What is an NFT?
A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be associated with reproducible digital files such as photos, videos, and audio. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. NFTs use a digital ledger to provide a public certificate of authenticity or proof of ownership, but it does not restrict the sharing or copying of the underlying digital file. NFTs give the ability to assign or claim ownership of any unique piece of digital data, trackable by using Ethereum's blockchain as a public ledger.
NFTs are a great way to invest your CryptoCurrency. Every day there are new technologies available to display your digital artwork: Smart TVs, Wearable NFT Jewelry, Retinal Display Monitors, Electronic Frames, Social Media Channels and more....
As with traditional art collecting, buyers of NFTs should buy what they like... what give them an emotional connection. Collectors should find artists that are real, whose works are impactful and will be remembered in the future. Collectors should look at NFTs as part of their overall collection - something to hold on to, donate, or sell in the future. Buying and selling NFTs as an investment has to be done with the same kind of finesse and market knowledge that would be required for any other art form.
It's important, when purchasing an NFT that you buy from a known business with a proven product. NFTs are becoming more mainstream, and Sotheby's, Christie's and other fine art galleries have opened their doors for digital art and holding NFT exhibitions.
Find Sorrel Sky NFTs and enjoy our curated NFT collections of Western Art.