We’re in the midst of a digital revolution. Blockchain technologies, decentralized anonymous exchanges, and cryptocurrencies are becoming hot topics in industries across the world, from banking to commodities exchange to online gaming.
Among these emerging technologies is something we at Billionaire Space Baby NFT are pretty excited about – NFTs and how they’re revolutionizing the digital landscape.
Now, if you read that and thought “what the #$%& are NFTs?”, don't worry, you’re not alone. It’s hard to wrap your head around the idea of these digital tokens. But when we go online and hear stories of businesses, teenagers, and even kids jumping into the NFT space, it’s natural to be a little curious about how you can get your piece of the action.
Make no mistake, if they can get paid and live outrageous lives from NFTs, you can too! All it takes is a little know-how and the right platform to get you there. That’s where Billionaire Space Baby NFT comes in.
What Are NFTs?
NFT stands for “non-fungible token”, which is really just a fancy way of describing a piece of data stored on the Ethereum blockchain. Just about anything can be an NFT, including digital files, artwork, or certificates that represent physical items and memorabilia. These bits of data can be sold, traded, or invested, much like ordinary cash.
The difference is that ordinary cash is “fungible” – meaning that the units are interchangeable and indistinguishable from one another. The ten-dollar bill in your wallet is virtually no different than a ten-dollar bill at the bank.
NFTs are non-fungible, meaning that each unit is distinct and unique. If you own an NFT for a digitized Monet painting, for example, you possess a digital record of ownership for that painting that no other person can possess. The purchase is recorded on the Ethereum blockchain and acts as digital proof that the artwork is authentic and that you’re the sole owner.
These security and authenticity features have made NFTs a big deal in the fine art and commodity trading communities, but really, the sky’s the limit! We’re entering a new era of digitization, and right now the potential for NFTs seems boundless.
NFTs – Where Are We Today?
NFTs trace their origins back to the early 2010s, with the first official NFT being created by digital artist Kevin McCoy. This NFT (dubbed “Quantum”) would eventually sell for over $1.4 million at a Sotheby auction in 2021.
When the Ethereum blockchain went live in 2015, the creators introduced a set of token standards that would act as the backbone for smart contracts and modern NFT production. (NFTs exist on other blockchains as well – but as of now, Ethereum is king.)
Over the next few years, more companies and creators would begin testing the NFT waters by generating new NFT projects with limited runs. It wasn’t long before companies began introducing gaming elements into their projects, as online games turned out to be the perfect way to get users engaged with NFT collecting and trading.
Soon after we’d see a rise in blockchain-based gaming platforms that allowed “tokenization” of in-game items. In essence, this push meant that digital items purchased with in-game tokens could be backed by real-world money.
These elements converged and created an NFT boom in 2021, with a huge rise in companies purchasing NFTs, creating their own NFT lines, and building their own metaverses to give their members a place to interact, spend, and connect with one another.
Basically, just about anything these days can be turned into an NFT and traded in these cutting-edge digital markets:
Digital artwork
Audio, video, and GIF files
Digital files representing rare physical memorabilia
Commodities like wine and coffee
Digital furniture, clothing, and gear for in-game use
And more
Billionaire Space Baby: Changing the NFT Game
BSB is changing the way the world looks at NFTs by creating a community-driven network that links NFTs, tokens, and our own unique metaverse into a platform never-before-seen in the NFT space.
We knew there was potential when we first heard of NFTs, and we believe we’re able to create a powerful community that adds value to users through 100% original artwork, networking opportunities, and most importantly, providing the skills and insight required to succeed in your entrepreneurial journey. Not just anyone can make it happen, which is why it’s so important to learn from others who have travelled -- and succeeded -- on the same path.
In other words, BSB is here to make your dreams a reality, all on top of providing some awesome swag that you won’t want to miss out on.
