NFT'S Are They Useless?

NFT’S Are They Useless?

Let Delve a little in to the world of NFT’s

NFTs are digital assets that are unique and can not be replicated. They are stored on a blockchain, which is a distributed ledger that allows for secure and transparent transactions. NFTs can be used to represent anything from digital art to in-game items, and they have the potential to revolutionize the way we interact with the digital world. NFTs have a number of advantages over traditional assets. For one, they can be easily traded and sold without the need for a middleman. This allows for more direct and efficient transactions. Additionally, NFTs can be stored securely on a blockchain, which makes them less susceptible to fraud or theft. The use of NFTs is still in its early stages, but there is a lot of potential for them to disrupt many industries. For example, NFTs could be used to represent ownership of digital assets such as art, music, or even real estate. Additionally, NFTs could be used to represent in-game items or rewards, which could lead to a new way of monetizing games.

Real World Use Case?

In order for NFTs to be used in the real world, they need to be able to solve real-world problems. At this point, NFTs are not useful for most types of business. One use that has been proposed for NFTs is as an alternative to fiat currency in the case of a money shortage or hyperinflation, in which case they could theoretically have value as an item that is useful for bartering example you are an artist you can sell your nfts via opensea or solana.

Use Case In Gaming

They can be used for many things such as breeding, food and combat. You can send your nfts earned in game to a market place where you can sell them for in-game currency that can be spent on other things such as upgrades for your nfts or buildings. this is the most common way people get rich off of their nft’s today.

Why Use NFTS?

You can be a buyer, an artist or a collector. As a Collector you can buy it and hope that the value of it goes up one day, so you can sell it for a profit and as an artist it gives you a way to sell work.

Marketplace

There are several marketplaces to trade NFTs, which allow people to buy and sell. Which include OpenSea, Rarible, Nifty Gateway, but there are others.

Hope you liked the lilttle beginner guide in to the world of NFTS and its use case tell us what you think of NFTS in a market where they are loosing their value.

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