Do you know that the digital art of Amitabh Bachana was sold for 7 crores?
So, what exactly is Digital Art (NFT), and why do people spend millions of dollars on it?
Namaste People Manoj here, and welcome to Corta News. You’re reading our most recent post’s highlighted concepts. What exactly is NFT? Blockchain? Explained. Corta News was India’s go-to source for tech and mobile news. You can find the most up-to-date case studies, Smartphone news, and opinions on technology.
Say “Hey Google Read this” 🔊. Now sit back and relax; Google will read it, and all you have to do now is look at it in parallel. (1.3X faster)
So here you can learn about
What is NFT?
Dark Sides of NFT?
How to earn money through NFT?
The NFT stands for Non-Fungible Token. Fungible refers to something that can be replaced. Non-Fungible refers to anything that cannot be replaced.Tweet
Did you buy any NFT till now?
What is NFT?
The acronym NFT stands for Non-Fungible Token.
Fungible refers to something that can be replaced. Non-Fungible refers to anything that cannot be replaced.
You may, for example, purchase a book (now reading) called Atomic Habits. However, you cannot buy a book that I am now reading and utilizing because I have attached some notes and highlighted some key parts. As a result, it is unique.
A token refers to the purchase or sale of a ticket.
This purchasing and selling take place on the blockchain platform.
What is Blockchain, how has it been useful, and what does it hold for the future?
If you want to learn more, follow us on social media; we’ll be posting next week.
The majority of NFTs are currently digital art. As a result, you can purchase Digital Art and become its owner🤔🤔.
The first tweet from Twitter’s CEO was sold for more than $2.9 million, and Amitabh Bachanas’ NFT (Thumbnail) was sold for more than 7 crores.
BUT WHY ARE THEY PURCHASING THEM WHEN I can get them for FREE?❓
How to make money from NFT
NFTs, in my opinion, are gen-Z stocks. For NFTs, Openasea was the place to go. That is where you can buy and sell NFTs.
You can profitably buy and sell some popular NFTs. As a result, you will be able to make money.
If you’re an artist who creates an NFT, you can sell it on Opensea and earn a commission on each transaction.
I’ve been reading to this magazine Who Owns Our Future on Magzter. They discuss cryptocurrency in this article. So, have a look at the magazine.
You’ve learned so far.
What exactly is NFT?
How do you make money with NFTs?
What are the negative aspects of NFT?
Dark Sides of NFT
As I previously stated, you can acquire ownership of an NFT by purchasing one. However, you will not be able to obtain complete possession. Others can use your NFT to print on their T-shirts and sell them. Others can also download and claim ownership.
Many NFT clubs, such as the Bored Ape Yacht Club and the Lazy Lion, are selling their computerized digital art for at least $100,000. These businesses have identified a trend and are profiting handsomely from those who follow it.
Yes, it may appear irrational. A website existed where you could purchase a digital edition of Land. But why is that? What can he do with that fictitious land? He had no authority to say it was his place if he bought it as well.
If you want to learn more about What NFT and What is BlockChain, go to the original post.
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