NFT's Long Story Short

If you are into cryptocurrencies. You'll probably already know what NFT's actually are. But if you are not, don't worry, we got your back 😄 Due to the development of fintech, programmers found a way to make transactions even more complicated! Hahaha.

As we already know, every genre of art, such as drawings, sculptures etc. can be sold for very low price, or even a very high price. That's because every single piece of art is unique (thanks to the artist, the date that the piece was created, the colors, the way of creation and many many more factors). Thus, selling a piece of art has not a certain price, but its price is defined firstly from the creator and then, from the supply and demand.

For example, let's say that an artist draws a painting and he sells it at an auction for 100$. The buyer arrives and he buys the painting. After 1 year, the artist becomes very famous because of his talent and his publlic visibility. Now there are hundreds of people who want to buy a painting of the artist. The thing is, that there are only a few paintings in the market.

So suddenly, the price of every painting increases deadly, because the leads (consumers that want to buy) are a lot, and there are only 100 drawings in circulation.

Finally, our buyer is able to sell the drawing for 600.000$. You see? Some things, is difficult to give a price to.

That's what is happening right now in the NFT's markets. Although the art pieces are digital and that is why they are called Non Fungible Tokens. You can't actually touch them, or have them converted in physical items. Everyone can create an NFT if he knows how to photoshop, graphic design and knows how to marketing. Just know that, in order to upload an NFT to a market you have to pay first (with real money) to give it a value ($$).

In my opinion, you won't have success if you are not an artist that uploads content of his art consistently on social media. But that is up to you...!

Where you can buy, sell and upload NFT's:

OpenSea. The first and largest marketplace, OpenSea focuses on every type of Non Fungible Token (NFT).
Decentraland. Decentraland is an informal NFT marketplace, it’s best described as fully decentralized digital world – a Sims-like virtual reality.
Super Rare. Super rare, as the name states, deals in super rare art. ...
Rarible.
Enjin Marketplace

So, summing up, NFT's are considered as (digital) assets and are here to stay. They definitely bring something new to the economy, technology and gaming sectors and will have a huge rise in the future.

There are already huge transactions that have been done on NFT's and you can check them by just googling it.

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