The sector that was nearly non-existent barely two years ago, now carries the hopes of many and its growing prominence has built confidence for young people who now believe they need nothing more than an artistic flair to earn a living.
It represents a unique digital asset with characteristics that are particular, that is, it cannot be interchanged or replaced by another equivalent token, market tracking firm NonFungible.com says.
NFTs take multiple forms, for instance of a digital work of art (painting, photograph, graphical illustration, music, video, film, etc.), a domain name, or even an equipment in a video game.
For Benson Wanjama, 27, the journey into NFT art began when American digital artist Mike Wilkermann, alias Beeple, sold an NFT of his work for $69 million in a day last year in March, a sale that is todate regarded among the highest ever in the industry.
At the time, he barely knew anything about NFTs or anyone in the trade, but developed a desire to venture into the little-known industry. He sank into the internet and in less than a month, had gathered all the information he needed to start.
