NFTs

The effects of NFTs on the internet have been a mixture of both good and bad. For starters, you may be wondering “what are NFTs?” Well, in simple terms, NFTs are non-fungible tokens, tokens that are digital and one of a kind. Sources of audio, video, and picture, sometimes drawings and music that have been designed to give you ownership of your work while also ensuring that they will not be copied. Anil Dash, author of NFT’s Weren’t Supposed to End Like This, says, “ The only thing we wanted to do was ensure that artists could make some money and have control over their work…But these changes left creators at the mercy of companies far more powerful, far more ruthless, and far less accountable.” The existence of NFTs while changing issues of distribution and selling for artists, have put those same artists in difficult situations consisting of copyright and obtaining control over their work and merchandise. However, NFTs have also helped those artists and influencers make a larger income, form and maintain connections, and market themselves. Prior to this advancement many artists were posting their work online, which gained them recognition, but not profit. Apps like Pinterest and Tumblr were used by art and art lovers to post, repost, save, and send those same pieces of artwork to their friends and family, raising productivity, incoming users, and income for the creators of those said apps, but not for the producers and creators of the art. Aside from art, there are many other things that NFTs change. For instance, virtual reality, video games, and even collectible investments(print books, trading cards, and stamps). Such advancements have and will continue to change the internet, technology, and the people that use them. What Are NFTs And Are They Here To Stay, by Tyler Gallagher states, “In theory, there’s little stopping people from one day owning digital documentation wallets containing driver’s licenses, immunization records and even birth certificates minted by sovereign states.” NFTs will produce many advancements in all things physical. From education and art to business and the media, NFTs are encouraging many aspects of our everyday lives to evolve, adapt, and reconstruct. To reiterate, the impacts of NFTs are a combination of good and bad. While consumers and manufacturers have seen success and progression they have also seen setbacks and regression. Whether NFTs will aid or hinder a person, business, or product will depend on the subject and the elements at hand.

Elizabeth Perry