Editor’s Note: SOFREP encourages our members to submit content to us for publishing consideration. Today we begin a series by Miguel Castro who is writing about NFTs or, Non-Fungible Tokens. It may seem like a rather nerdy topic for a site like SOFREP, but NFTs are becoming important in the digital world we all partly inhabit for better or for worse. They establish a right of ownership of the software code medium that becomes art, music, computer programs, and even real estate in virtual worlds. Most NFTs are bought and paid for with digital currency like Bitcoin and Ethereum thus representing an entirely digital economy of virtual products paid for with virtual currency.
If you spend at least a couple of hours meddling down the internet rabbit hole, whether you’re visiting news or entertainment sites, spending time on social media, or even playing games, you will have probably come across the acronym NFT and some very insane news about the money they might be worth. But very few articles actually give you an in-depth guide on what they are, how they came about, where they are going, and of course, how to get involved in that sexy, but very confusing new internet world.
This series of articles will try to answer these questions.