How to Make MILLIONS of Dollars in SECONDS!

There are plenty of ways in this world to earn a steady income to live an average life. But, as we arrive at the future of technology, advancements in online cryptocurrencies, like Bitcoin and Ethereum, we stumble across something known as an NFT.

NFTs, also known as non-fungible tokens, are built on blockchain technology. In simple terms, this means a record of secure transactions made that are public. Though NFTs are not a cryptocurrency, other cryptocurrencies like Bitcoin or Ethereum also follow the blockchain method. A “fungible” asset is the idea of something being able to be traded off that is at the same value. Sort of like how we spend on average $2.00 for one water bottle. An NFT is not that, hence the “non-fungible.”

NFTs are commonly used for drawings, paintings, and other goods that can be stored in a virtual wallet, that will gain value over time, just like a cryptocurrency like Bitcoin would. Once placed in a virtual wallet, they can be sold or traded, which is comparable to a real-world asset. When you buy an NFT of a drawing, for example, you now own that drawing. No one else in the world owns it. Sort of like if you were to buy an exclusive drawing off the streets, except now there is a virtual receipt that shows no one can own the drawing or try to resell the same one, except for you.

An example of an NFT that made the artist Winklemann $69.3 million was titled “Everydays: The First 5000 days.”

Everydays: The First 5000 days, is a compilation of over 13 years worth of artwork. Winkelmann said in a press article that “It's a bit surreal, because (digital imagery) wasn't something that I pictured, in my lifetime, being able to sell… so it (has) come out of nowhere. But at the same time, I also really feel like this is going to be the next chapter of art history."

NFTs are not new in any way though. They have been around for years, but now with the endorsement of big names, like Elon Musk, the hype of NFTs has started and will grow even larger in the upcoming years.