What is NFT art?

NFTs are digital assets, they only exist in a digital form and you can’t touch them. NFT could be any type of digital file: a digital artwork, an article, music, video, domain name or a meme (like the “Disaster Girl” photo, which was sold for $500k ). What refers to NFT art, it’s simply digital artwork that was “tokenized” as NFT. How do NFTs Work?

How much is an NFT worth?

The artist Grimes recently sold a bunch of NFTs for nearly $6 million. An NFT of LeBron James making a historic dunk for the Lakers garnered more than $200,000. The band Kings of Leon is releasing its new album in the form of an NFT. At the auction house Christie's, bids on an NFT by the artist Beeple are already reaching into the millions.

How do NFTS work?

NFTs solve this problem by giving parties something they can agree represents ownership. In doing so, they make it possible to build markets around new types of transactions — buying and selling products that could never be sold before, or enabling transactions to happen in innovative ways that are more efficient and valuable.

What is NFT authenticity & how does it work?

Authenticity is the name of the game with NFTs. Digital collectibles contain distinguishing information that make them distinct from any other NFT and easily verifiable, thanks to the blockchain. Creating and circulating fake collectibles doesn’t work because each item can be traced back to the original creator or issuer.