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NFT

NFT’s are a type of  digital asset that represent real-world objects like art, music, in-game items, videos and anything else that can represent a unique entity. More than just an image, an NFT represents the transaction in the blockchain that is illustrated by an image. They are bought and sold on online marketplaces or p2p portals that curate the buyers themselves.

Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. The market for NFTs was worth a staggering $41 billion in 2021 alone, an amount that is approaching the total value of the entire global fine art market.

You can view the individual images, or even the entire collage of images online for free, But  NFT allows the buyer to own the original
item. With the hash being a built-in authenticator, collectors no longer need to pass by an appraiser to validate the product, rather this
validation is secured by a public blockchain and is accessible by all.

For music, this creates a unique market type, where the artist can generate the hash, input their IP rights, and mass market their product
in a fan 2 fan ecosystem. Supporters of the music or financial speculators can in turn buy these assets and market them on their own
platforms without passing by a publisher or streaming platform; bottle-necked by the algorithm. Free market capitalism in the music
industry has a new name, and it’s Non-fungible tokens!