Assignment 1

1. NFT’s ascension
Student Name : ABHISHEK SINGH BAGHEL
Student Number : 126114214
Course : MKM915 SAA
Assignment : Digital Digest #1

2. What is NFT (Non-fungible token)?
 Thank you for your understanding. An item that is "non-fungible" is one
cannot be substituted with another item.
 As an example, bitcoins are fungible, meaning they can be exchanged one
another and received the exact same value.
 The only difference between a one-of-a-kind trade card and a duplicate is
it cannot be duplicated. If you swapped it for another card, you would get
something entirely different.

3. What may they be used
for?
Archiving records that contains confidential
material.
Buying & Selling of visual art in the form of
images, videos, and audio files etc.
Converting images to NFTs for online identity
verification

4. NFT’s Popularity and Market Cap

5. According to a new estimate, the NFT market will
surpass $80 billion in 2022.
 Currently, NFTs are worth more than Nissan and Domino's Pizza.
 With multimillion-dollar sales last year and celebrities like singer Shawn
Mendes, socialite Paris Hilton, and former first lady Melania Trump joining
the movement, non-fungible tokens (NFTs) gained significant traction.

6. Now Stepping on
Web 3.0
(A place where all of
this happening)
 People are most familiar with Web
2.0 (also called Web2), which is often
referred to as "the social web."
 Web 3.0 (Web3) is the next
generation of the internet,
dominated by applications built on
blockchain technology.
 A major objective of Web3 is to
eliminate Big Tech from the equation,
by using open-source software, while
still providing accurate and unique
transaction data.
 It carries with it a voracious
appetite for non-fungible
tokens (NFTs) — one-of-a-kind
digital goods, such as art.

7. Most popular NFT’s and their valuation
Price : $91.8m
Sold on : December 2,
2021
Price : $69.3m
Sold on : March 11, 2021
Price : $11.75m
Sold On : June 10, 2021
Pak’s ‘The Merge’ Every days: the First 5000
Days
CryptoPunk #7523

8. Top 5 NFT marketplaces
OpenSea
SuperRare KnownOrigin
NBA Top Shot Decentraland

9. NFTs will play crucial role as new
source of revenue for businesses
 Digital opportunities such as NFTs will be critical for industries suffering
revenue losses as a result of the pandemic (and some still do).
 A company that makes NFTs of sneakers and other memorabilia, for
example, was acquired by Nike with interest in the market.
 Consumers will eventually replace physical products with NFTs as they become
more comfortable with the technology and use it more often.
 The use of NFTs and blockchain for supply chain concerns will be increasingly
popular, as we have seen physical goods brands do so.

10. Conclusion
NFTs offer an almost infinite spectrum of possibilities. In addition to the sports and fashion industries, non-
fungible tokens can be used as symbols for virtual-world property and even used as digital art collections
even as game collectibles.
Aside from this, NFT support will likely become a priority for platforms other than Ethereum, as NFT
popularity and adoption grows. However, NFT has already made a lot of strides and is providing benefits
artists that have never existed before. In the not-too-distant future, there will undoubtedly be more artists
entering the NFT industry.
The current crop of top NFT projects are expected to be replaced by new platforms by 2022. Currently,
has evolved from its associations with video games and CryptoKitties to multiple uses like art, DeFi,
ticketing, and digital identification.

11. Thank You!

12. BIBLIOGRAPHY
Clark, Mitchell. “NFTs, Explained.” The Verge, The Verge, 3 Mar. 2021,
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-
faq.
Bloomberg.com, Bloomberg, https://www.bloomberg.com/news/articles/2022-01-
06/nft-market-surpassed-40-billion-in-2021-new-estimate-shows.
News, A. B. C. “Pizza, Mutant Apes and a Sea of NFTs: Web3 Is Here.” ABC
News, abcnews.go.com/Technology/pizza-mutant-apes-sea-nfts-web-
30/story?id=81745754.
“Non-Fungible Tokens (NFTs) - Skyrocketing Popularity Explained.” PixelPlex,
pixelplex.io/blog/non-fungible-tokens/.
Heykatylee. “5 NFT Trends for Brands in the New Year.” Adweek, Adweek, 28
Dec. 2021, https://www.adweek.com/media/5-nft-trends-for-brands-in-the-new-
year/#:~:text=Brands%20such%20as%20Louis%20Vuitton,virtual%20house%20