The number of non-fungible tokens (NFTs) has risen dramatically in the past year. Some of these digital holdings are being sold for vast amounts of money. This makes one wonder if the buzz surrounding NFTs is worth it? Experts think they're like the dot-com frenzy or Beanie Babies, a bubble that's about to burst. Others feel that Non-Fungible Tokens are here to remain and that they might forever alter the landscape of investment.
Given all the hype surrounding NFTs, we were in talks with Jordy Lokhorst, a die-hard NFT enthusiast who himself is running an NFT project that goes by the name Shenzo. Influenced by the year 2000 and the Japanese anime style, Shenzo is a society and utility-based art Non-Fungible Token project that focuses on both physical and digital events in order to create beautiful memories for our communities.
While we were in talks with Mr. Jordy Lokhorst, he was kind enough to debunk some myths for us. Here’s how he responded to some of the well-known myths.
â Myth 1 - NFTs grants you the rights to image
Mr. Jordy Lokhorst debunked the myth in the following words. Here’s what Jordy said. “When it comes down to it, NFTs are mere tokens that reflect an asset and not the actual asset itself. A single NFT cannot be recreated while retaining the same significance as the original because each NFT signifies a unique asset. The difference must be made between its exclusive form of ownership and the ownership of the artwork itself.”
â Myth 2 - NFTs are a scam with deceptive claims to make you rich quickly
When presented with this myth, he chuckled and then iterated that there is no truth to it. As per Lokhorst, this is an unusual objection to have about Non Fungible Tokens, mainly since the great majority of creators who create NFT artworks and the vast majority of customers who purchase them aren't getting wealthy. A few are, and more will be, no doubt, but for Non-Fungible Token to be a gigantic rug pull, the overwhelming majority of NFT owners would have to be getting rich, which is simply not the case now.
â Myth 3 - NFTs will enable you to use your digital property across various systems or games
In the words of Jordy Lokhorst, this claim is far from reality. He further said, “Anyone who has worked in the video game industry knows that adding a digital asset to one game does not automatically translate to another. In order for NFTs to operate across various games, developers would need to work together to ensure that their assets are compatible with one another. If the developers worked for the same studio, it could potentially be possible. However, this promise has not been fulfilled and is not linked in any way with the NFT technologies.”
There are dozens of clients from all around the world with whom Jordy works. The music-related artwork that he has created for the music industry has been featured in New York City and Times Square, including the Rockefeller Center. His latest NFT project Shenzo is a testament to the fact that Jordy Lokhorst is an authority on the subject, and the information he has provided above will stand the test of time.
To say that NFTs are the future would definitely not be an overstatement. One needs to keep up with the latest technologies and innovations in order to survive in this day and age. Head on to Jordy Lokhorst’s socials if you need any guidance related to NFTs.