What are NFTs. How do you make money out of them

What are NFTs. How do you make money out of them

• By Staff Writer

What are NFTs

NFTs, or Non-Fungible Tokens, are digital assets with unique identifying codes which can be bought or sold like any other form of item. They are digital tokens that can be claimed or bought as certificates for physical or virtual assets.

How secure are NFTs

NFTs are securitized digital works i.e. iconic videos, paintings, and memes among others. This tokenized artwork comes with a unique digital certificate of ownership which can be sold or bought online. Like cryptocurrency, they run on blockchain technology.

How forging is impossible

Blockchain technology makes the forging of records impossible because, just like in cryptos, these records are being maintained by thousands of computers across the world. Anyone can view them, but an NFT gives the prerogative to the buyer to own the original item with a built-in proof of ownership.

Buy, Sell, Invest

You can make money out of NFTs by buying wisely and selling further: For example, when superstar Amitabh Bachchan's NFT collection goes up for bidding in November, interested buyers can take part. They can fetch a higher price later. You can invest in NFTs by buying and selling them at the right time.

Create your own NFTs

If you are a musician or a budding painter, you can also create your own digital art, video or audio clips, and music as NFTs and sell them.