NFTs are one of the most exciting technologies of the 21st century. We’ve all seen them in the news, on social media, and even on shows like SNL. With that being said, most people still don’t realize exactly what NFTs are or how they are utilized.
Many people believe NFTs are nothing but images and Gifs that can be screenshotted and stolen with the click of a button, but that’s just not true. Jurgen Cautreels is an internet marketer and NFT expert who has dedicated his professional career to NFTs and entrepreneurship.
Jurgen Cautreels agreed to do an interview with me and share some not-so-known facts about NFTs, and now I’ll share that interview with you.
Jurgen Cautreels: Absolutely not! What you’re seeing on your screen when you’re viewing an NFT, perse. The NFT is the file minted on the blockchain, which is stored in the owner’s wallet.
That owner can display and show it off to others, but no one else has access to the actual NFT except for the owner. That’s how NFTs differ from traditional files.
For example, you can copy/paste that file and have two identical files with a standard PNG file. This is impossible with NFTs.
Jurgen Cautreels: NFT technology is probably the most secure technology of the 21st century. There’s no way someone can hack into your wallet or hack a blockchain and steal assets like NFTs and crypto.
Human error, of course, can occur, but as long as you do not hand out your detailed passcode to anyone, you and your assets are more than safe.
So what all can NFTs be? I’m sure most people have seen images and videos, but is there anything else?
Jurgen: Absolutely, NFTs can be anything. Think about any digital file you can think of. An MP3, an image, an album, a contract, you name it, and it can be tokenized and stored as an NFT.
That’s why I’m so excited about this technology. I don’t think it will be long before we see artists selling albums as NFTs, along with memorabilia and the like.
Some developers have already started creating game assets that they can give out as NFTs. There is a project for tokenized celebrity signatures in these NFT games.
Jurgen: Nike, WWE, and even TacoBell have all hopped into the crypto space, and I expect many more companies to follow suit. There are many ways they use NFT technology.
Nike gives out Cryptokicks with purchases, TacoBell sells them to fund a scholarship, and Mcdonald’s sells collectibles. I expect to see NFTs used a lot in advertising, as memorabilia and for giveaways and sweepstakes.
— Jeremy Raglin (@coolmarketing01) December 29, 2021
Jurgen: I do not think NFT technology is a fad. Looking at what’s happening in the NFT markets, is the current trend of launching NFT projects full of overpriced, subpar art a fad? Yeah, probably. But the technology is here to stay, that much I can almost guarantee.
One of the best skills an NFT enthusiast can have is ignoring the crowd, not following the hype, and using their own judgment and due diligence to pick which projects they back.