So, you have heard about NFTs and how these “digital avatars” are printing money for their holders. In 2021, NFTs were so popular that the term was christened Word of The Year by a famed dictionary company. There is a social buzz around NFTs and probings as to whether they offer more than just being overpriced avatars, or come with no other utility behind the art, even with proof of ownership. NFTs are more than just get-rich-quick-schemes or digital art you can right-click save on. Apart from representing art, Non-Fungible Tokens (NFTs) are unique digital assets that also represent ownership of other real-world items like video clips, music, and more recently, exclusive access to some of the finest establishments globally. The sheer potential of the NFT industry is mighty, and impressive when utility comes into play. Even with the provision of royalty distribution for creators and all-access passes to events, permitting ownership and trading of in-game assets, and even fractionalizable assets like land, the NFT industry is still a germinal seed in the grand scheme of things. Who would have thought a string of code on the blockchain could uniquely render redeemable real-life utility and even access to lifetime memberships that are of immense benefit to the asset holders? Nowadays we are seeing projects leverage this innovation to make NFT lovers go nuts. For example Drunken Monkey, are 9995 unique NFTs that not only give proof...
