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What is NFT Art?

 


What are NFTs?

NFTs is short for Non-Fungible Tokens. These digital objects are based on the blockchain but are non-fungible, ie not reproducible. They are unique and cannot be duplicated. In contrast to a Bitcoin, for example, all NFTs only exist once. You have a unique digital signature. 


Most NFTs are based on the Ethereum blockchain, but other blockchains like Solana are also the basis of the unique tokens. NFTs became famous as digital works of art that are distributed on digital trading platforms. But NFTs are also becoming increasingly popular in the gaming sector.


Where are NFTs particularly popular?

NFTs have become increasingly well-known and popular over the past 2 years. Non-fungible tokens have found their way into many areas. The most important area was NFT art. More and more NFTs depicting memes or cartoon characters came onto the market. Digital auctions were created that were open to everyone.


NFT Wallets

Gaming continued to be a major factor in the hype surrounding NFTs. NFT gaming is growing in popularity, and NFTs have found their way into the Metaverse and other decentralized games as rewards and collectibles. Other areas are music and the sports world (e.g. NBA Top Shot).

What makes NFT art so special?

The uniqueness of NFTs made the digital artworks collectibles. A large fan community formed around the digital images, which often depict strange animals or objects. Certain NFT collections became famous. These include, for example, the Bored Ape Yacht Club and the Degenerated Apes. This article goes into more detail about these collections.

The special thing about these NFT collections is that they are accessible to everyone via the Internet. As a result, the art market has opened up massively and more and more new interested parties are taking part. Of course, artists can also earn a lot of money by selling their own NFTs. Thanks to the unique digital signature, ownership is always securely regulated.


What are the benefits of NFT art?

NFT art has many advantages over classical art. NFTs offer the following advantages:

NFTs are unique and tamper-proof. Ownership is clearly regulated by the digital signature.

Access to NFTs is much easier. Art auctions in the analogue world are only accessible to selected connoisseurs. At NFT Art, anyone with internet access can view and trade the art.

The younger generation in particular is interested in art. This opens up the art market to a new section of the population.

Artists get a percentage of the sale. These fees are automatically paid to the artist for each sale through the trading platforms.

Where to trade NFT art?

There are numerous NFT trading platforms on which you can now buy, sell, but also create NFTs. These platforms have hundreds of collections of NFTs that are now fetching high prices.

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