NFTs: Beyond Blockchain Technology
As cryptocurrencies are falling day by day, more and more people are predicting long-term pessimism about the cryptocurrency market. NFT, which seemed inseparable from cryptocurrencies since it is the expanded technology of blockchain, continues to gain popularity by absorbing fandoms despite the downtrend in the cryptocurrency market.
NFT is becoming an independent industry beyond a part of the blockchain industry. Some have a strong view of NFTs as a means of investment, but in more cases, people with the same values and expectations for NFTs gather to form a community and have their own solid cohesion.
To purchase NFTs, there are entry barriers such as creation of a wallet required for transactions and provision of designated coins. However, a community of like-minded people is enough to facilitate communication and motivate participants. In addition, it is easier to access than cryptocurrency investment because it uses images that are easy to understand without language barriers.
Culture allows the masses to experience a change in the value system or a transfer of consciousness. Looking back on the past, society has always spread ideas through culture, and since then, new ideas and institutions have been created. Sushi in Japan is the most representative Japanese cuisine known to the world. Sushi is more than just a food to eat. Sushi embodies Japanese craftsmanship, manners, and respect for the chef. Another example is Taekwondo, a Korean traditional sport. Taekwondo, practiced by 150 million people around the world, goes beyond a simple martial art and is centered on the spirit of strengthening manners, self-control, and concentration. While learning Taekwondo, you will naturally experience the traditional Korean ethical thoughts along with physical movements.
In the case of NFT art, the technological mechanism is still being implemented on top of blockchain technology, but the social and cultural ideas within it are expanding beyond our expectations. NFTs are children born of blockchain, but now they are leaving their parents’ arms and moving into a new world. Now is the time to redefine art, culture, and ideology in line with the flow of the world.