✅Operative Artwork

Recognising the usability of NFTs within Finance

Non-Fungible Tokens (NFTs) are different to bitcoin and most other cryptocurrencies because they are not interchangeable; for example if you traded one non-fungible token for another, you would have something completely different. This is because each NFT is one of a kind with its own unique and non-interchangeable cryptographic hash that is securely recorded on the blockchain. These distinct characteristics make NFTs ideal to represent unique assets such as art, music, videos, collectibles and even land on the blockchain.

In 2021 the idea of scarce, provable, and valuable digital art captured the public's imagination and there was a proliferation in the number of NFTs being minted on the blockchain, with some of the most popular pieces trading for staggering sums of money. This consequently led to a surge in the number of marketplaces trading non-fungible tokens and revolutionized the art world; removing intermediaries and connecting artists with audiences while monetizing NFTs in what has been akin to a modern day digital art renaissance. This is however still only scratching the surface of the potential revolutionary power of NFTs and their disruptive applications in other markets and industries.

Although the first wave of NFT development has been driven by the digital art scene with a strong focus on price speculation, the coming stage of growth will be more sustainable and driven by the utility and application that non-fungible tokens can provide in the world of decentralized finance. Tangent aims to create a platform for the development of NFTs with utility and functionality in finance, and a concept we lovingly refer to as “operative artwork”.