NFT is a new technology, there are people who are ready to pay the price of millions, tens of millions, or even billions.
Since everything is converted to files, reproducing can be done at your fingertips. In the past, many of the works published in the digital world were for personal enjoyment, did not expect that one day those words would become works of great value.
What are NFTs?
An NFT is a ‘token’ where each coin is associated with a single digital file of work, whether it be video, music, or text, images. In a visual comparison, it is similar to a Title Deed, with each deed clearly indicating that Which plot of land does the owner owns? This innovation allows us to claim the sole ‘owner’ of digital works. Although anyone can download such works for free on the Internet.
The NFT tokens are an innovation born of Blockchain technology, which is the backbone of the well-known digital currency, Bitcoin. Ownership of works of art in coin form will not be reproduced. Also, everyone can check details about the creator of the artwork. Including the history of changing hands in such a detailed piece as well.
It’s also easy to convert digital artworks to be sold in NFT format. The coin is also highly liquid and easy to change hands. while the copyright still belongs to the artist who created the work. He or she receives royalties every time the digital work changes hands. Currently, there are quite a variety of NFT trading platforms such as OpenSea Foundation and Nifty Gateway.
But the crazy thing is People are willing to pay NFT $69 million for a work called “First 5000 Days” by the artist “Beeple” or even a global company like Twitter does not miss out on the collection.
And recently, the NFT world and the crypto world were stunned. Everyone’s eyes are on ‘EtherRocks’, one of the oldest NFT collections ever. But it’s only recently that people actually turned to look. It was recently And someone bought it for tens of millions.
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