Collecting art pieces always interested us. A piece of art that is one of its kind and is priceless. Unique things have a very important role in our lives. We can clearly say that it’s a part of our human nature that we like to own things. It’s not about the use of the thing. It is the uniqueness that has more value.

A painting, book, map, and sculpture are examples of collectives. As you know that these are really common things. So what makes them unique?

The rarity of the things makes them unique. A book that was printed in the 1600s is one of its kind in 2022. The same goes for art and paintings. The value of art and paintings increases with the artists who made them as well.

Some art pieces that are made in the 1950s can be as valuable as ancient things. An ancient relic can be very valuable. But it can lose its shine if it is compared to art which has more value in our society.

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This being said, the definition of art is changing with time. If you travel back in time and tell someone that art can be a non-physical thing, then who will believe you? The answer is no one.

Luckily we don’t have to travel anywhere. We all know the importance of technology. Everyone knows about blockchain and cryptocurrency in the current era. Maybe not everyone but most people do. People are trying to invest more and more in cryptocurrency. And the trust in the blockchain is increasing every day.

NFTs are blockchain tokens– non-fungible tokens. NFTs are like digital assets; they can be a piece of art, book, video, picture, etc. In simple words, NFTs can be anything. It is widely considered that cryptocurrency is the currency of the future. It is also changing the way we look at art and owning things that we can see physically.

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With blockchain technology, NFTs are very secure and trustworthy. It can’t be manipulated or damaged. But its value changes simultaneously with the cryptocurrency market. The NFTs deal with Ethereum cryptocurrency and it can be bought and sold only with Ethereum. And in order to do that you need to have a crypto wallet. And through that wallet, you can purchase an NFT.

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Cryptopunks were the NFTs that caught people’s attention in 2017. The value of NFTs depends on their uniqueness which can be related to culture, history, and the artist who made it. Value also depends on time as well. The NFTs created in 2017 have more value. Though NFTs have been sold at a higher price and were created later–2021 mainly. Though the trends in a particular area can increase and decrease the value of NFTs. And as we have seen the value of cryptocurrency increases and decreases rapidly–sometimes, it is highly likely to happen with NFTs as well.

Traditional art and culture do not deal with this uncertainty. And this creates more uncertainty related to NFTs. While some people are still trying to digest the concept of NFTs. And some people are making millions from them. Their value–may be–and numbers will increase in 2022.