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NFT Explained – The Best Places to Buy NFT

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If you’re looking for a great investment, you may want to consider investing in an NFT (NetFlix First Ticket). These are signed digital assets by artists you love. For example, Madonna signed an album poster and only 100 copies were issued. When sold, the poster is serialized. You’re not buying a signed Madonna poster; you’re purchasing the copyright to the artwork. The value of an original works of art comes from its incomparable status and the possibility that someone will counterfeit it.

nft explained

To buy NFTs, you’ll need a digital wallet and a cryptocurrency, most providers accept Ether. Most exchanges and providers accept Ether. When purchasing NFTs, be aware that most will charge a transaction fee based on the amount of crypto you spend. However, if you prefer to buy them directly from the creator, there are many democratic NFT marketplaces available online. Rarible is one such platform, where artists, creators, and fans can sell, issue, and buy their NFTs. The democratic nature of the site allows both buyers and sellers to weigh in on the features of their creations.

The value of an NFT depends on the demand for the item, and how many of them there are. For example, the organizers of sporting events sell X number of tickets for each game. If they sell only a limited number of tickets, the value of an original is higher than that of a replica. Another example is a ticket with an assigned seat. If no one wants to buy the NFT, it may never resell for its original price.

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