An NFT is a digital asset that represents both real-world and digital objects. This may include art, music, game objects, real-estate, videos and more. NFTs are bought and sold on the internet, usually with crypto currency (Bitcoin, Ethereum, Theta Token, Mex, etc.). NFT art is minted on the crypto blockchain and all purchases are recorded on the blockchain.

NFT Benefits

• Ownership – The blockchain technology used to mint luxury NFTs proves that you are the rightful owner. There is no need for authentication services or paperwork, as it is quite simple to verify ownership on the blockchain.
• Transferability – NFTs may be easily sold and traded between collectors.
• Authentication – The biggest benefit to purchasing luxury NFTs is fraud prevention. As a luxury art owner or creator, you’re certainly aware that this is a problem across multiple industries (fashion, art, collectibles, concert tickets, etc.). NFTs (minted on the blockchain) are, without a doubt, the best solution for counterfeiting. NFTs give buyers confidence that they always get exactly what they are paying for and that it’s authentic.

Please watch these videos if you’d like to understand more about NFTs: