According to the Oxford dictionary, the suffix ism usually refers to a political ideology or an artistic movement. We typically associate it with potent words such as Capitalism or Expressionism, words that describe currents or beliefs practiced by billions of people and that generated a very profound impact on man’s life at a particular moment in history. Today, the emergence of the Blockchain is causing an unstoppable revolution, a social phenomenon so powerful that, over time, we might even call it “NFTism.”
An NFT is a non-fungible token. However, despite its widespread use, the definition of the token remains complex. While it is undoubtedly a capability derived from Blockchain technology, a token represents a concept: the democratization of value. This phenomenon can already be observed in many areas of human activity; however, it is in art and economic policy where NFTism is beginning to gain notoriety.
Learning without boundaries by Roï Dov Pessis