A first look at any NFT art might make you think it’s just a picture. If you were told that digital art is worth millions of dollars, you will probably look at the person dubiously. However, NFTs can be worth so much that if you have the opportunity to buy one, then you should.
At this point, the question is what makes NFTs unique and why should anyone buy them when you can see the pictures anywhere and screenshot them? The answer lies in the way NFS is created. They are built on the blockchain which enables them to be publicly authenticated without a centralized authority. The blockchain also serves as a digital signature to certify ownership and originality. Hence, there can only be one NFT at a time. Another major reason people are fascinated with it is money. A single sale can generate more money, enough even to change people’s lives.
Many NFTs are used as digital collectables, and for important digital mementoes. Things ordinary pictures can not be used for. NFTs can’t be replicated. There is only one copy of it but pictures can be replicated as many times as possible. NFTs are more than images. When you take a screenshot of a picture online, you don’t own that image, but with NFT, it’s entirely yours with a digital id that sees it as thus. That said, here are reasons you should buy NFTs.
NFTs Preserve Value
NFTs preserve value. They are not being controlled by a central bank just like traditional banks are controlled by central banks. Thus, they are not in any way affected by central banks’ policies.
They are a digital store of capital due to their ability to preserve value. NFTs are not affected by inflation. This makes them unique from like traditional fiat currencies. Buying some NFTs is considered a smart, safe and stable investment option. You can buy and sell off later.
NFTs are profitable
Profitable investments tend to have more people actively pursuing them. That is how NFTs are. NFTs cannot be divided like fiat or crypto but they can be worth more than any of the cryptocurrencies they’re bought with. This uniqueness makes them a desirable investment for those looking to make a profit since their value depends heavily on demand and how much someone is willing to pay for it.
To Access Exclusive Perks
NFTs ownership is exclusive. Only one person can own them at a time. Hence, they confer exclusive ownership to their holders. This means that users can own digital assets that are not available to anyone else.
If you happen to own any NFT belonging to a music artist, it grants you exclusive access to his shows, music, merchandise etc. Consequently, it can give you access to certain perks, such as entry into exclusive online forums and early access to upcoming NFT collections.
To Secure Digital Ownership & Rights
Piracy and property rights are the banes of artists and other creators. One can do a job, and another person replicates this and takes credit. That is not so with NFTs. Owning NFTs is a secure way to verify digital ownership. Every. NFT are tracked and verified on a decentralized blockchain, making it practically impossible to forge or steal. This makes them ideal for safeguarding digital rights, especially in the case of physical assets like real estate.
Although NFTs are the rave. People are sceptical about them. If this is you, you should dispel that thought. The only thing is that before you buy one, you should first determine why you are buying them. Again, research properly before buying any art. The NFT market is growing and evolving, it may or may not meet a decline as experts think. You should consider investing it now that crypto is still down.Featured Image Source: Ledger Insights
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