This article is published in number 39 of Vanity Fair on newsstands until 28 September 2021
Few have really understood what the hell they are. In this issue of Vanity Fair we tell you about it. Because NFTs represent the new digital frontier that will change many things.
To understand them, let’s take a step back. Imagine going back, let’s say, to the beginning of the 2000s, when there were still no big social networks. Well, if someone had come to you and told you that soon anyone, with followers in a world that didn’t exist, could have built fortunes and amassed a lot of money, you would surely have looked at him in disbelief. First because it seemed impossible to you. Second, because what he was saying was not at all clear: what does it mean to have followers in a world that does not exist? And who would ever put money into something that doesn’t exist?
The same amazement is felt in front of NFTs. In short: an NFT is a contract that establishes the provenance, authenticity and ownership of a digital asset. Something that only exists on the net but is damn real. When you think of an NFT, in fact, the first mistake lies in not understanding that digital is real. So: try to imagine a very near future in which many goods will be sold with NFT contracts. From art to fashion, from design to culture and so on. To understand developments, scenarios and consequences, we wanted the investigation you find on page 70. Don’t miss it: try to explain how and why this technology seems to have all the characteristics to make another revolution.
Also for this reason, we wanted this Vanity Fair cover to be la prima vera cover in NFT: we created it together with Valuart, a team of young creatives we talk about on page 65. The image of Elodie, our cover star, and artistic processing thus become a unique and unrepeatable digital asset, a sort of work of art that already has a buyer who has chosen to buy it for the sum of 25,000 dollars (real, not cryptocurrencies) and to transfer the rights to Pangea, a non-profit organization that deals with the assistance of Afghan women who have arrived in Italy (in this we are faithful to our commitment “Don’t leave us alone”, launched with the cover of Vanity on September 15).
I repeat: digital is becoming more and more real. And its influence on us is increasingly radical. Our task is to understand it, perhaps direct it, certainly not underestimate it. Because today, as in the early 2000s, it is not important what seems impossible, but when, how and why it will be possible.
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Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
