09/01/2026
NFT - what is it and should I purchase one?
First I do NOT sell any of my artwork for an NFT.
An NFT = is a non fungible token. It is a digital image of something. Most people are investing in NFT‘s in hopes it will increase in value, an investment.
An NFT is not an item you can hold in your hand, hang on your wall, wear, or use. It’s a digital image, period. It’s stored on a blockchain, similar to Bitcoin or crypto currency.
Example- Julian Lennon (with permission of Paul McCartney) created an NFT (image copy) of the handwritten words and creation of one of the Beatles songs. This NFT is now for sale for over 50,000. It’s a copy of the original piece of paper it was created on.
I personally would not purchase an NFT unless I had funds to throw away. I want an item I can hold in my hand, hang on the wall, or use in some way. Personally I think NFTs are a fad and poor investment.
To date- the NFT market is dead!
The NFT market has collapsed along with cryptocurrencies, which are typically used to pay for the assets, at a time when central banks have jacked up rates to combat inflation, and risk appetite has withered.