NFTs are all the rage these days, and some digital artworks are fetching astronomical prices. Many people have questioned whether or not they live up to the hype. This blog aims to present a list of explanations for the hype around NFTs in the market.
Because of its potential impact on the digital world, you’ve probably heard of NFTs before. Non-fungible tokens may be used to create a sense of scarcity around digital assets. It’s possible to buy and sell them, swap them, etc. Aside from the fact that it is intangible, this concept may be tough to comprehend.
NFT has gained a lot of media attention despite being identical. Why? The Crypto world likes speculating, and NFTs are no exception. NFT doesn’t prevent art theft. An NFT indicates that the “original” work has been acquired, but others may still duplicate and distribute it. Buying an NFT is like purchasing a signed print by the artist.
Let’s discuss some of the factors contributing to the recent hype around…
