NFTS has gained popularity over the past two years. Where it has expanded to include artistic and music works and also included the first tweet of Jack Dorcy and toilet paper.
Can these digital assets be sold up to millions of dollars?
Yes, as you read, toilet paper is sold for millions of dollars.
What is NFTS? and How does it work?
NFT is stands for "non-fungible token". which basically means that it's a one-of-a-kind digital asset that belongs to you and you only. The most popular NFTs right now include artwork and music, but can also include videos and even tweets.
non-fungible: this means it is unique and can not be dispensed with your car key, your dog, or draw your child on the refrigerator.
Unique: means that the only one on this planet, thus adding emotional values to these elements, making it high.
Yes, NFTs are worth the money, many of you think. But what's all the hype about? Like the dotcom craze and beanies, some experts believe that they may be about to burst. The other side believes that NFTs are here to stay and will forever transform investment.
When did NFTs Appear? How did you Spread?
The first NFT project was launched in 2015 on Ethium Plasticin, and increased attention with increased attention to cryptocurrencies.
The total benefit and the total cash for NFTS grew significantly in 2021, where NFTS sales exceeded Dollars during the first quarter of the year; More than 20 previous quarter sales.
Can NFT Swap with cryptocurrencies?
The dollar can be swept to another, or even Bitcoin can also be replaced in another currency; As their value remains constant, but NFT can not be replaced by another.
The reason is that each element of NFT is originally different, and therefore has a different value.
What are NFTs benefits?
While the Internet has long allowed sharing our digital creations, we have never had a way to check out the original business and ownership.
Now, thanks to NFTS, we can finally attach a guide on the ownership of unique digital assets.
NFTs can create artificial scarcity so that you can sell something at a higher at a limited supply limited.
Market efficiency is also the most obvious feature of NFTs. Focus a physical element to digital origin simplifies processes and eliminates intermediaries.
On Blockchain, NFT represents digital or physical works, which cancels the need for agencies and allows artists directly with their customers.
NFTS differs from traditional investments, such as stock and bonds, it is through the addition of NFTS to an investment portfolio, you can improve its efficiency, by achieving a better balance between risks and return.
Where Can You Buy or Sell NFTS?
Because NFT is purchased in encrypted currencies, you will first need an electronic portfolio, and then turn your money into a digital currency such as Ethereum.
There are many platforms that allow you to buy or sell NFT, including:
OpenSea is the largest market for NFT and is better related to Ethereum compared to other basic systems.
Are There Risk to NFTs Transactions?
NFTS trading includes technical procedures for frequent interpretation, leaving investors puzzled by their order. Each time you connect to Blockchain, you will have to pay fees to cover mining costs, and even if you do not buy anything you will have to pay the costs.
Thousands of people are often pushed to buy NFT elements very desirable as soon as they are issued, and therefore difficult to purchase.
Did Buying NFTs Mean that I became the Origin Owner?
NFTs have not granted copyright for any digital origin represented by its distinctive symbol. While someone may sell NFTs representing its work, the buyer will not necessarily receive copyright privileges when changing the ownership of NFTs. This allows the original owner to create more NFTS for the same work.
In this sense, the NFTS is just evidence of the property separate on copyright, Where the buyer does not have copyright and publish for the basic work, but the original owner has been explicitly transferred.