Non-Fungible Tokens (NFTs) are not the only crypto or digital assets you can invest in. there are several other digital asset classifications that you may also want to consider.
What matters the most is that the assets you want to invest in have the fundamentals and mainstream adoptions that will send them to the moon – in terms of an increase in their prices or valuations. That is perhaps, one of the reasons why many cryptocurrency investors are bullish on Non-Fungible Tokens (NFTs).
NFTs are not only crypto tokens but are also a means for artists to get rewarded with what their works are worth. So, if you are looking to make money from NFT as an artist, I have something you may be interested in.
INTRODUCING HUP LIFE
Hup Life is a decentralized marketplace where Non-Fungible Tokens (NFTs) are traded. You may be wondering the reason for an independent NFT trading platform when you can easily buy any NFT of your choice from marketplaces, such as OpenSea. It is also possible to purchase NFT crypto tokens, such as REEF from cryptocurrency exchanges, such as Binance.
As much as those mediums are available for you to invest in NFTs, there are some existing issues that you want to be wary of. It is those challenges that Hup Life wants to resolve via this independent NFT marketplace.
THE PROBLEMS
Here are some of the existing issues that you do not want to be entrapped in when investing in NFTs:
- CENTRAL HOSTING
Both the metadata and the hyperlinks or URL pointing to the location of the NFT are under central control. On the one hand, the ICAAN oversees URLs and hyperlinks. On the other hand, the metadata that doubles as one of the most important elements of an NFT is hosted on a central server.
This means that NFTs may not be fully decentralized and artists may not be able to fully harness the benefits of converting their work to digital artworks and make money from the same in the form of NFTs.
- NO COMPENSATIONS
You must have realized that artists who are using the traditional NFT system are not likely to be compensated for the future resale of their work. Only one payment is made, and that is final. Additional income generated from NFT resale isn’t shared with the artists.
THE HUP LIFE DIFFERENCE
Hup Life believes that more opportunities can be carved out of the Non-Fungible Tokens (NFTs) market, only if there was a viable platform or project that will tap into the other aspects of NFTs.
The Hup Life project believes that NFTs are more than an avenue for artists to make money from their real-life work that was converted to NFTs. The project instead believes that more can be done, such as protecting the digital artworks (NFTs) from the copyright and other malicious activities that can overshadow the efforts of the original artists behind the artworks.
To that end, the following solutions were proposed:
PRIORITY FOR ceNFTs
Hup Life came up with the idea of Copyright-Enabled NFTs (ceNFTs). This is partly because this project is interested in the prevention of copyright infringements on NFTs and mainly because it wants to create an avenue for artists to maintain maximum control over their digital artworks.
NFT PERMANENCE
Ironically, NFTs aren’t permanent under the traditional system because of the influence of centralized platforms.
However, you can be confident that NFTs issued on Hup Life are permanent because of the decentralized and immutable file system used to host and protect the metadata.
CONCLUSION
I am confident that an application of the Hup Life will take the Non-Fungible Token (NFT) market from where it is to where it ought to be.
Website: https://www.hup.life/
Twitter: https://twitter.com/hupdotlife
Discord: https://discord.gg/JNXcZqHMX2
Gitub: https://github.com/HUP-LIFE/HUP
BountyOx Username- nancyo
“A sponsored article written for a bounty reward.”