Benefits:-
#1.DECENTRALIZED MARKETPLACE:- NFTs allow creators to make money directly from their work. NFTs eliminate these middlemen and allow the artists or the original creators to interact and transact directly with their customers.
#2.UNIQUE:- hey 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.
#3.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.
#4.RESEALABLE:- Most people will get involved with NFTs for the prospects of making money. There are a lot of people earning a living from reselling them.
#4.IMMUTABLE:- The metadata on the token can never be altered by anyone. Also, it can neither get erased, misplaced nor be removed from the blockchain.
#5.COPYRIGHT:- NFT allows artists and content creators to retain their full copyright. This is uncommon in most licensing agreements. This allows them to still generate revenue without giving up their copyrights.
#6.SECURITY:- The blockchains are decentralized in nature, which means that the data they hold is hosted in different nodes around the globe. There is always an identical record of the database at each of the nodes. The NFT technology gives you an assurance in knowing that no matter what happens to the blockchain itself, there are always nodes running.
Utilization of NFT
Digital Art
Fashion
Licenses and Certifications
Collectibles
Sports
Name service and domains
Virtual worlds
Gaming
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