Nft art finance buy11/17/2023 ![]() ![]() Take for example the NBA Top Shot platform that allows NBA fans to collect and exchange videos containing the actions of a basketball game via NFT.Īnother example is the WePlay Collectibles that are for people who want to be part of Esports events and show that they like players and talents in a different way, as well as merchandising. Other sectors like sports for example have also already incorporated these tokens into their business models. Buyers have a unique NFT that makes them the legitimate owner of the work.Īnd you should know that NFTs do not only appeal to art market participants: NFTs are also a real new opportunity for the digital art field because they allow you to fight against copying by offering a forgery-proof digital certificate of authenticity. But most NFTs are digital artworks, and many people are now collecting these digital artworks, just as traditional collectors have been collecting sculptures, statues, and other physical paintings for centuries. This simply makes it easier for the creators of NFTs to deliver rare and unique products to their collectors. Once a person owns this token for a work of art or any other achievement, he becomes the exclusive owner and only he can resell it. Before NFT it was difficult to prove that that file was not a copy, and this is one of the reasons why this concept has grown so much in the last few months.Īny digital file or real-world object that a creator wishes to make unique can potentially become an NFT. The big difference that moves this market is the exclusivity of having original art signed by the artist. ![]() Nowadays the number of digital artists has been growing a lot, with people developing digital art, videos, GIFs, or even music and audios. The importance of this digital authenticity format has always been in high demand, the question, “how do I know if this digital file is an original or a copy?”, has always been a doubt for many people. Moreover, anyone, by connecting to specific sites (such as OpenSea and Rarible), can check the code of each NFT that is permanently recorded on the blockchain. Thus, once uploaded, the NFT of the digital work remains there immutably. The difference with a classic work is that in addition to not being physical, it is impossible to counterfeit it, precisely because the Ethereum blockchain, like all protocols similar to this cryptocurrency, is not controlled by anyone and can be accessed from any computer and anywhere in the world. In summary: NFT stands for a non-fungible token and is a unique and unrepeatable digital signature that validates the authenticity of digital work and is contained in the Ethereum blockchain (a blockchain is a digital ledger, a decentrally shared data structure). that it is indeed the original creation and not a copy. In other words, these tokens allow you to prove ownership of an asset and its authenticity, i.e. NFTs (Non-Fungible Tokens) are cryptographic tokens that enable the sale of digital works, by means of tamper-proof and unique, non-exchangeable digital property titles. ![]()
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