NFTs have made it possible for digital artists to gain recognition and earn money for their work.
With the rise of NFTs, artists can now create, sell, and collect digital art similarly to traditional art. Just like traditional art, digital art is created using various tools and techniques, but instead of a physical canvas, it exists in a digital format. Now, let’s talk about why NFTs can be considered digital art. Instead, you’re buying the digital certificate that says, “Hey, I’m the rightful owner of this specific digital creation!” It’s stored on a secure digital ledger called the blockchain, which ensures that your ownership is legitimate and can’t be tampered with. When you buy an NFT, you’re not purchasing the digital file itself, like a JPEG or an MP3. Each NFT is unique and has its own value. It just means that the item can’t be exchanged for something of equal value, like how you can’t swap a rare baseball card for any random card from the same collection. Now, you might be wondering what “non-fungible” means. Think of it as a collector’s item, like a rare baseball card or a limited-edition toy, but in the digital realm. NFT stands for “non-fungible token.” It’s a unique digital certificate that proves you own a specific digital item, like a piece of digital art, music, or even a virtual property. You love it so much that you want to own it, but how do you prove it’s truly yours in the digital world? Let’s imagine you have a favorite artist, and they create a one-of-a-kind digital painting. One Honorable Mention – The Highest Selling NFT.Beeple, Everydays: The First 5000 Days – $69.3 million (38,525 ETH) Julian Assange and Pak, Clock: $52.7 million (16,593 ETH) Beeple, Human One: $28.9 million (4,700 ETH)
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