What is NFT ?
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What can an NFT be?
An NFT is a type of digital asset that connects ownership to particular tangible or intangible objects. An NFT can be any digital file, such as an artwork, like 'HIKERS WHIZ TURTLES',an article, card, game, ticket,music , pictures, or even a meme such as “Disaster Girl” .
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NFTs are not independent.
Value is another aspect of the NFT epidemic that is having a significant impact on the design sector. How much more valuable do you think a real-world piece of art is than a digital one? Additionally, the price of cryptocurrency serves as the primary basis for the value of NFTs and CryptoArt. Because NFTs are priced in terms of Ethereum, which is then converted into dollars, for instance, an NFT can be purchased for 2 Ethereum, which equals around $2,255 in our currency. The artwork's value is constantly dependent on the value of the cryptocurrency; thus, if Ethereum's value were to decline, so would the artwork's.
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Market value of NFT artwork
Due to the nature of NFTs, it is challenging to determine the present size of this developing market. Each NFT artwork has a unique value and market because of its unique character. NFT art sold for approximately $650 million in August 2021, according to reports from NonFungible.com, An online database of collectibles, metaverses, utilities, art, sports, and gaming. NonFungible.com estimates that the global market for NFTs was worth over $2 billion during that month.
An NFT Marketplace is a location where you can mint, trade, purchase, and sell NFTs.
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