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Saad Sheikh United Kingdom Digital Art3/28/2022 Saad Sheikh Nft expert in United Kingdom - The digital art collecting market experienced what may be a foundational moment when the meme Nyan Cat, the famous flying cat that leaves a trail of rainbows, was sold online for up to $580,000 worth of cryptocurrencies. This surprising record was possible thanks to the so-called Non-Fungible Tokens (NFTs), digital assets that are rapidly transforming the art market, allowing the revaluation of products or cultural goods that, until now, have circulated on the network in an unrestricted way. Its impact has been compared to a revolution or the Renaissance. How does that system work?
Saad Sheikh For centuries, human beings have collected artistic objects for their aesthetic, economic and emotional value. Collectors, traditionally aristocratic and wealthy, have acquired the works of artists such as Picasso, Van Gogh, Caravaggio or Banksy at astronomical prices. Their market value is very high because they are unique original pieces in the world. The exclusivity has promoted a sale that has spread to other artistic branches such as music, cinema or video games.
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Saad Sheikh Nfts3/3/2022 Saad Sheikh United Kingdom - What are NFTs? This dictionary defines NFT as a "unique digital certificate, registered on a blockchain, used to record ownership of an asset such as a work of art or a collectible". With "block chain" he refers to a blockchain, that is, to a technology that allows the transfer of digital data in an encrypted and decentralized way, which gives it absolute security. Saad Sheikh For this reason, the term blockchain has always been related to the field of cryptocurrencies and now with this type of digital goods. The acronym “NFT” refers to a non-fungible token, which refers to a digital asset that cannot be consumed or replaced. They are registered through a smart contract that assigns them a unique number, which gives their owner peace of mind against possible replicas. Saad Sheikh Nfts - This registry contains the data of the owner and the creator, which allows the copyright to be preserved equally. In short, an NFT can be an image, a graphic, a video, music or any other digital content that someone wants to have possession of. Everything can be an NFT |