NFT: Non-Fungible Tokens

NFTs or Non Fungible Token are inimitable assets. In the digital world, the sale of these assets is compared to the sale of a property or any other type of asset, with the difference that these are intangible.

How do they work?

NFTs are digital art that can be tokenized by creating a digital certificate of ownership that can be bought or sold.

Like cryptocurrencies, NFTs have a record stored in a blockchain, this record cannot be falsified as it is secured in the memory of thousands of computers around the world.

An NFT can be any type of file, image, audio, video, gif etc. Thanks to a regulation defined by a Smart Contract, the artist receives money in exchange and according to the rules of the marketplace in which the sale is processed the intermediary charges a percentage of the sale.

Many of the artists who develop NFT, have the copyright of their works of art so they ca sell copies of them and always be able to have sales income. For the NFT buyer, the person who holds the original proof of ownership is the owner of the work. This is like proving that a contract has an original signature.

The theory is that anyone can tokenize a project and sell it as NFT, the only thing is that the interest has grown due to the demand of the product at the moment.

The “value” given to NFTs is due to their rarity or the way the art developer gives visibility to the project. Some of the characteristics of the NFTs that have produced millionaire sales are:

• Unique pieces
• Not interactive
• Indivisible
• Indestructible
• Absolute ownership
• Verifiable

The development of an NFT project can be “easy”, but it does not mean that it has a great initial sales value, that is why it is important to have a team of professionals who help the project to have the visibility and an efficient communication strategy to each project. We can help you develop your project taking into account all the details so that it is a success.