Non-fungible tokens or NFTs are valuable and in high demand since they have the potential to produce thousands of dollars in income. Currently, NFT is a frequently debated issue. After a cute video of a small child got viral on the internet, its popularity skyrocketed. The owner of the movie then auctioned it on a special NFT platform for more than Approximately USD 760,000, or Rp 10.8 billion. This prompts YouTube to instantly delete the video from the channel for copyright issues since many accounts post videos without the owner’s consent. At the same time, its existence is the subject of much debate. There are several perspectives and hypotheses floating. In addition to online debates, cyberspace was filled with praising or condemning tweets and exclamations.
The benefits of NFT Investment are as follows:
- The value of NFTs is anticipated to continue to rise.
If you purchase a unique and uncommon NFT that is only accessible in limited numbers, it is quite probable that the NFT’s value will continue to rise. This is because if the NFT creator decides to limit the number of tokens, the NFT will retain its uniqueness. Therefore, if you choose to resell the NFT, a price increase will be of significant profit.
- The assemblage of authentic digital assets
If you have high regard for art, you will definitely seek out original pieces. This NFT investment can be one of the means by which you can become a genuine NFT collector and obtain a digital certificate of ownership. Every NFT you purchase includes a unique code that may be used to verify its legitimacy.
- Reduce the likelihood of artwork being copied.
One of the issues faced by content creators is that their work is susceptible to plagiarization and imitation. However, by registering NFT artwork on a blockchain or digital data bank, it is possible to reduce the likelihood of counterfeiting and the circulation of counterfeit works, since they would first undergo blockchain authentication. Unique and uncommon non-fungible tokens will have high resale value on the digital market. Thus, there are numerous individuals who purchase NFT in order to resell it for a profit. However, it should be noted that, like any other asset investment, NFT carries investment risks that can be detrimental if care is not taken.
- Smart contracts
As their legitimacy is validated on the blockchain, NFTs cannot be manipulated or substituted in any manner. Authenticity’s intrinsic value becomes its actual extrinsic value as well. A series of coded commands built into the blockchain can ensure that artists and content creators are compensated based on their work’s future use and resale.
- Ownership pride in works
NFT offers direct methods for art collectors to support the creative community and acquire unique goods.
- New revenue
Some non-fungible tokens are intended to assist artists in earning more money on digital platforms. Buying and selling digital assets on the NFT marketplace may increase the number of possible purchasers and vendors. If their work is well-liked on the Internet and fetches a premium price, the artist might gain financially.
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