Just in time for the holidays, 6 companies jump on the NFT boom
When 19th-century English poet Lady Mary Montgomerie Currie suggested, “Good things happen to those who wait,” she never clarified how long impatient people should wait before they grow increasingly frustrated. Over the past few months, millions of people around the world have been forced to sit down and be patient while waiting for the products – clothes, books, and furniture, among others – that they ordered months ago. After all, it wasn’t that long ago that anyone could buy a custom sofa online and fall asleep on it just six weeks later. But now, almost two years after the start of the pandemic, waiting has become a regular feature of everyone’s daily routine, which is less than ideal when shopping for holiday gifts. This is where NFTs, a potential savior of the massively delayed global supply chain, come in handy.
NFTs, non-fungible tokens, are essentially one-of-a-kind collectible cards that are quite unique, which means that you cannot exchange an NFT for an NFT of the same value. Like when Jack traded his cow for three magic beans, people are offering money, usually in the form of cryptocurrency, for a digital product, such as a drawing or video.
NFTs have become quite legitimate art forms in recent years. At this year’s Art Basel in Miami, Armenian artist Narine Arakelian, 42, presented her first NFT in the form of a painting titled “Live”. The NFT comes with a built-in contract promising one of its eggs to whoever buys their work. Whether the world is on board or not, NFTs are one thing, and unlike the old poster shipped from a small store in Paris or the new sectional from a warehouse in Asia, NFTs are immediately transferable. They provide a solution to the huge shipping delays just in time for gifting season.
So if you’re looking for a holiday gift, but don’t want to wait for it to arrive, here are five companies that are making the jump to NFTs.