What is an NFT and why do I want it?

For most people, knowledge of NFT’s comes from trending articles about purchases of 12 million dollar Ape images, or other various expensive pieces of art or memorabilia being touted by celebrities.

Yes, they can be used for simple things like your twitter profile pic or collectibles. But the number of uses far exceeds Justin Bieber’s art collection, or merely its connection to the often talked about “metaverse”.

NFT stands for non fungible token. One paper dollar can always be traded for 4 quarters. A bitcoin can be traded for a different bitcoin. You’ll still have the same thing, worth the same amount.

If something isn’t fungible (non-fungible), it’s unique and can’t be replaced or traded for another NFT, even the same type. It’s worth whatever you decide to sell it for, and someone will pay.

So you probably wonder, “If I buy an art NFT, can’t anyone just copy the image and post it wherever they want?”

Yes, they could. But when you purchased that NFT, you received what you can see; the image. And lots of things (possibly more than you even know) that you can’t see. You received ownership of the work of art, and as with our collection, each owner receives copyright and reproduction rights for their individual piece.

If you want to go build a television show or cartoon around your Tiger Troop NFT, it is yours to create. The profits are all yours if it gets picked up by FOX and runs for 12 seasons.

But back to ownership rights, that’s what the NFT gives you that can’t be copied. Anyone can buy a copy of the Mona Lisa or Declaration of Independence but I promise, it is not affecting the value of the original. And since it is backed up permanently on the blockchain, your ownership can never be questioned.

Also many NFT’s have hidden features that only the buyers can discover. NFTs can be used to create VIP sections of events or servers, or even “RPHVIP” (regular persons however very in possession) websites that only owners of an NFT can access. An entire website could only be accessible by individuals owning this NFT and holding it in their digital wallet, which allows it to act as a key. (Next Article: “Creating a MetaMask Wallet and Buying NFT’s” being released in a day)

In theory if an NFT acted as a key to a secret website, people could hang out, have meetings, have video guest speakers, organize events, and do anything else in complete privacy. The ultimate members only club!

Some NFT’s have even been used as keys for access to special “owners only” parties on rooftops, clubs, and cruise ships in real life.

The possibilities are as endless as your imagination, and we’ve only touched on digital art NFTs.

So that NFT, that is a unique image, you bought during the release, is yours completely. You can sell it for any price you want, do anything you want with it. You have ownership, copyright, and reproduction rights for the piece (assuming this is a Tiger Troop NFT).

If you hang onto it, it could go up in value depending on demand, and you could sell it for a profit.

And it gives access to any door on the internet where the key for entry is a Tiger Troop NFT.

There are many more uses that I didn’t even delve into in this article, such as gamification and digital avatars, but I will talk about those things in subsequent articles leading up to our release date!

Our next article will be out in the next day or so and explain how to download and use the MetaMask wallet to purchase NFT’s (even with ApplePay!)