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NFTs ; Why they are so valuable
Recently, the art world turned upside down with the sale of a digital collage for $69.3 million. You could argue that this collage already exists on the internet and anyone can easily download it — for free just like any other digital item. However, being an NFT makes it different.
NFTs hold their value as a form of cryptocurrency, except, every NFT is a unique token that can’t be traded for another. When you buy an NFT you gain the rights to the unique token on the blockchain.
So, what exactly makes NFTs so valuable, to the point that people are spending millions of dollars on them?
- Originality
When it comes to the digital world, it is very easy to copy work and distribute it. This makes it very difficult to tell the original from the fakes. NFTs contain ownership details of the original piece for easy…
