NFTs give you something that can’t be copied. Not a picture itself (anyone can take a screenshot). Here we’re going to use art as an example, because its most common nowadays, but NFTs can be used for real estate, contracts, and a number of other things. NFTs are a digital means for proving the ownership of an asset, like your car’s title proves you own it. Add to that with an NFT, you can also track who has owned that digital asset in the past and what was done with it, just like getting a Carfax tells you the history of your car’s sale and repair.
For those of you concerned with the Shariah compliance of the coins you are buying, Asking yourself these 5 questions will help guide your coin selection:
#1 – It is a store of value.
#2 – It is a medium of exchange.
#3 – Transparency about recourse.
#4 – Tokenomics are not ponzi-esque.
#5 – It has an established or projected, permissible real world use case.