What is an NFT Artwork?
Non-fungible tokens have taken the crypto space by storm in recent times, as much as they are unique and distinct, their value and usage go beyond mere digital arts. They have also found use cases in real estate, digital arts, and several other spaces.
TL;DR
- NFTs are unique digital collectibles representing assets whose values cannot be replaced
- NFTs have use cases in the real estate and digital arts collectible sphere
- The IvoryPay NFT Storefront is the perfect place for creators to build, own, and display their unique digital collections
Unique Digital Collectibles
Non-fungible tokens are not mere digital assets like bitcoin and Ethereum which can be traded one coin for another. NFTs are unique digital assets that are distinct and irreplaceable. The uniqueness of an NFT comes from what it represents as contained in its metadata.
This uniqueness depicts its representation of a real-world value such as music, artwork, real estate, or even tweet. This clear distinction makes an NFT one of a kind with no two non-fungible tokens of equal proportion ever existing on the blockchain.
Dynamic Use Cases
Since NFTs represent unique and rare assets, this class of digital tokens has also found usage in other spaces where unique assets are traded. Notably, NFTs are seeing increasing adoption in the real estate and arts industry.
In real estate, NFTs have opened up an avenue for realtors to create a token system of fractional ownership where investors can pool funds to purchase properties. This means that it is no longer necessary for an individual to single-handedly purchase a property just to resell it at a later date. With tokenization, an otherwise illiquid asset is now made liquid, with each token representing a unique NFT that signifies fractional ownership of such asset.
Art collectors have also found instances for NFTs. Today, it is now possible for collectors to purchase a physical asset that has an NFT as a digital representation of value. This also implies that such artwork, even if plagiarized, cannot hold the same value as the original artwork. Effectively, this confers authenticity on the original property, while maintaining its intrinsic value.
IvoryPay Storefront for Creators
The IvoryPay ecosystem provides digital art creators with the opportunity to display their artworks and creatives in a uniquely designed space known as a storefront. Each creator will own their storefront and can customize it to depict their uniqueness and brand.
IvoryPay also provides NFT creators with all the tools needed to display art, create auctions, and accept digital payments in the payment method that is most convenient for the creator. Creators will also benefit from IvoryPay’s unique payment gateway solutions such as payment buttons, links, and QR codes which further help them to simplify payment for collectors.
Conclusion
The numerous instances in which NFTs can be deployed are a testament to the promises and benefits that it holds for digital art creators. IvoryPay’s NFT Storefront is the most innovative and convenient infrastructure specifically designed to help creators maximize the rewards of this booming digital economy.
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