For some, the world of NFTs has been a gold mine, while for others, NFTs seem to be one of the biggest Ponzi schemes ever. Whatever side you find yourself on, the truth is that NFTs don't appear to be going away anytime soon, with many seeing these digital tokens as a new outlet for their creative expression. One of the newest types of phygitals; for more, read on.
What is Phygital?
A phygital is when an NFT, a digital token, is backed by a physical, real-world asset. It's a blend between digital goods and physical items of value, hence the name "phygital." This new type of NFT is working towards capitalizing on the synergy between the physical world and the ever-growing blockchain space.
This new type's impact on NFTs is that it makes digital investment more reliable and tangible, with something real attached to the token. This new breed of NFTs could completely revolutionize the NFT infrastructure, forever changing the digital asset landscape of the future. So far, phygitals are proving to add to the rarity and scarcity of NFTs, making these tokens more desirable.
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