RE: The unstoppable NFT CRAZE: 2023 can be the year of NFTs

Dear @goldgrifin007 !
It is a long discussion and I can explain it as not being a technical person.

But in a simple way, 21 million BTC is the same as ordinary money, as every 1 dollar value means 1 dollar but there exist different numbers on the bank notes so they can be tracked and verified by the bank authority and you can't make a fake one as all the bank notes are unique.

In the same way, BTC is just a value, every 1 BTC value equals 1 BTC but there is no uniqueness or numbering method like the bank notes. If your wallet contains 1.5/5/100/30000 or even a 21million BTC, it will just be the value of the BTC.

But in the case of NFT, there are no fractional values or measurement criteria like 1.5/5/7 BTC or in dollars, they are a unique piece of banknote that can be tracked or verified from the blockchain. It is impossible to fake the NFT or copy the same one in blockchain that's why it can be so important.

And for valuation of NFT is dependent on the supply of a similar class of NFT and their demands. The price of 1 unique NFT can be now 5 BTC or 10 ETH now and it can rise to 50 BTC or 1000ETH in the future if demand increases, and oppositely it can be 0.5 BTC or 1 ETH with the drops in price. But for BTC or ETH, 1 BTC will be always 1 BTC in value, and 1 ETH will be always 1 ETH.

I hope you understand, I tried to avoid all the technical things here and for further knowledge, you can try some Youtube videos or read some deep explanation blogs.