There are a whole lot of people out there who think bitcoin and other cryptocurrencies are all nothing more than a useless pile of rubbish, with no real monetary application.
On the flip side, and as we’ve highlighted several times in the past couple of months, there is a growing list of major companies led by PayPal (PYPL), Tesla (TSLA), JPMorgan (JPM) among others, who firmly believe cryptos are the wave of the future and will eventually become and the international currency one day.
Both sides have legitimate arguments, which is why the world still remains very much at odds on the viability of cryptos. But as millions of investors are cashing in on the crpyto craze, others in the former group are sitting on the sidelines, scoffing at the notion of a digital “currency” ever really being more than a commodity while missing out on real profits.
Well, as it turns out now, you don’t have to be a staunch supporter at the front of the crypto picket line to cash in anymore. In fact, it appears you can now even make money mocking the digital dollar movement.
By now you may have heard of NFTs, or Non-Fungible Tokens. They are part of the latest trend of people becoming Crypto Artists and it’s catching like wildfire.
But what exactly is an NFT?
It’s essentially a digital piece of media—say, an online picture, a movie, a song, or whatever—with one magical difference. You register it on a blockchain, which is like a gigantic, sprawling online register based on roughly a gazillion private computers around the world. The same technology used for bitcoin and the like.
The process is pretty simple really. So take an image or picture you have on your laptop and upload it to an NFT (ie, “crypto art”) site. You pay a few fees, register it on a blockchain, and voila, you’re a Crypto Artist. And some of these things are selling for millions.
Perhaps cryptos are just one of those things a lot of us will never completely understand, that will always have a cult following of users that stash bitcoin like it’s gold. And perhaps that’s ok. But that doesn’t mean we shouldn’t be able to make some money off their hobby, right?