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What Is An NFT & Why You Must Have Them

What Is An NFT?

An NFT, otherwise known as a ‘non-fungible token,’ is a digital asset that can be traded using cryptocurrency. Whether that be a picture you have taken or a song you have made, there are people willing to buy art, memes, and even tweets.

In case you didn’t know, Justin Bieber paid $1.3 million for his rather bored/sad picture of an ape. So why did he do that?

Unbeknownst to those who are new to the NFT world, the NFT is equivalent to a digital certificate. And the bearer of that token has certain rights or benefits that no one else has.

Much like going into a sports venue, you cannot get in unless you have a ticket. So going back to Justin, the owner of that bored ape has a whole list of benefits, including an exclusive Discord server where all A-list celebrities hang out.

And as there are only 10,000 of them, getting your hands on one is a difficult thing, thus allowing the owner to benefit from lucrative future gains.

Making An NFT

All you need is some content. That could be a picture, video, or even a tweet. Then after that, you need a community of people interested in what you have to offer. Once you have one, the next thing to do is upload and sell it.

Selling NFTS

There are a variety of exchanges that allow content creators to upload their material. The main ones include OpenSea, Rarible, and Makersplace. Depending on the type of cryptocurrency you use to upload them, there may be a small fee you have to pay.

Benefits Of NFTS

The benefits are numerous, as they allow content creators to connect with their fans. So with the case of Celebrity Myxer, how would you feel if an NFT gave you access to a zoom call with your favorite celebrity, a meet and greet with a TV star, or even some Celebrity Myxer merch.

Well, that is possible. Just like Justin’s bored ape, it is a token, and the creator of the token decides what the benefits are. Aside from the purchaser’s benefits, the creator can also benefit.

Just like musicians are paid royalties for their music, NFTs can generate income in perpetuity. So with the case of Justin’s bored ape, every time that piece is sold, the creator can earn up to 10 percent each time.

So if Justin sells it, and at the very least regains his $1.3 million, the original creator has bagged themselves potentially $130,000. And the great thing is so can you by creating or buying your own.

Let us know your thoughts about NFTS in the comment section below, and as always, tell us how you would feel to be a part of a potential Celebrity Myxer NFT world.

And to give you a flavor, here are some exclusive NFTS that you can purchase on the link here in full, with a preview of them below.

What is an NFT? An NFT is a non-fungible token, a digital asset that can be traded using cryptocurrency. It can be art, memes, songs, tweets & more. NFTs often have added benefits.

What is an NFT? An NFT is a non-fungible token, a digital asset that can be traded using cryptocurrency. It can be art, memes, songs, tweets & more. NFTs often have added benefits.

And as an added benefit, there is a special gift for each buyer. You can follow me on TikTok and be a part of this world for more information.

Writer
About the Author
Hasib Afzal is a writer on a mission to give you a low-down on the best TV shows, movies and celebrity news. Dream it, believe it, do it. Follow me on TikTok below www.tiktok.com/@funnyart4everyone

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