the average person create some type of art and build a community around it and share in the monies generated so they could improve the community and the art that is the NFT.

This is all well and good but with humans being a greedy creature by nature there will alwasy be those who are excited more about making a fast dollar than in building a community.

So those people will make money and the properly run community has ways to keep money in the community and allow it to grow.

So you can grow a commumity and you can make money but sometimes finding that balance is diifficult.

But you need to know that if you are a person older than 30 then you may be confused why all these kids are so excited about little furry kitties and doggies and space men.

Well…thats part of it.

In a way, this fascination with childhood things and our youths great love of video gaming is part of it.

Its almost like the rave dance culture of 20 years ago where young people would put on funny furry hats and drop extasy drugs and have fun with their community.

Now NFT has nothing or almost nothing to do with raves or extasy but you almost get that same vibe when you see these sparkly or furry freaky cartoon characters and how wildly excited the people are as they buy them for $1,000 withhout thinking.

Ten years ago we saw this emotion with products like Nike running shoes and Superb tshirts.

The term Drop was big 15 years ago and its made a comeback with NFTs.

Back in the day people would hear rumors that Air Jordans or Superb were releasing a new item in a week and then you would get people lined up by the hundreds 2 days before the sale to buy the item.

Now you have NFTs announcing their launch and then thousands of people go online to buy these items and the price skyrockets overnite and sometimes millionaires are instantly created.

So you will hear the terms community and projects thrown around alot and this hearkens back to the originnal philosophy of cryptocurrency and NFTs where everything is luvvy’ duvvy’ about hugging each other and hugging our furry cute digital cats and dogs:)

You will also hear terms which we’ll explain in another section like burning and staking, DAO, utility tokens, Ethereum and Ether, launch pads, teams, Metamask, wallets,

(under construction Dec 16, 2021)