Hello and welcome to the world of NFT. This world, which appears to be meaningless at first glance, is actually a very different place. Pixel-created photos, which you will delete without thinking when sent to you, sold for hundreds of thousands of dollars. The majority, if not all, are like this. So how come these digital artifacts, which anyone with basic computer skills can create in 2-3 hours, are worth so much money? In this article, we will attempt to comprehend the world of NFT, which appears to be meaningless at first glance.
Why so expensive ?
Let’s go over the general characteristics of NFT markets and see if they’re the answer we’re looking for. When we say NFT, the first thing that comes to mind is that the products are one-of-a-kind and cannot be replicated. Do you think this is why the meaningless photo, pixel by pixel, sells for hundreds of thousands of dollars? As you might expect, the answer is no. That just makes it more marketable. It has no bearing on its exorbitant price.
Another advantage of working with us is the ability to sell all over the world. Having a sizable market. This is not the feature we are looking for if digital artifacts are not valued as much as the amount of travel they have taken. A unique feature is that the manufacturer receives a percentage of all sales. This feature is well thought out, but it does not cover the very high cost of our picture, which is not clear what it is.
To sum up…
NFT has many features, but instead of listing them all, let me explain the answer. Money is the reason for the high price. More cash. Consider this: let’s say you’re in the business of buying and selling cars. You’ll probably earn less money from low-priced cars and more money from high-priced cars. Similarly, the motivation for paying exorbitant prices for high-priced digital products is the desire to make more money through trading.
The most important aspect here is determining the initial value of the products. This value is generally determined by the rarity level of the collection. As an example, You start a collection called cars, and when you make 50 blue cars, 10 red cars, and 1 black car, you sell your black car for a higher price than the other cars.
You can draw your own conclusions from this article, in which we evaluate prices in the NFT world in general. If you want to enter the NFT market, you should start with collections that make sense of the whole. You can learn more info about NFT with this article. I hope you found it useful. You can learn more about NFT markets with this article too.
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