What are NFTS and are they for me?

NFT's What Are They

 and 

How Do They Work?

By: Vanesa Solis

March 30th 2022

 

What's an NFT?

An NFT is essentially something that means that that specific something is the original of all the other digital pieces that might've used that same image. NFT stands for Non-Fungible Token that indicates which piece is the original and it goes on record so you can track the ownership of it and do many things regarding the licensing and all that sort of thing. If it gets destroyed it wan not be replaced. There are certain sites where you can upload and then sell it to make tokens off of it.

Can You Buy NFT's?

Yes. NFT's are sold on many platforms and range in price, depending on what type of NFT and the category in which you're looking for depends on which platform you'll be looking at. You'll need two things one being a "wallet" and have real money to buy something that's called cryptocurrency to purchase the NFT desired. As NFT's become more known they tend to rise in price and also are in high demand so they tend to be dropped as if they were big events. To learn more about purchasing NFT's click the link below!

How to Buy Non-Fungible Tokens (NFTs) | The Motley Fool

Using and Selling NFTS  (More in Depth for Dummies)

When you capture a certain picture or create a certain piece and it goes viral, people start using it more and more and lets say a certain individual realizes it and wants to buy the original piece from that point on they buy it off the original creator and from that moment on depending on how they settle the buy the original creator starts making money off of the image. If the original creator decides that they want to keep copyrights then every time their image or piece is used they make a certain percentage of the money.

"NFT'S are digital 
birth certificates"
-Dane Scarborough

Are NFT's For Me?

Honestly I think that NFTS could be for me, although it seems like something very simple it has to be something unique and something people would want and would be willing to invest in and not to be like that but I think that I'm a really creative person and a lot of people tend to like my pieces and things like that even when I don't so they'll go off of what I created and do that sort of thing so I think that its a cool way to get your art out there and make money while still getting the full credit for your art.

Are NFT'S For Everyone?

Although many people really love the idea of NFT'S and it fascinates them many others think quiet the opposite. Many people don't like NFT's because of the simple fact that they don't believe that's how money should be made, they believe that money needs to be earned so there's more so that aspect of envy in there that these creators are making easy and fast money while they're having to work hard and not making nearly as much. According toThe Baker Orange University another reason as to why people do not like NFT'S is because many get caught up in scams, other people also think once again that NFT's are unfair, that its not something everything can participate in due to not being able to afford the resources needed. What do you think? Do you think NFT's are for you?