If you have a pulse you probably have access to social media of some sort. If you have social media, you probably have heard about NFT's. Whether you have a grasp on what this is, you have heard of it. 

As an owner of a welding company, what do I know about NFT's? And why? Valid question, and the answer is not everything that I would like to know, and the why answer would be that as a business owner I want to stay ahead of the game. I want to do my due diligence to have our company in the best position to succeed. If that means NFT's come into the equation, so be it. 

What are NFT's?

First, let's tackle the basics. NFT. What Is an NFT (Non-Fungible Token)?

A non-fungible token (NFT) is a unique digital asset that acts as a certificate of ownership for virtual or physical assets like photos, videos, Tweets, etc.. Each NFT represents a one-of-a-kind cryptographic item that cannot be interchanged with another and is maintained in a digital ledger called blockchain.

Further, as Investopedia points out, “Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.”

All that being said, in lay mens terms, a Non-Fungible Token translates as a Non-Replaceable Token. 

If you keep up with this blog, you either enjoy or participate in the welding industry or you are a friend, family supporter. Through the hours of research that I have put in I've come to this conclusion, they can be as simple as baseball cards, and as complicated as a stock exchange. 

Before we go further let's talk about the other aspects of this medium that we have to have an understanding of, like the Blockchain.

Welding & NFT's. NFT's for welders.

What we have come to determine so far is that an NFT stands for Non-Fungible (replaceable) token.  These come in the form of digital photos, videos, etc. It is a thing that is moving strong right now. Huge corporations are taking heed and planting their flags in the movement. As a business owner I don't want to be left in the cold.