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Showing posts from March, 2022

How is NFTs Worth?

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  NFTs or Non-Fungible Tokens have suddenly surged in popularity. NFTs are selling for thousands of dollars but these things look like it's just creating value out of air. I'm an economist and I want to help you understand the economics of the  NFT Marketplace Website . What gives them value and actually helps you see that the concept of NFTs has been around for a long time. And I think to understand the scale of what's going on here. We need a banana so NFT stands for a non-fungible token before. You can understand what and not is you need to understand what these words mean now token means that this is something stored on the blockchain. But what does non-fungible mean and how it is different from something that is fungible when I think of fungible things the first thing that comes to my mind because I'm an economist is dollar bills are fungible? What that means is imagine I present two dollar bills to you I can ask you to choose one of them I can mix them up again

What is the NFT Marketplace Scope in 2022?

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  There are all sorts of digital things that people are purchasing version of them for lots of money. There are three simple letters that you need to understand to understand what's going on here. Those letters are NFT Marketplace . Now to the latest trend that's sweeping the internet. What is exactly is an NFT? Does that stand for not safe for work? What does this mean? - Why would you pay for an NFT when you can look at it for free? Is this a gigantic bubble just waiting to burst?- I believe in this space with my whole heart.- I'm just fascinated by it, all of it.- This story is much bigger than a $600,000 cat gif. Or a three million dollar tweet. It's a story about human psychology and how the way we value things is shifting because of technology. A technology that some people think may revolutionize our society, while at the same time accelerating the climate disaster. It's really nuts, it's all of these things together and I wanna explain it to you, so le