What Is an NFT: Blockchain Creative Labs Takes You on a Digital Journey

If you’ve scrolled through Twitter, you’ve probably seen a plethora of cartoon apes, lions and zombies. These new profile pictures or PFPs are unique NFTs verified as people’s new digital identity.

So what is a NFT and all this talk about Web3?

A Non-Fungible Token is a unique and non-interchangeable digital item stored on a blockchain. NFTs can be any file, from a photo, video, audio, etc. Once you’re done, you can resell it, and the creator gets paid every time a transaction is made.

Blockchain Creative Labs (BCL) partnered with The Masked Singer to launch The MaskVerse, a community for fans to buy, sell and trade unique digital collectibles. Those who hold ultra-rare NFTs get access to real-world prizes and an exclusive Discord.

In Web3’s 360 ecosystem everyone can be a creator who, ultimately, can produce and collect digital goods and have a stake in content.

This year, SXSW will mint its first-ever NFT and the community will be able to tokenize their work using BCL’s technology. You can take part in it whether you’re minting at the floor price or purchasing in the secondary market.

Follow BCL on Twitter for more on NFT drop parties and brand experiences at SXSW.

Photo provided by Blockchain Creative Labs