Pandemic has brought with it new ways of producing and transacting art, and has coupled with the use of cryptocurrencies that have shown increasing accessibility and potential for the digital world.
NFT (non-fungible token), supported by Blockchain technology, is a guarantee of ownership of a unique asset that can be presented digitally and can be linked to musical compositions, works of art, video game components, among others. The combination of the demand for digital items and the increased online auctioning makes NFTs increasingly influential nowadays.
The acquisition of this art form is accomplished through the use of cryptocurrencies that come in a wide variety. One example of a digital currency is Ethereum (ETH) which is used in several online auctions, alongside Bitcoin (BTC) and USD Coin (USDC).
Investment in cryptocurrencies has thus been showing an upward relevance due to digital growth and faster usage, resulting from less need for financial transactions or less involvement of intermediaries.