User:ASH MDX/GIF art

NFTs
NFT is basically a non-fungible token which is stored as a unit of data ran through the new blockchain technology. NFTs allow for art such as digital GIFs to be "tokenized" and furthermore create a digital certificate of ownership that can be bought, sold, or traded depending on the platform. NFTs can be used to authenticate photos, audio, videos, and many other types of digital files, especially GIF art! NFTs have helped solve a massive problem in today's digital art revolution and which is, who actually owns the digital art as a lot of people can copy art, NFTs have made it so each piece of art has its own key which can not be duplicated, faked or even stolen. Just in 2020 the NFT market value triple in price reaching more than $250 million, now it is seen to be worth $22.5 billion just based on the first quarter of 2021. This is a great opportunity for up-and-coming digital artists to sell their art pieces on the web. With today's evolving technology, blockchain tokens such as Ethereum, FLow, and Tezos have made it possible for digital artists to further monetize their talent. One of the first major artists to jump on the trend was Grime and she managed to sell $6 million dollars worth of digital art sold as NFTs. It has made it possible for GIF artists to show off their talent and potentially sell their work on online digital art marketplaces such as OpenSea and NIfty Gateway.