NFTs: Really, what are they and what are being used for?

It is a way of selling digital-only assets by granting ownership to the buyer in a way that can be credited. 

NFTS, therefore, can be considered products from the moment two circumstances are present: there is an economic transaction and a limited amount of assets (it can be 1 or 1,000, but each token sold is numbered and associated with its buyer). 

It is important to understand that the digital nature of the product itself makes it impossible to avoid replication, but a metadata file included in the NFT makes what we get when we copy it just a worthless copy. 

In a way it is a bit like taking a photo of La Gioconda: does that strip the owner of possession of the work? Of course not. 

On paper the idea is great. It allows digital creators to have the possibility to monetize their work in an additional way. There have even been marketplaces that open the NFTS market to eCommerce. 

The thing is that transactions are made exclusively using cryptocurrencies and blockchain technology. Basically this is the most logical way to manage the ownership of the token, but at the same time it makes that certain air of speculation behind this technology has become apparent in the area of Non Fungible Tokens. 

We are seeing how both anonymous and some well-known personalities are filling social networks with their acquisitions of illustrations of cats, monkeys or penguins.  What is apparently just a drawing, what is behind it is a real business that moves hundreds of thousands and millions of dollars. 

From NBA stars like Stephen Curry to TV or movie stars. All of them are making really high investments. 

That avatar of a monkey with a certain attribute, such as a hat or glasses, makes it more or less rare. Depending on this, its value increases or decreases.

But not everything is illustrations, it is worth remembering that all this applies to any digital good you can think of, it even turns things like a video, a tweet or a meme into products, something that would seem impossible to sell. 

But the word is precisely "invest" because it is not just one more quirk of people with money, there is a whole business that underlies the background. These pieces, as would a physical work of art, are revalued over time and, as they are limited, also according to the principle of scarcity. 

It is still too early to say for sure, but the truth is that there are many signs that could be pointing to it. 

Moreover, some people even define it as a scam or a pyramidal and fraudulent system. 

It is true that behind every good idea there are always problems and opportunists (especially when it is a business idea). It is also true that it is not the paradigm shift or the new "rules of the game" that was announced. 

But if it is used well, it is another tool of undoubted value and, as this madness we seem to be going through, it will maintain its usefulness. 

The problem is that there are certain important negative aspects behind NFTS. For example:

All this may end up weighing down NFTS definitively, transforming them into a bubble whose bursting would have significant consequences and a scope that is difficult to determine.