Dmytro Buryak: what are the advantages of NFT compared to traditional methods of sales and instant income generation?

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NFT (non-fungible tokens) is a new digital asset format based on blockchain technology. Compared to traditional methods of selling and instant income generation, NFT has several advantages:

Uniqueness: NFT allows you to create and sell unique digital objects such as music, pictures, videos and others. These objects can have significant historical or cultural value and can be sold at auctions for significant money.

Innovativeness: NFT enables the creation of new formats of digital objects and expands the possibilities of art and culture. For example, NFT can store videos, virtual objects, and other formats of digital creations, allowing for more complex and innovative projects.

Copyright: NFT provides accurate information about the owner and transaction history of a digital object, which allows to protect the copyright of artists and cultural institutions and prevent illegal copying and distribution of their creations.

Absence of intermediaries: NFT enables the sale and purchase of digital creations without intermediaries, providing higher income for artists and cultural institutions and lower costs for buyers.

Transparency and security: NFT enables transparency and availability of information about transactions and customer funds. Each user can track their transactions and ensure the safety of their funds, because NFT works on the basis of blockchain technology, which provides protection against fraud and criminal activities.

Potential cost growth: The uniqueness and rarity of NFTs can cause their value to increase in the future, allowing investors to profit from buying and selling NFTs.

Independence from the market: NFT is a market-independent digital creation format that allows artists and cultural institutions to sell their creations regardless of market conditions and trends.

Conclusion

NFT is a new format of digital creations that allows you to create and sell unique digital objects, ensuring transparency, security and copyright. Compared to traditional methods of selling and instant income generation, NFT has several advantages, such as uniqueness, innovation, copyright, lack of intermediaries, transparency and security, potential value growth and independence from the market. NFT could be a game-changer for art and culture, allowing them to create and sell unique digital creations directly.

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