NFTs have been gaining a lot of popularity and they have already become one of the most explosive crypto trends since the DeFi summer of 2020.
Check out the latest reports posted by CoinDesk.
NFTs have quickly become one of the most explosive crypto trends since the “DeFi summer” of 2020, with increasingly more cryptocurrency holders and traditional investors seeking to own and speculate on these unique blockchain-based assets.
— CoinDesk (@CoinDesk) July 18, 2021
CoinDesk notes that NFTs are virtual tokens that represent ownership of something inherently distinct and scarce, whether it be a physical or digital item, such as artwork, a soundtrack, a collectible, an in-game item or real estate.
“Unlike regular cryptocurrencies like bitcoin (BTC, -0.64%) or fiat money like the U.S dollar, these special types of digital assets cannot be mutually exchanged for one another because each token has a specific value based on its unique traits and attributes,” the same online publication notes.
Make sure to check out the complete NFT beginner guide in the original notes.
It’s been revealed that the MicroStrategy CEO, Michael Saylor said some pretty interesting things about Bitcoin.
He said that Bitcoin is a form of property and points out the fact that the US government is not threatened by other forms of property.
Cointelegraph says that Saylor believes that Bitcoin is more like digital property than digital currencies.
He recently spoke on the July 15 edition of the Coin Stories podcast with the host Natalie Brunell.
Bitcoin is a digital property
He was asked whether he thoughts that Bitcoin was a threat to the US dollar, he replied the following.
“I would call it a digital property; it’s a threat to property; it’s particularly a threat to other forms of property. Gold is property; real estate is property. I don’t think the United States government is threatened by real estate or buildings or companies or gold.”