CHARLOTTE, N.C — More than $23 billion on trades were made in the NFT industry globally in 2021, according to industry tracker DappRadar. NFTs are properties like pictures, videos and memes all stored digitally using block chain technology and cryptocurrency.

Ryan Allen found out about the NFT world in Charlotte on an art walk where he met NFT artist Uncle Jut.

“I just watched his space for a couple of months and got the courage to kind of ask him small questions that kind of pushed me to dive in and learn more,” Allen said.

What You Need To Know

  • NFTs are digital property like pictures, videos and memes, all stored digitally using block chain technology and cryptocurrency

  • More than 23 billion dollars of trades were made in the NFT industry globally in 2021, according to industry tracker DappRadar

  • Artist Uncle Jut and Ryan Allen aka Friedchickensandwich are creating and selling NFTs in Charlotte

Allen currently sells his NFTs on OpenSea under the name Friedchickensandwich where he hopes his earnings will help him invest in new businesses and help others in the service industry.

“The possibilities of finding long-term collectors, investors, supporters, through your art, through your work is the thing that made it a no brainer for me,” Allen said.

There is a considerable amount of work you need to do before you can create an NFT. You also have to set up a cryptowallet and buy cryptocurrency to be able to purchase an NFT. Uncle Jut said to be cautious when you buy crypto-currency because its value fluctuates like the stock market.

 

 

NFTs are tricky to explain. When asked how to describe an NFT, Uncle Jut said, "It is like chocolate ice cream. I can tell you how it tastes to me, but I can’t explain how it might taste to you. You just have to do your own research.”

Mitchell Clark at The Verge, an editorial site dedicated to examining changing technology for mainstream audiences, shares a comical take on their research.