Today everyone is talking about NFTs. Even several major video game companies, such as Square Enix, intend to incorporate them into their future releases. In fact, Ubisoft itself has already started experimenting with the implementation of NFTs in Ghost Recon Breakpoint. But what the heck are NFTs and why are they so controversial? Here we explain it to you in a simple way. NFT means “Non-Fungible Token”, which in Spanish would be translated as “non-fungible good”. In other words, it is a property that you cannot exchange for another like it. Money, for example, is fungible since it is possible to exchange a $ 20 peso bill for an identical one of the same value. Same case with cryptocurrencies. Many people describe NFTs as “digital works of art.” You can take a photograph of a painting in any art gallery, but that does not mean that you already have the painting in your possession. You can save the JPG of an NFT, but as such you do not own it. To work, NFTs use something known as blockchain technology, which is applied in cryptocurrencies. This type of technology works through a network of computers with different interlaced digital blocks, which are protected with the use of cryptography. In other words, it is impossible to modify the data of any NFT since they are recorded in real time. Each NFT has its own “certificate of digital authenticity”, which is made up of a series of metadata that cannot be altered. Within this information you will find things like its sale value, as well as all acquisitions or transactions that have been made and of course, the name of the original owner of the NFT.
An NFT can be anything that exists within the digital world; from an image, to a video, GIF, and in the case of video games, cosmetic accessories for your avatar or character. People tend to buy these digital tokens because their value tends to increase over time, but it is not necessarily a guarantee that they will, so do not plan to spend all your savings on one of them.
Editor’s Note: If you ask me, I think the trend for NFTs will not reach beyond 2022. As much as various video game publishers and brands seek to incorporate them into their respective media, I feel that the community will not receive them very well. way to the point that they will have no choice but to eliminate them. Via: The VergeThe post What is actually an NFT? first appeared on Atomix.
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