Скачать или смотреть What is NFT? (Non Fungible Token)

In this video, we discuss all about NFT, How it Works, factors affecting its cost, advantages, and disadvantages.

What is NFT?
NFT is also known as a non-fungible token; it is a form of digital data such as photos, videos, and audio presentations on a blockchain. The NFT can be sold and bought using cryptocurrency.

What are the factors affecting the cost of NFT?
Value is wholly based on the market and the demand.
More significant the need, the greater the price.
More special the NFT, the higher the price.
The popularity of the author

Advantages of NFT
Beneficial for artists to monetize their art.
Easy to create and sell.
It provides exclusive ownership for the art.
The buyer can re-sell it.

Drawbacks of NFT
NFT are mainly unregulated.
There is no guarantee for the value.
High chances for frauds and scams.
The profit of NFT is wholly based on the hype.

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