# What is an NFT? 

By [Snyder](https://paragraph.com/@snydernft) · 2022-02-19

---

NFTs are simple. Excruciatingly simple, when compared to what most people think they are.

We were probably ready for NFTs several years ago. We live in such a materialistic, ownership-based society. Cars, houses, art, social media, our personal brand can be a method of ownership of the digital realm.

How did we get here, though? Why NFTs? 

Let’s start with the definition - non-fungible token.

Every time I have a discussion with somebody new to crypto/nfts, I’m met with an overwhelmed reaction, subsequently followed by a “I really do need to learn more” or “I totally missed the boat”. The more you know the less mystery there is.

With NFTs, it is your way of owning something digitally. Completely verifiable by technology, not an institution. The government isn’t drafting a title transfer for you, or granting access to something - you and technology, that’s really about it.

Now to the next step.. What to buy? Well… whatever you want.

I am most drawn to digital collectibles. As an artist and musician, I’ve always gravitated toward art. I have it all over my house, I wouldn’t call myself a collector, but instead more-so just passionate about owning things that are special to me.

NFTs are nothing more than that. What do you like? It may have a TON or ZERO monetary value outside of what you put on it, that’s sort of the beauty. “Intrinsic Value”

This is purely a relationship between macro and microeconomics, almost a 101 class on supply and demand. We decide what’s valuable. Which is why it can be so volatile for somebody that’s trying to make money here.

The most success I’ve seen in NFTs, comes from people that are not trying to money grab or make a quick flip. They buy something that they like. One day maybe it goes up in value, maybe it doesn’t but no matter what you will still like it.

My advice (and not financial whatsoever) don’t just jump into the game. Sit on the sidelines, see what people are doing. Understand the sheer volume of what’s being launched on a daily basis. Wait out the hype and buy things you are passionate about. Don’t spend any fiat / usd / eth / sol / matic that you need back. If you can’t buy multiple, wait this one out, fam. A large part of the industry is built around creating FOMO around the supply of a project.

In any case, we will get into more next week.

I hope that you make it, and I hope this helps you on your journey.

Sincerely,

Snyder

  

\[Many thanks to @damatosonian for the edits\]

---

*Originally published on [Snyder](https://paragraph.com/@snydernft/what-is-an-nft)*