NFT a hoax?

 

"NFT", "Bitcoin", "Etherium", "DogeCoin", these may be the few words you might have been hearing from past these few months. In this blog, we will be covering what are NFT's and one of the reasons it is blowing up. NFT ( Non-Fungible Token) can simply be termed as a digital form of art. If you can purchase paintings or art-related artifacts in Real-world or in Physical form similarly you can purchase various arts, digital paintings in virtual form. 

Now people here often get misunderstood that NFT is just an jep image that they can copy and paste on their computers and don't fuss about it. But they fail to understand that when you purchase an NFT you would be having all its IP (intellectual property ) and this purchase and ownership would be registered on the blockchain. Also depending on your purchase NFT also comes with various advantages such as exclusive private events, party invitations,s, etc. You can purchase NFT with various cryptocurrencies but the most widely used now is Etherium, and the most widely used website for purchasing NFT's is OpenSEA you can find various NFT projects here and all of them are verified.

Some of the most famous NFT projects are Bored Ape Yacht Club, Crypto Punks, Mutant Ape Yacht Club, also recently famous shoe manufacturing company ADIDAS has also taken the initiative to join the MetaVerse hence they came up with their own NFT. Famous internet personalities and rappers like FUTURE have purchased NFT worth 200k dollars and basketball player Stephen Curry has also purchased Bored Ape Yacht Club NFT, this is NFT is quite popular because it has various benefits like an invitation to private Yacht parties.

So we can infer that NFT has just begun and has a long way to go and so do we therefore now is one of the best times to research and purchase NFT because the prices depending upon the rarity and project company the prices can get tripled or even quadrupled overnight, do your homework and purchase with your own caution also just don't buy them to flip them buy them with interest that's how you will learn most in this market.