WHILE the community of freelancers in the country is actively participating in the global space, there is a new opportunity that should interest Pakistanis in any field of activity. It has enormous earning potential that has yet to be fully explored.

The demand for non-fungible tokens (NFTs) in Pakistan is rapidly increasing. NFTs have emerged as a new form of digital asset that is revolutionising the art, gaming and collectible industries globally, and Pakistan is no exception to this phenomenon.

NFTs are unique digital assets that can represent ownership for a wide range of digital and physical items. Artists, creators and collectors have embraced this technology as it allows them to monetise and trade their digital creations in a secure and transparent manner. It provides an avenue to the artists to showcase their work and receive fair compensation for their efforts.

In Pakistan, a surge in interest and participation in the NFT market is being witnessed. People are ctatching the attention of global audiences with their artworks. These artworks are built on blockchain networks that consume a significant amount of energy. The potential of NFTs could be gauged from the fact that a meme was recently sold as NFT worth $49,866.

There is a need for awareness among Pakistanis regarding NFTs. This tech- nology is new, and individuals may find it difficult to understand. Awareness about NFTs and how this market operates will ensure responsible participation in the NFT market, for this will signify the country’s capacity for digital innovation and creativity.

Talbia Syed
Karachi

Published in Dawn, July 18th, 2023