History, art, love, and peace can live forever through NFTs, but is it really a good thing?

NFTs have created a new dimension for artists and history lovers. Unfortunately, the present popularity of NFTs does little justice to the amount of knowledge we have about this new investment class. Even though NFT has grown in popularity all over the world, we only know quite a little about its basics. The modern evolution of blockchain technology has also revolutionized the regular use cases on NFTs. With help of non-fungible tokens, artists can register their creations on a blockchain, resulting in the emergence of a unique digital asset. But did you know that anything and everything that we include in the NFTs lives forever?

Basically, whatever you store on a blockchain network, be it a memecoin, a Goblin NFT, or any form of top-secret government documents, it will literally remain there forever. It will not be disturbed or modified, even if there is a global apocalypse! Multiple projects have emerged over the past couple of years that has prompted to leverage of the futuristic nature of blockchain technology. NFTs are literally the best place to store memories, however, this feature also has its own drawbacks.

The primary drawback is that if a person puts a document, image, or video that can only promote hatred, it will also continue to live forever through the NFT. Besides, there are also no guarantees that the content of the file cannot be altered at any time. The data behind the URL might change over time. This indicates that the file that contains the art, image, video, or document, linked to the NFT will be changed, and replaced, even more so, if there are any server or network issues and the network goes down, the file can be eliminated forever.

NFT is that part of modern technology that forms a bridge between modern art, technology, and art with history. However, the NFT marketplace is highly volatile and is quite prone to scams and thefts, so proceed with caution before storing your best memories in NFTs!