Investing in digital art is one of the hottest and most discussed trends in the field of intellectual property. Not only popular artists or singers began to earn money in the virtual world, but also those who were not known at all yesterday.
Both paintings and photos, collages, GIF-animations, music are successfully sold and set price records.
First of all, thanks to the active use of NFT, these digital certificates confirm the right to own an asset.
NFT (non-fungible token) is a token with which a digital impression is created for a unique object. For example, a song, picture, football card, or other work. The NFT is the digital certificate for this unique item.
How do NFTs appear? There are no miracles here. Let’s say you’ve created some kind of digital art object — a painting, a track, a photo, etc.
Then, you need to register on a special marketplace, upload this object there, give a description, and specify a price.
As soon as you click the “create” button, the program code is executed, and the object receives a unique address in the blockchain. That’s all the magic.
Crypto artist Beeple is known for selling the most expensive piece of crypto art to date for $69 million. Everyone understands that this is a fairly large amount, but what is especially important is that it is only the beginning: even an old auction house like “Christie’s” is entering the NFT boom.
The value of an NFT is partly based on the originality of the product. NFTs cannot be destroyed, deleted, or duplicated.
The token exists exclusively on its platform and is stored on the Ethereum blockchain. Items from one platform cannot be moved to another.
NFTs also represent a new way to attract fans or customers and make money for celebrities, collectors, and brands. Although, there are a lot of questions, for example: what if the author changes one pixel and sells the result as a new work?
Of course, you can’t buy a digitized Van Gogh or Banksy for $5, but you can buy some kind of painting that was released in an edition of 100 copies, and then you can re-sell this token for a higher price.
NFTs are as much speculation as playing with cryptocurrencies. The goal is to buy low and sell high.
The benefits of NFT assets come down to ease of transaction (you can purchase a digital work of art without leaving your home) and price fluctuations.
This is like a big lottery where chances of winning are not so small. If you do not buy mindlessly, but spend time analyzing the market, reading about the author, looking at the number of his subscribers, previous works, and their prices, then you can independently understand whether the work has a chance to grow in price over time or not.
NFT, cryptocurrency, and in particular its mining, altogether are huge steps towards a big utopia – decentralization. People will move from a commitment to one currency to a plurality
of values in the financial sector. This could create big problems for regulators around the world. Well, this isn’t the first time humanity has been confronted with the technology they don’t know what to do with.
Many novice investors, who are disillusioned with classical mining, bring capital to auctions in the hope of finding the “promising diamond” that will double or triple in price.
Of course, we should not dismiss the possibility that the growing hype of NFTs may fade as rapidly as it arose, and the NFT market may disappoint users: each unique work can be faked and sold on another marketplace, and this will collapse the price of the token.
Can something replace the NFT boom? There is no clear answer at the moment. However, a serious and stable tool for making money on cryptocurrencies has appeared in recent years.
A tool that gives hope to both investors and classic miners is called Cloud mining. A service that allows you to rent the power of large mining farms and mine cryptocurrency from literally anywhere in the world using any convenient device.
Leave all the hassle to specialists: maintenance of equipment, risks of heat and noise insulation, “wear and tear” of equipment.
All the user needs to do is buy a contract on the company’s website and start earning cryptocurrency in their account.
GreenHashes, a green mining platform, has brought together the best professionals in the industry to make the company a market leader: they use renewable energy from the sun, wind, and hydrogen for their mining farms.
They present a mining service that provides a high degree of confidentiality. In this regard, they keep the collection of user data to a minimum and are responsible for the security of this server.
All payments are done in Bitcoin to secure the system and allow everyone to use the platform from every corner of our Planet.
The user shares part of his profit with the company, which is included in the contract price. Users need only to choose the appropriate option for them because this type of mining is for everyone, whether you are a beginner or a professional, it is not important in cloud mining.
Source: https://coinpedia.org/press-release/nft-cryptocurrency-mining-and-what-will-be-the-next/