What is an NFT?

A non-fungible token (NFT), also known as a nifty, is a special type of cryptographic token(WIKI) which represents something unique; non-fungible tokens are thus not mutually interchangeable by their individual specification. (WIKI)
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Basically, it's the VERIFIABLY ORIGINAL TOKENIZED DIGITAL ART FILE that is stored one-way-or-another onto a blockchain, in this case Ethereum.

Why is this important?

As the value, or credibility of these blockchains increases over time (not just the price of their associated tokens), the digital artworks that are stored on them should, in theory, increase as collectors trade tokens between wallets, or purchase in auctions, or through a marketplace like SuperRare. It's essentially a curation mechanism for digital art, much like virtual art galleries, where the piece of art is the NFT, and the means of displaying (SuperRare, Rarible, Async, OpenSea ...) is the gallery.

Anyone can visit the website and see the art displayed in its proper format, beautifully like an Art Institute for the Internet, but only one wallet is the owner of the piece.

The image can be copied and spread across the internet for the world to see, without changing the fact of ownership determined by the blockchain. In fact, as the image is spread across the internet, it is conceivable for the value of the single NFT to rise, being the "source" of this viral image.

There are many ways to tokenize NFTs and many platforms. Some are selective about which artists they let on their platform. Some have better attention of collectors. Some have additional features that the platform provides to artists during their tokenization process.

NFTs as a whole are still in nascency and until the data is stored in Bitcoin blocks, I consider this a fun way to get my art in front of people and potentially make a sale to a collector who believes in what I'm doing.

Bitcoin Magazine may or may not be working on a BTC NFT project in the future.

NEWS -- I've been accepted onto the Async.art platform! This NFT will be my masterpiece, and it will take some time to create, but keep watch for the drop before the end of 2020

[Start Pepe rabbit hole here]
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tommy tokenizes nifties on:
SuperRare


peep the nifties in my wallet: 0xe3a591b751440dcf47922e2294a7305e781323ff