What are the advantages of NFTs?
Non-Fungible Tokens (NFTs) are the latest buzzword in the blockchain industry. They are proving to be an exhilarating offshoot in the crypto world. However, with all the excitement surrounding them, you may naturally wonder how beneficial they may be. As a seller, a buyer, or a future investor. Here’s how NFTs will work in your favor.
- Decentralized marketplace
NFTs allow creators to make money directly from their work. A great example is art, where someone would require an agent to sell and market their work. NFTs eliminate these middlemen and allow the artists or the original creators to interact and transact directly with their customers. This model further benefits the creators by allowing them to earn a commission each time the NFT exchanges hands.
They are rare in that only one of them can exist and can’t be easily forged. In most cases, an artist or a seller will have a handful of NFTs — as opposed to thousands. It is therefore safe to assume that you will be one of the few individuals that would own these collectibles
Technically all NFTs are collectibles. As mentioned above, they are unique and only one of each can exist. Upon buying them, you can hold on to them and their value will increase over time.