All I Want for Christmas — Is a Digital Asset


  All I Want for Christmas — Is a Digital Asset

  Why NFTs can be the perfect Christmas gift

  Holiday sales in the United States for 2021 are expected to generate $834.4 billion. Additionally, the average American anticipates buying $942 in Christmas gifts and a third of Americans anticipate spending over $1,000, according to 2019 numbers. The holiday season is big.

  But, with the expansion of the digital economy and the increasing popularity of non-fungible tokens (NFTs) comes an entirely new set of possibilities, gifting digital assets. Already, there has been talk about gifting digital assets with the click of a button, rather than depending on large shipments of physical products to come through when there are such profound international supply chain issues.

  How Would NFT Gifts Work?

  Just like any physical gift, digital assets can confer similar, or even more, levels of excitement, wonder and appreciation. Whereas physical gifts are inherently constrained by the laws of physics, much more is possible in the digital realm since the creator can integrate multiple forms of media.

  Consider the simplest illustration: buying a portrait as a gift. The same can be obtained with an NFT. While these have often been discussed in the context of large-scale digital galleries, they can be easily displayed inside an apartment or house. If you have a smart TV, you can display digital art on it when youre not watching TV.

  Take that example one step further. Instead of just gifting a friend or family member an NFT that is in the form of a digital art piece, what if the NFT embedded both audio and art? For example, the NFT could have Silent Night playing and simultaneously displaying a creative rendition of the sky with the stars. A picture is worth a thousand words, but a picture and audio are worth many more.


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