Non Fungible Films: Discover Why People are Buying NFTs

If you want to buy NFT’s, then the first place to start is going to be the world of Non Fungible Films. Non Fungible Films is a new company in the NFT and cryptocurrency world where you don’t need to focus on the bottom line, and neither do they. The company believes that whenever you are focusing solely on money and the income that you will make, then it is a complete race to the bottom as you try to take the people enjoying your content for everything they are worth.

However, the world of NFF is focused on keeping their people around because of value. The value that their stories and the shared universe of the multi metaverse can bring to the world. They have heroes, villains, gods, and ordinary characters who are not only able to go on heroic adventures written by the staff, but are also able to be used during creation of the communities own stories.

The business of Non Fungible Films is going to keep growing, and as more and more of the mainstream media starts to connect with the world of Web3, who knows how many items it will touch?

An NFT stands for Non Fungible Token, meaning that you can’t exchange it for something of equal value or divide it in any way. Additionally, because it is a form of cryptocurrency, you can’t see it, touch it, use it off the internet, and it isn’t allowed in most mainstream stores or shops- though this is changing.

So why are people not only buying NFT’s, but also spending millions on things with them? NFT’s have gotten into the mainstream media, the world of art, and even into the world of video games, and it can be hard to understand what makes them so great in the first place. However, this article is going to give a try at showcasing what NFT’s are, and also why people seem to be buying them in droves.

What Is An NFT?

An NFT is a Non Fungible Token, backed by cryptocurrency and it can be spent on blockchains. Additionally, these tokens which primarily manifest as artwork, each have data inside of the images that marks each token as uniquely yours. So, whenever you purchase the image on your computer, you have the barcode that says the image is yours.

You aren’t buying the picture itself, because the internet will always copy and paste new versions of said picture into existence, but you are buying the property rights to the picture, the piece of code in the blockchain. While it doesn’t seem like much, that is very valuable if you play your hand right.

NFT’s are collectables, and like all other collectables, having the original is going to be better than having the cheap knockoffs or the reproductions.

How Are NFT’s Bought?

Well, most NFT’s are bought using cryptocurrency. You can buy cryptocurrency to fit inside of your cryptocurrency wallet, and then go to an NFT marketplace  where something you want is sold. For example, let’s say you want to buy a pixelated avatar. You would go to a marketplace that sells pixelated avatars, and then either buy it like anything else online or buy it at auction.

Once the auction is over or your transaction goes through, then you own the property rights, the avatar, and can brag about it. Then you can store the NFT on your computer, use it, or even go to the marketplace yourself and resell the NFT to get the whole process started over again.

Why Do People Buy NFT’s?

It seems almost silly to pay millions of dollars for a digital art NFT that people can get for free by simply right clicking a file and copying, but people are putting some serious skin in the marketplaces and the NFT game. For one reason, it’s the collectors item aspect of it. While the value of an NFT might not increase the way a vintage book or mint in box action figure would, having the first of something triggers a response in a lot of people.

Additionally, with the U.S dollar having a lack of trust among the people, crypto is another way to invest money and prepare savings. Additionally, people see the decentralization and consumer focused control around cryptocurrency as a massive plus for it.

Finally, it gives you a way to connect with the creator of the piece of art. Think about how you would feel if you could buy an original Van Gogh or other art pieces painted by a master, now you can have that same feeling but with modern art. You are buying directly from the creator and you hold the ownership, so there will never be another piece quite like the one you have on your computer.

More Mainstream Appeal

While NFT’s might seem like stuff only the super wealthy and the super smart can get into, the world of NFT’s and cryptocurrency is slowly becoming more and more mainstream as things move forward. Companies, celebrities, and others are all getting into the world of non fungible tokens, and efforts are being made to ensure that this new land of opportunity is accessible to everyone.

The rise in mainstream appeal, as well as the process of creating NFT’s getting easier, means that more and more people are joining the market and more and more people are buying NFT’s. If it reaches enough appeal, NFT’s could be just as accepted as currency as the dollar is in the world, and that’s something people are trying to make happen.

Whether NFT’s are just a fad or another bubble that might rise too high and then burst, it does look like they are here to stay in our world. People are buying NFT’s for all sorts of reasons, and if you decide that you want to get in on the world of non fungible tokens and cryptocurrency, then you might need to discover your reason too.

Related Stories