We are certainly not recommending these as an investment, but we are watching the development of NFT’s and as such, thought it worth giving you a little background on them… of course a great chart from our friends at Visual Capitalist set us on our way….
NFT Definition
This from Investopedia
WHAT YOU NEED TO KNOW
- NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated.
- NFTs can be used to represent real-world items like artwork and real-estate.
- “Tokeninzing” these real-world tangible assets allows them to be bought, sold, and traded more efficiently while reducing the probability of fraud.
- NFTs can also be used to represent peoples identities, property rights, and more.
NFT’s and Their Ecosystems
This great Chart from our friends at Visual Capitalist:
Have a Great “NFT’s Explained” Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.