What the heck are NFTs?

A friend of mine just sold 5 NFTs, which is awesome for him! I responded, “That’s amazing! Very, very cool! Also, what are NFTs?”

OK, I didn’t say exactly that because for one thing, he told me in a text. Secondly, I have a vague idea of what an NFT is. What I can’t figure out just yet is why anyone wants an NFT. From what I’ve found out so far, they’re basically a one-of-a-kind digital asset (a picture, GIF, or whatever) that someone can purchase and own, with no one else being able to “own” that image or animated thing unless the person who bought it resells it.

I wouldn’t even call it a craze yet, but if this NFT thing blows up, will it look more like the Beanie Baby fad from the 90s, the fidget spinner frenzy from a few years ago, or something like Bitcoin where, once people get on board, it has staying power? 

I hardly know what these things are so I definitely can’t say one way or the other whether they’ll catch on or not. Or maybe they already have and getting some skin in the game now is a day late and a dollar short. 

Do you have experience with NFTs? If so, were you buying or selling? Comment below and let’s get the ball rolling on what these things are and what their future might be. 

Thanks for stopping by!

-Out of the Wilderness