What you need to know before buying yours

The NFTs market has grown significantly in recent years

The NFT industry has grown over the years

  • NFT is a specialized digital device, with blockchain recognition technology

  • NFT industry growth 21,000% year-on-year

  • You need to be careful when making your first purchase.

Despite having been around since 2014, NFTs (non-fungible tokens) have been gaining traction in recent years, largely due to the multi-million dollar market share of some of the digital assets. no. An example is Daily: The first 5000 days, which have become the most expensive NFT ever sold, were bought for US $ 69 million.

As it is still a recent product in people’s minds, many are still skeptical about NFTs, so Jaime Miralles, Blockchain Manager of N5, a software company for financial services, has isolated some of the information on this technology that has presented a unique opportunity for digital exchange. ..

What are NFTs

Unlike fungible tokens such as cryptocurrencies, which are identical to one another, for example a Bitcoin cryptocurrency is the same as other Bitcoin, NFTs are cryptographic assets with unique tokens and information that differentiate them from alone. “This is why it has made it so profitable and many have started investing in these digital assets. NFTs can not be exchanged for the same,” explains Miralles.

“Blockchain technology allows NFTs to be proved to the public, as digital signatures that acknowledge ownership and its originality. Tokens can not only have a legal owner and Membership information cannot be modified in accordance with the terms of ownership and exchange of tokens. “

Check out the following key points to keep in mind before starting a business in the NFTS market:

Want to buy NFTs? Take a look at three of the biggest platforms on the market to see:

OpenSea.io

This peer-to-peer platform includes itself as a provider of “rare and stored digital products”. To get started, simply create an account to rent NFT domains. You can sort the items by eye packaging to see the new artists.

rarely

Like OpenSea, Rarible is an open source and independent platform that allows artists and developers to produce and sell NFTs. RARI tokens placed on the platform allow their advisors to discuss costs and community policies.

Foundation

Here, artists must be selected or invited by another designer to publish their artwork. Community isolation and entry fees – artists will also be required to purchase cryptocurrencies to fund NFT – means that high-performance graphics can be desirable. This could also mean higher costs, which are not necessarily bad for performers and revenue earners, as long as the demand for NFTs is still at its current level. – or even increase.

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