23/09/2022 International NFT Day: Why is it celebrated and what's the road ahead?

NFTs are cryptographic tokens that use blockchain technology to verify their ownership and cannot be replicated and are used to represent digital and real-world items such as artwork and real estate, allowing these assets to be traded.

With the rising popularity of non-fungible tokens (NFTs), September 20 is now getting observed as the internationalNFT dayby the crypto community.

InternationalNFTday celebrates the creation and use of NFTs. The term was coined by Dapper Labs Chief Technology Officer Dete Shirley in the form of the ERC-721 standard on the same day in 2017, marking its existence.

NFTs are digital assets that can be stored, transferred, and traded just like traditional assets. They provide a secure way for people to exchange information and money without having to trust third parties.

NFTs are cryptographic tokens that use blockchain technology to verify their ownership and cannot be replicated and are used to represent digital and real-world items such as artwork and real estate, allowing these assets to be traded.

Why is it celebrated?
International NFT Day is all about celebrating the creators and collectors in the NFT community. It’s also a day for people to learn about NFTs and get started with their own collection.

Edul Patel, CEO & Co-Founder, Mudrex said NFTs are an innovative technology that has rapidly gained momentum over the past one year.

"They are capable of replacing the physical paper documents in every sector, ensuring better security. NFTs will soon be a part of our everyday lives for their unique way of proving ownership," he adds.

Tarusha Mittal, COO, and Cofounder of UniFarm said NFTs act as important connecting links between the physical world and metaverse. The NFTs offer a unique way of ownership for the global audience, she said.

The NFT-based wealth creation is gaining momentum as every digital art form like videos, audio clips, graphics, memes, digital art, movie posters, and music can be sold at a higher value based on the buyer’s interest, she added.

Way ahead
The popularity of NFTs is surging across the globe and might lead to an interoperable group of metaverse, where cryptos will be the biggest currency to buy anything and everything.

Over the years we could see the shift from simply purchasing digital photos, videos, and assets for games, to buying real estate, other assets and stocks, suggested Raj Kapoor, Strategic Advisor, Yunometa.

The latest VMR report pegs the NFT market in 2030 to touch $231 billion. In the near term, the gaming industry and luxury brands are likely to tap the potential of this space, experts suggest.

We are, very soon, looking at a day when NFTs will be as common as credit cards if not more, believes Kameshwaran Elangovan, Co-Founder & Chief Operating Officer, GuardianLink.

"People would be so used to the convenience, dependability, and transparency of NFTs that it will become the de facto standard for digital collectables and gaming assets."

Arts

https://economictimes.indiatimes.com/markets/cryptocurrency/international-nft-day-why-is-it-celebrated-and-whats-the-road-ahead/articleshow/94322480.cms

Interesting NFTs
Genesis
José Delbo sent me his striking pencil sketch and powerful inked work, which I then interpreted in oil on canvas. I wanted to create a very painterly piece with obvious brush marks etc, but I was also aiming for a nostalgic feel, a kind of 1980’s superhero comic book look, the kind I grew up with. My goal with this animation was to try to recreate, in part, the creative process that both artists went through with the visual information I had. I was able to showcase my painting process more accurately as I could take photographs of my progress throughout. Consecutive images could then be layered like brush strokes over José’s drawing to create the impression that this was one continuous artwork from pencil, to ink, to completed painting. The representation of the line sketch at the beginning, then pencil/ink and lastly the paint layers being applied demonstrate both artists’ struggle for the right lines, tone, form, and colour until the work is finally completed. As the oil was still wet with each photograph the glare of my studio lights can be seen in the brush strokes. Eventually, the figure emerges and as it does, our hero comes to life, looking directly at the viewer -- but is he grimacing in approval or disgust? We will never know for sure as just before he can say anything, white paint is brushed across the canvas entirely and the process begins again. Only the bat is quick enough to escape.
Yello Dude
Sup playa! I'm Yello Dude. I want to live in a world where people believe that one day cats will rule this planet. When my owner isn't watching, I steal their brooches and use them for litter paper. I'm not sorry. Maybe you and I can be partners in crime.
The dirty cape
Personal project
Forms of Love
The ever changing piece, that took you to understand the 10 forms of love. attach string to each of it,connect and try to understand it. how do you perceive it? it's up to you, it's part of me but also part of you at the same time. just don't use logic too much, we never live there anyway from the start.
taNNa
conceptual art. drawing and digitally processed.