Much is said about NFT's and not much’s explained about what they are and why they have become so valuable in recent years.
Authenticity and Scarcity: what are NFT's
An NFT (Non Fungible Token) is a piece of code that is kept stored on the blockchain, is related to some digital art, whether music, video, art or image. Owning this code gives ownership of that unique item to the owner. The transaction is made through the negotiation of cryptocurrencies, these ensure the authenticity of the product.
Verifiable and Public: What makes NFT's so valuable
Two factors favored the growth of the NFT market in the last year, in particular: • The pandemic and new consumption habits arising from the past period in lockdown • The cryptocurrency boom A public that was already conditioned to value digital articles saw in NFT's a way to continue displaying status and originality without leaving home. Buying an art that in a few months will be "awarded" for its peculiarity and originality can expand its social circle, even outside the scope between screens. The technology its the same, between crypto and NFT, what differentiates them is the peculiarity. When the creator publishes the code to the blockchain, an immutable, verifiable, public record is created, which ultimately applies an extrinsic value to that piece, increasing the collective perception of the embedded value. The asset transfer facility adds even more value, as it doesn't change or deteriorate, and, if you're lucky, gain even more value.
How to buy NFT's?
To purchase an NFT you need to have cryptoactives compatible with the platform that trades them, know how to configure a wallet so that the transaction takes place securely and know how to store your product on the wallet. After these steps, just enter a marketplace and buy the art you want. Still not knowing where to start? Count on all assistance for your payment transactions: FacilitaPay provides a complete set of API's, which improves and develops your movements, facilitating the learning and implementation of transactions with cryptocurrencies in your routine.