Due to the growing interest of Non-Fungible Token (NFT) applications, I am minting and selling my collection of photos “Silicon Valley 2020“. Non-Fungible Tokens are unique cryptographic tokens that exist on blockchain technology and cannot be replicated. NFTs are used for a variety of transactions, specially for digital artwork, collectives, and digital representations of physical assets. They open interesting business applications: proving ownership of real estate properties both in real and virtual worlds, authentication of products, smart contracts, or even trade finance. But NFTs open potential challenges, as regulations or cybercrime.
I have chosen one of the leading marketplace platform, OpenSea. Just in 4 years, this marketplace has reached a $1.5 billion valuation, with the support of Andreessen Horowitz (a16z)! My user experience on “minting” the NFT photos collection is simple and straightforward. The real challenge is… selling them in a competitive landscape. But good news: Christie’s auction house is collaborating with OpenSea on the first on-chain NFT auction via the Ethereum blockchain.
Are these blockchain-based NFTs just a fad, an economic risk, or the future of investments as art and collections? Most likely, all of them…
About my new NFT photo collection: Photos of the experience of Silicon Valley during the historic days of 2020, with the COVID-19 pandemic and lockdown.