YAPSnacks: Are NFTs a Fad or the Future of Art?

Are NFTs a Fad or the future of art?

 

Today on YAP Snacks, Hala takes you on a journey to learn about NFTs, the cryptoart that top entrepreneurs and investors are backing as the next big thing that shouldn’t be dismissed similar to the dot com boom in the late 90s.

 

NFTs are the latest cryptocurrency phenomenon to enter the mainstream – they turn digital works of art and other collectibles into one-of-a-kind, verifiable assets

 

While the concept of NFTs have been around since 2012, they’ve exploded over the past year. In 2020, the market grew by 229%, reaching $250 million in value. And, in February 2021, more NFTs were traded in 24 hours than in the entirety of 2020.

 

In the crypto space, hype is definitely par for the course. But this feels different mainly because the mainstream hasn’t just taken notice. They have skin in the game— from fashion brands like Nike and Louis Vitton to sports brands NBA/ NFL, to musicians like Kings of Leon and Grimes. They all are putting their hats in the NFT-ring, creating NFT-based consumer goods and services.

 

So are NFTs the future? Or is the NFT craze just a bubble stemming from increased online activity following the pandemic?

 

Well the good team at YAP have investigated the topic and we are here to give you the facts, so you can better understand what NFTs are, and decide if you want to get involved or just let it be another crypto trend you let pass by and fade away.

 

This episode is sponsored by Olay, and Betterhelp.

 

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