NFT: a chance to change the face of the latest fashion and digital culture in the world of technology

“Does NFT Make sense in the Developers’ Market?” The president of Cyfrowa Polska noted that the technology of unchangeable tokens is still alien – both artists and art audiences in Poland.

“NFT actually needs more education and probably more regulation,” he said. We are cautiously optimistic about the technology, but we are aware of the great potential of tokens, “he said.

According to him, digital art is naturally compatible with NFT technology, but it can potentially be used by any creator. “The question is, do artists have the appropriate technological knowledge? The market is not ready for the development of NFT, because the subject still often raises many negative emotions caused by ignorance, “he said.

It will be difficult to regulate NFT

The participants of the discussion also spoke about the prospects for its regulation and the existing public opinion. “The regulation of NFT is a difficult issue, because it must be considered from an economic point of view, from the point of view of the creator and in the context of copyright. Although we are dealing with this issue, we must be careful not to kill the market, which has a chance to change the face of the digital circulation of culture, “said Michał Kanownik.

According to the President of Cyfrowa Polska, NFTs are now often taken in the fashion wave and as part of financial speculation, which damages the image of the technology. “There are still a small group of buyers who are loyal fans of NFT creators and investors who have a great interest in the arts, and they should be the basis for the development of this market,” he said.

I have NFT. What to do with it? “

One of the recipients of NFT is Katie Canales, a correspondent for the American Business Insider website. In the text, he wrote on his pages: “I paid $ 103 for a cartoon NFT pig in the largest online digital token market. Now I don’t know what to do with it.

He shared the history of the oil acquisition process in the text. “There is a $ 2,000 digital photo frame on the market that allows you to display NFT graphics at home. The price is ridiculous, but its purpose became clearer after the first NFT decided to buy it just for fun, “Canales wrote.

After buying a cryptocurrency and transferring it to a digital cryptocurrency wallet, the journalist became the proud owner of a 14-second animated pig cartoon on a colorful background in the rhythm of electronic dance music. Rave Pigs, an NFT collection that is part of his paintings, is as popular as the monkeys in the Bored Ape Yacht Club collection. Sales of crazy pigs have already exceeded one billion dollars.

“NFT may have some potential real-world applications, but they are now mainly used as speculative assets, including in the art world. It’s still not necessarily a headache for me to go through the process of discovering NFT, “the journalist said, warning that you can’t just get NFT.

First, he had to open a crypto wallet and buy cryptocurrency. He did this in Coinbase using the Ether digital currency. This blockchain-based Ethereum is the most popular virtual coin used for transactions in OpenSea. He describes the whole process as complicated, tedious and time consuming.

Since he bought the cryptocurrency for only $ 50, he searched for an NFT in that price range and came across a dancing pig. However, he still had to pay a $ 50 network fee, which made the purchase more expensive and time-consuming, costing him exactly $ 103.25 to get his NFT picture.

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