With everything going digital nowadays, certificates have gone digital as well. But NFTs are no normal certificates. NFT or as we call them the Non-Fungible Token are digital certificates of ownership.
For many of you who have or their parents have been into the stock market/bonds and many other such financial/investment options know that earlier, back in the 1990s all these instruments were issues based on the figures mentioned on a piece of paper. For every stock/bond you owned, full detail along with the quantity of the units used to be mentioned on a physical piece of paper. Then as time passed and technological advancements came in, these certificates changed into digital certificates through the dematerializing process.
Non Fungible Tokens are based on the same concept only. The only difference between the NFTs and the stereotypical certificates is that NFTs can technically show ownership of any asset, especially the digital ones. Yet another difference is that these NFTs are digital certificates meaning that there is a swift exchange of these certificates over the internet ultimately leading to a quicker change of ownership of assets.
NFTs are profoundly used nowadays especially for digital assets like music, graphics, images, and much more. The whole concept of NFTs is simple. The NFT will declare ownership of a bunch of digital assets. Anybody who wishes to sell them posts them online on respective platforms where buyers are ready to spend millions and billions of dollares. Once a desirable buyer is found, payments are received generally through crypto currencies like Bitcoin, Etharium or any other. One factor to note is that just like cryptocurrencies, NFTs also belong to the unregulated markets so who so ever wishes to be a part of it has to go through the risk involved with them.
But is it easy to earn from NFTs?
So the question which arises now is that should you or should you not start an NFT yourself?
Well, the answer is both a yes and a no.
Whosoever is thinking to start an NFT needs to realize that creating an NFT and selling it are two different concepts. In order to sell an NFT, you have to show your ‘Sales and Marketing’ tactics in order to find buyers. At the end of the day, it all comes down to how well you can promote NFTs. If someone is running paid campaigns on Instagram and Facebook for the NFT, chances are they will get a buyer soon whereas the one trying to promote it through organic ways might still find it hard to do so.
But, as we said, the answer is not just no. Its a Yes for you if you want to start making NFTs just for experimental purpose or you believe that the skill/asset you are sharing is worth getting attention and the money it deserves (what we call as ‘Quality Content’), then you can surely give a try at NFTs
History and future of NFTs
The future of NFTs looks very bright. Just like cryptocurrencies, NFTs are picking up recently. Many investors and companies have also emerged dealing specifically with NFTs. Celebrities like Logan Paul have also started their own NFTs. In a nutshell, NFTs are nothing but an advancement towards a better future.
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