Are NFT’s Real & Where Can They Be Purchased?
There are so many questions surrounding NFT’s (non-fungible tokens); “are they real?”, “what are they?”, “how are they different from regular crypto?”, “are they worth anything or are they a fad?” To put it simply, yes they are real. They are real digital assets that live in a digital space. Those who do purchase them own a token on the blockchain of the NFT, not the original piece of work. NFT’s can only have one owner at a time.
Where Can They Be Purchased?
NFT’s being digital assets, they can be purchased in an online marketplace where they are a available for a specific amount of time. Think of this like an art auction, items are presented with a starting price and bids are made. Items are also presented in a rapid-fire, limited-time buying segment. NFT’s work the same way only in a digital space instead of a physical one. Here is a list of secure sites to purchase NFT’s.
Some NFT Purchase Sites:
OpenSea
Rarible
SuperRare
Foundation
Nifty Gateway
Mintable
Why Would Anyone Purchase One?
NFT’s are practically digital collectibles like fine art or trading cards in the physical world. Many hold value, stock or importance to a community. Fine art, for example, has always held value and leverage among collectors and the general public throughout history; fine art was prestigious.
NFT’s are similarly traded in todays market in the digital space. The biggest reason for purchasing one is authenticity and scarcity. Many famous artists are creating NFT’s of their work and selling them exclusively for limited time segments. Since this is so new, there aren’t many availablewhich opens up a need for exclusivity or early-adopter mentality (scarcity). Think of them like Chanel handbags, they come with a serial number and certificate of authenticity upon purchase (they hold immense value due to quality and authenticity). NFT’s work similarly where the serial number is the blockchain and the authenticity certificate is the extra information integrated into the blockchain when the NFT is created.
The proof of authenticity of an NFT in its blockchain makes it impossible to fake (unlike physical fine art or designer handbags which can be faked). There are no fakes when it comes to NFT’s. The proof of pure, authentic art in the form of an NFT and the exclusive availability of them make them so desirable for a niche market of collectors.