The Role of NFTs in Digital Asset Ownership and Financial Growth

Talking about how far Nft has come over the years have taken the digital world, the technology and also the financial world by storm. This started from the digital artwork to the normal virtual realil estate recently. I must confess that nowadays, Nfts are really helping us to understand and engaged with the ownership in details about the digital world. Something we were not used to actually. Even though it might look like Nft is trending now, I will say it has not actually reached its full potential as this is just the beginning.

Nfts in detail are what I called digital assets that help to stand for the ownership of a particular unique item or an art work done on the Blockchain. It is special to other crypto like bitcoin, like Ethereum which I see to be fungible and what I mean by been fungible is they can easily be exchanged to other crypto. When it comes to Nft, it is non fungible. Every Nfts is quite unique and cannot be exchanged to other crypto unless it is sold.

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One of the beauty that I have seen that Nft caused us it helps artist, helps art creators to be able to tokenise either their art work or generally their work. These work I make mention of can be either art, can be music or even videos. Nft works in a way that if you have sold the digital assets, the ownership has been transferred to the buyer and no more with the person again and this transaction is recorded on the Blockchain creating this sense of transparency.

As it is looking like day of our life is shifting to the digital world, I can see that nft will certainly be the future and will take a massive digital turn. The rapid rise in the digital content as it is evident with the look of things right now, it makes you to be able to own the asset you are owning. With the issue of ownership, Nfts have been able to solve the issue. Ownership is recorded on the Blockchain and this makes it to be recorded and helps to avoid issues or dispute when it comes to the ownership stuff.

I will say the Nfts is shaping the financial growth also and this is quite evident. How Nft is contributing to the financial growth is the fact that it is creating scarcity and helping to drive value. How is this possible? Take for instance if I create an art work, you are sure there are limited copies of what I create and that is where scarcity comes in and when there is high demand but less supply, you will be able to capitalise on it and increase the value of my art work at the end of the day.

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I didn't mention the aspect that Nft helps also to make income. Yes I have seen a lot of art creators who they display their art work or by converting it to digital asset has been sold and given them a massive income as regards their work. In fact some of them have been able to enjoy the royalties benefit from it if their art work is used either for music, for videos, or for branding. If their art work is resold, they have the access to earn a good percentage of the sale and this for some people has created a constant flow of income for them.

Talking about the future of Nfts as I conclude, I will say Nft is a big thing to definitely look out for years to come. The world is moving to the direction of digital world and I am so sure in years to come, Nft will be the order of the day.
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