We see them everywhere from movie stars buying them to athletes but what are NFTs?

What Is a Non-Fungible Token (NFT)?

Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.

The distinct construction of each NFT has the potential for several use cases. For example, they are an ideal vehicle to digitally represent physical assets like real estate and artwork. Because they are based on blockchains, NFTs can also be used to remove intermediaries and connect artists with audiences or they can be used for identity management. NFTs can remove intermediaries, simplify transactions, and create new markets.

Cryptocurrencies have also taken notice in NFTs and for good reason. NFTs give meme coins a simplified purpose, a basic utility that the crypt community can use to share amongst each other in a unique way.

The tokens can also link their NFT back to their coin to use for various other proposed in growing their token. Funds raised from the NFTs can be used directly for marketing, and anyone who ever created their own token knows how expensive marketing can be.

Newly developed crypto tokens such as EvaGrow are doing that very thing. EvaGrow has begun launching their own lineup of NFTs weekly; this is exciting news for EVAs holders, the first round of NFTs lasted only minutes as holders quickly bought them up.

NFTs also give tokens a free marketing strategy in a sense. Once an NFT is minted and placed on the blockchain, markets that sell NFTs are quickly notified of the new NFT and move in to push the new NFT onto their listing platforms. When potential buyers read about the NFT they will also be educated on the existing token, which can also be purchased on the same blockchain.

Some cryptocurrencies have seen massive gains in their token's overall prices simply by implementing NFTs to their token. What will the future bring for cryptocurrencies teaming up with NFT?

This may be too early to say but we think the combination of the two working together will be much more significant than each of them working unilaterally.