Beyond that, you might want a simple enough explanation of how the whole equation works. Well, NFT Revolution is here for you! We went ahead and highly condensed the most valuable information right here on this page!
With that said, welcome to the revolution and we hope to see you as one of our valued members.
You can think of our platform like the Yellow Pages for NFTs. if you wanted a vegetarian restaurant, you wouldn't go to the Yellow Pages site to eat, but you would go to see an assortment of potential vegetarian restaurants that you could reach out to. So, once you register with us, we use our resources to help you get in contact with a third party that can provide whatever you may need. Note that this does not only speak to actively investing.
Though we're going to cover some information here, you may want to learn a little more about what NFTS are, how to trade them, and possibly even how to create them. Whatever third-party connection we make should be more than able to provide whatever guidance you need. If you've been considering the NFT prospect for some time, then you've likely come across various sites that have promised you an end to your financial struggle with the guaranteed returns that come with buying into the NFT industry. Sorry to pop your bubble, but that is not the case.
There is certainly a risk involved in entering the trade, just as there is with most categories of alternative investment mechanisms. Indeed, you can potentially gain, but the possibility of loss is just as likely. Our advice would be to learn as much as you can since doing so allows you to see the bigger picture and make the most informed of decisions.
Before you freak out, our registration form does not require you to enter a slew of information across a million fields. We know you are not interested in filling out any unnecessarily long forms, and we are just as uninterested in processing unnecessary data.
We designed our signup form based on what our workflow looks like. In doing so, we concluded that the only information needed should serve to identify and protect members while meeting the minimum requirements of relevant third parties. Simply fill out the straightforward personal details required, agree to the terms of service after having read them, and hit the submit button. Once done, you receive an email requesting that you validate your registration.
With validation complete, your next move is to listen out for a very special call. A carefully selected account manager or NFT expert is going to reach out to provide you with the required guidance on how to proceed next.
When transactions are done to move recorded assets from one party to another, the associated information is replicated across all nodes in the blockchain, so there's always an accurate record of who owns what. If you have heard of blockchain technology before, then it was likely based around cryptocurrencies, such as Bitcoin. However, these are not the only tradeable assets that take advantage of the technology.
NFTs are digital assets that also make use of a blockchain. One of the biggest advantages that the blockchain provides is the maintenance of the uniqueness of each NFT piece. Art pieces, for example, may easily be replicated otherwise, and the lack of a proper validation method would make it ever so easy for those with nefarious intentions.
While ownership of an NFT resides with a single party, viewing one lies within the public domain. Interestingly enough, copyright ownership and NFT ownership can be with separate parties.
NFTs tend to be pieces that present some form of artistic value. These can include pictures, music, or videos. Additionally, you may find that some entries are a bit on the stranger side. For example, a tweet could potentially be an NFT. Just for your information, this phenomenon has already occurred and one of the highest valued underlying NFTs of this nature was worth almost $3 million. Visual art seems to be the most popular of the bunch though.
The beautiful thing about NFTs that makes them feel so accessible is the lack of a standard profile that fits the person who uses them. So, you may expect to hear that businesses make up a portion of the NFT user base. If so, you are correct, and nothing is surprising about that.
After all, if there is potential revenue to be made, you can always predict that if businesses aren't involved at the onset, they're going to be at some point. You could say that the organizational sector fits the bill where the NFT risk profile is concerned.
What may surprise you a bit more is that niches, such as heavy social media users and even video gamers have a vested interest in NFTs too. Many parties are discovering NFTs daily, and the expectation here is that the pool of users is going to continue to increase in diversity.
One of the attractive features that would have led to this high level of interest is NFT categorization. As you saw above, an NFT could be many different things. Let's take gamers, for example. What kind of entities would they be interested in?
Well, it turns out that digital video game assets can sometimes have underlying NFTs. Before this whole phenomenon, all digital purchases were governed in the same basic way. Whether you bought a whole game or did micro-transactions to boost your experience, nothing you purchased was technically yours.
It was more of a right to use a digital piece of work. That's why a publisher could delist these games from sale and even remove them from your digital library. Additionally, transference of ownership from one buyer to the next wasn't a facilitated workflow.
Now, the ownership of the digital works can be purchased, allowing for future transference or sales when desired.
Investing in NFTs makes use of an NFT marketplace. Like other dedicated exchanges, it has a specific subset of assets that it deals with. In this case, only digital asset transactions are handled
Investors are offered two basic options. They could purchase an NFT at a listed price or they could participate in an NFT auction. Of course, availability and interest are governed by our host of external factors that may affect supply or demand.
Cryptocurrencies form the basis of NFT purchases. The blockchain being used determines the accepted currency. Even if NFTs are quite unfamiliar to you, they continue to gain steam, meaning you shouldn't be too hard-pressed to find a supporting marketplace.
Once you own the NFT, then you may try to sell it at some point. It can be a bit prohibitive to do so, considering the fees that are associated with NFT sales. The first and most obvious is the listing fee associated with your making others aware that you are willing to sell.
There are also blockchain computing charges and other hidden fees that can fluctuate including conversion fees.
Does this sound a bit prohibitive? If yes, you wouldn't be the first person to have that view. The fee structure and its affordability are a couple of the reasons original creators are often not the ones who profit from the NFT marketplace.