NFTs seem to be everywhere. Whether it’s the NFL, rapper Snoop Dogg, Burger King, Shakira, or even the “side eyed Chloe” meme, it seems you can’t swing a dead CryptoKitty without hitting someone jumping on the NFT bandwagon. Here’s the thing, NFTs aren’t just for celebrities and billion dollar corporations, they are perfectly designed to benefit small businesses, as well.
Before going too far into how founders can use NFTs, let’s take a minute to understand what they are first.
What is an NFT anyway?
A non-fungible token (NFT) is a digital asset that represents an array of virtual and physical things, which cannot be substituted or switched with a fake since they are created on a blockchain that can always be traced back to the original owner or creator. NFTs can be works of art, photos, music, videos, collectibles, memorabilia, contracts, coupons, certificates of authenticity, ID files, health records, and more.