Cryptocurrency is a digital currency encrypted with coding to protect its online movement. Consider how credit card transactions move electronically. Understanding computer language as all ones and zeroes is like trying to understand crypto for many people. You don’t have to be a math or engineering genius to understand digital currencies, although a grasp of automated currency movement is helpful.
NFTs are digital tokens or coins like cryptocurrency. NFT stands for non-fungible token, which means it’s not duplicatable. Each NFT has a unique identifier that prevents it from mimicking other NFTs, so there’s no chance of duplicating transactions.
NFT marketplaces buy, sell and traded digital products. NFTs are currently sold on OpenSea and Foundation. You can buy, sell, or trade NFTs with a crypto wallet, a storage center for cryptocurrency. Every evolution brings controversy, including digital currency.
Many financial analysts are concerned with how decentralized cryptocurrencies will impact the environment. The volatile crypto market has many speculating its true worth in the global economic markets.
Value changes with each generation. You might wonder why digital art is so valuable when anyone can view it online. The difference between physical and digital art is minimal regarding ownership. People can still look and admire, but ownership is what determines the value.
Digital art gives the artist new and significant earning opportunities. The term “starving artist” is fading into the background and being replaced by art purchased with NFTs. Artist Jen Stark sold her first NFT on Foundation for 150 Ethereum (NFT Tokens) or USD 410,292! Her art sells traditionally and digitally around the world.
Stark is the first female crypto artist to make the top ten selling creators list. This achievement demonstrates how NFTs will change the college curriculum.
College degrees lead to higher-paying jobs, and as the world moves towards the metaverse, education must follow. STEM subjects are excellent academic choices and will continue to lead higher earners with expertise in digital currencies.
Bringing NFTs to college means students could sell their art while learning, and much of the debate about canceling student loan debt could be settled. Students could earn a staggering income which could secure their education debt-free.
As pandemics force the globe to be more generous with its resources, it’s easy to see how old traditions such as student loan debt, costly textbooks, and limited earning opportunities for college graduates are revolutionized.
These new growth opportunities create a more prosperous environment for people and the planet. Less product waste such as fuel and carbon emissions improve our environmental health and make a more efficient use of our resources.
Experiencing a trip to famous museums such as The Metropolitan or The Louvre will always be a wonder, but expanding access to art in our homes can create the most intriguing dinner parties.
NFT artists hold online auctions to sell their art. Hosting bidding events from home, online meetings, or other small gatherings is an exciting way to bring back social events.