2022 has just started, but it seems like some tech trends from 2021 are coming back bigger than ever. The app Twitter has just announced that you can now use non-fungible tokens (NFTs) as your profile picture, and other social media giants like Instagram and Youtube are developing technology to do the same thing. 

But what exactly is an NFT? It seems like all of the tech chatter today revolves around them, but no one can give a clear dictionary definition of an NFT. The truth is, the concept of an NFT is hard to understand if you’re not a crypto enthusiast, but it’s still important to know the term. To fully grasp NFTs, the first thing you have to understand is cryptocurrency. Many people are familiar with Bitcoin, a form of online money that can be used to buy from online retailers, service providers and stocks. NFTs use Ethereum, which is often compared to Bitcoin. However, Ethereum operates much differently. Ethereum is a program, and it’s “coin” is called Ether. Ether and Bitcoin are similar, but not interchangeable. Ethereum itself is a blockchain– basically a huge database that includes things like NFTs.

So what is an NFT? NFT stands for non-fungible token. To the average person, none of those words make sense either. Fungible means something that can be traded and have the exact same value. For example, a dollar bill is fungible because it can be traded for four quarters. Non-fungible means that it cannot be traded or replaced for the exact same value. Basically, all NFTs are unique and different. They are sometimes compared to trading cards in that aspect. Once you purchase one, you are the sole owner of that NFT. Your ownership is verified through the Ethereum blockchain. Usually, NFTs are a digital art form, which includes gifs and video art. Some sell for millions of USD. However, as with all digital art, they can be screenshotted or downloaded. So how are NFTs unique?

NFTs are only unique because of the value of proof of ownership. You can download or screenshot an NFT, but only the original purchaser has proof that they are the owners. This is similar to copies of works of art, like those you can get at museum gift shops. It’s not the original art, but it looks the same. 

So what’s the point of all of this? If you’re an artist, NFTs are a good way to get your art out there, and if you’re interested in the world of crypto, it can be a way to build your digital dollars. If you are interested in buying NFTs, they can be a good way to support artists you like, and maybe even get a unique Twitter profile picture- until other people screenshot it. But don’t worry, you’ll be the only one with proof of ownership.

However, NFTs have recently come under a lot of fire from environmental groups, as has cryptocurrency in general. Remember the Ethereum blockchain that NFTs operate on? It requires a massive amount of power to run. Like, massive. According to Forbes, one transaction that’s run on Ethereum, like buying an NFT, requires the same amount of power as a house in a workweek. For years, the owners of Ethereum have pledged to create a more environmentally friendly version, but so far no changes have been made.

So, as a college student, should you invest in NFTs? It’s your personal choice. If you trust the cryptocurrency infrastructure and don’t care about the environmental impacts, go right ahead. However, for the average person, NFTs are just another non-essential in our ever changing world of technology today.