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making #money from #nfts
Can You Make Money From #NFTs?
How much would you pay for this artwork? In march, twenty twenty one, this art piece created by digital artist, people sold for over sixty nine million dollars becoming one of the most expensive works of art ever sold at an auction, the catch? Well, it doesn't exist yet not physically. At least it's all. Thanks to a trend is known as an f. T's are non fungible token, and in recent years it's taken the art scene by storm in two thousand and eighteen I went to a using especially credited with bringing it up to you to the art world. I'm and what happened was I gave away three hundred free enough to you know fast for three years, each of those three hundred and up to use that we gave out was like a physical card, but you could caution are worth about a million dollars. This piece is called knock out. It was actually the first piece that I painted during twenty twenty one. So now this is the most expensive n, f t that are sold today. I paired it with this physical piece. I sold it for the equivalent of about seventeen thousand dollars. Us market has seen explosive growth in twenty twenty one during it's third quarter, an f t trading buying hit ten point: seven billion dollars. Seven hundred and twenty three percent gain from the previous quarter and a staggering gain of over thirty eight thousand percent year over year. It's become something that was a bit of a novelty to something that's become a lot more mainstream very very rapidly, and this is partially due to the fact that a lot of celebrities and people who will nine hundred kind of jumped on the bandwagon and give it a kind of credibility. I think it's also being pushed very strongly bought. Sixty sir currencies us another, why is basically an ng money and gaining value researcher currencies but n f t the sunshine growth has also led to a deep skepticism over it's market. I think the technology on the lining and his tea is useful and has practical applications. How it's costs cb at the moment is just one rolling series of matt to mania style bubbles that sold. It really is together with some very ugly op, so just how do non fungible tokens work and is it an asset worth investing in yeah and if these refer to unique one of a kind digital assets that are verified and stored, using blockchain technology, they're, mostly treated using crypto currency and n f t specific market places such as open seat are super rare early days recalled we didn't even call them at to use. We would call it art on the block chain or before that we were caught, knowing a dank rare as the simplest way to describe a non fungible token. Israeli, really a digital representation of ownership, I'm in a individual aspects, so taking any sort of item property, a contract and essentially digitizing it and.
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