Cryptocurrencies took the world by storm a few years back, reaching a zenith around 2017 that caused the technology to go mainstream. Aside from big names like Bitcoin, the cryptocurrency movement also spawned a new way for artists to sell pieces and investors to make money through non-fungible tokens (NFTs).

An NFT is a token that an artist can create. Tokens are digital records that get recorded on a blockchain. They essentially serve as a virtual certificate of ownership. This means that you can buy NFTs, track them through a platform for non fungible tokens management and sell your NFTs to others.

Of course, many collectors of NFTs are just that – collectors. As such, they curate collections of NFTs to admire and show off to friends and family. This can be done through the web on social media, but you can also display NFTs as digital artwork on websites.

How Are NFTs Protected?

One common misconception about NFTs is that they are unable to be copied. While it’s true that you are buying an exclusive file entry when you purchase an NFT, the potential does exist for someone to simply make a copy of an image and redistribute it. What’s important to remember is that you aren’t buying the image – you are buying the NFT file on the blockchain.

In other words, even if someone reproduces your NFT image, they don’t have ownership rights to the file on the blockchain. That remains your sole property, and you can use a platform for non fungible tokens management to keep up with transactions that prove ownership.

Do NFTs Go Up in Value?

Like any other type of art, NFTs can go up and down in value. Once again, collectors typically concern themselves with purchases of NFTs solely for the artistic value these files provide. Investors, on the other hand, will want to track the value of NFTs to buy low and sell high. The value of a specific NFT or series of NFTs is determined by the market, but it is possible to make money with NFTs if you’re a savvy investor.

Author Resource:-

Emily Clarke writes about portfolio management, finance tracking and Consumer SaaS services. You can find her thoughts at portfolio management blog.