NFT’s: What are they and what’s their value?

If you have been following recent crypto related news, you may have heard about NFT’s. People have been buying these digital items for hundreds of thousands of dollars. But what are they and do they really have any value? Read on to find out more.

NFT stands for Non-Fungible Token which is a unique and non-interchangeable unit of data stored on a digital ledger (e.g. blockchain). It can represent photos, audio and video and digital media as unique items and uses blockchain technology to publicly verify proof of identity.

Currently, the largest blockchain network handling NFT’s is the Ethereum network. However, due to the increasing price of transaction fees in Ethereum, more and more NFT projects are being released in other networks. Notable ones are Polygon, Solana and more recently Cardano.

Since NFT’s are only digital representations of the art behind them, is there any value to them? To answer that question, one just needs to look at the quantity and value of NFT sales. This goes to show that the value of an object depends on the value placed on it by the purchaser.

As with any investment, you can earn a lot from NFT’s but you can also lose a lot. Therefore, treat it like a stock and only buy low and sell high.

Speaking of NFT’s, WISH Pool just air-dropped exclusive “WISH Pool Pioneer” NFT’s to all significant delegators with more than 100ADA delegated to WISH Pool. This is in gratitude for their loyalty to WISH Pool for the past few months.

There are only 20 NFT’s minted in this batch so these NFT’s are extremely rare. In the coming months, we are planning to release new NFT lines to the public with possible airdrops again for our delegators. Watch this space and continue delegating to WISH Pool for more surprises in the future.

WISH Pool is the creator of Cardano SPOT Check, an online resource for Cardano Stake Pool Operators for maintaining their nodes. We are actively helping several Cardano communities and are a recipient of IOG’s second delegation round in 2021. If you like this article, we would greatly appreciate if you delegate your ADA to WISH Pool. You will be earning interest rewards while indirectly helping the lives of disadvantaged children. This is because WISH Pool pledges to give at least 10% of its own profit to educational charities so that successful students can help get their families out of poverty. Let’s help grow the community together!

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