Everyone is aware of NFTs now. Be it because of their favorite celebrities who launched their NFT collection, the news, or the social media, everyone is aware of NFTs. There are even NFTs coming based on movies now that fans are excited to buy them as an asset or memorabilia. NFTs are not just for celebrities, they are actively used by independent artists, influencers, designers, and even architects to monetize their works. This short brief is for you if you fall under these categories, waiting to enter this evolving world.
Touching NFT development
Many independent creators are now taking up NFTs for monetizing their creations. Is it only for that? What are NFTs for? What is the use of selling your creation as an NFT over the existing one? Let’s compare and see why NFTs are better.
When you sell your content, art, or design in a normal way you sell, you sell it for a fixed price which is fixed on a generalized market basis or the buyer itself. When the seller buys your work, he becomes the owner and you have no claim over the work once you sell them. In a time when the value of your work increases in time and the buyer resells it, you don't have any claim over it, since you sold out to the buyer already.
Non-Fungible Tokens are tokens that hold the attributes of your assets on the blockchain depicting its ownership. When you mint your work as an NFT on the blockchain, you will be recorded and the creator and owner of the NFT. when you sell it by fixing a price over it, you get to sell them on your price and only the ownership rights change to the buyer. And when he resells it, in a marketplace, you get a royalty as a creator.
Takeaway
Since last year the sales of NFTs are not slowing down as more people are interested in NFTs. Start your
Non-Fungible Token developmentby hiring a professional NFT development company and get the credit you deserve for your work.