Tokens or non-fungible nft are no doubt one of the hottest Crypto assets on the market.
With celebrities including Amitabh Bachhan, Vishal Malhotra, Sunny Leone and others launched their own NFT, this digital asset slowly made their land on the Indian market.
While Crypto Craze has taken over Millennial and Genz’s mind in the country, the NFT market is relatively small.
Somewhere on the news, you must have seen this token that sells for a silly amount of money.
So should you buy NFT Dhanteras not gold? This explanation below can help you.
What simple nftin words, NFT is the only digital collection.
This means unique and cannot be replaced.
This virtual token can be a song, film, artwork, photos, social media posts, gif and anything that can be stored digitally.
Now you might think about this unique token? Well, that’s where the part is not worth coming.
Yes, anyone can copy what is on NFT but imitation tokens will lose unique properties.
For example, there are millions of copies of artwork Mona Lisa Leonardo da Vinci which looks exactly the same but the precious original painting is still at the Louvre Museum in Paris.
How NFT Brands NFT is data stored in digital ledgers, called Blockchain.
Most NFT is part of the Ethereum Blockchain.
Ethereum is cryptocurrency such as Bitcoin and Blockchain supporting and storing data units from this digital asset.
While other Cryptocurrency has their own NFTS version, Ethereum is currently a market leader.
Blockchain states tokens as a unique asset and reproduction of the token is considered imitation.
Last week, the work of NFT art called Cryptopunk was sold for around $ 532 million.
The buyer pays 1.24,457 Ethereum for it.
If you buy NFT, Dhanteras, the answer is not that simple.
You can buy a lot of NFT for as low as less than Rs 10 or can even buy one of the tokens for Lakh Rupees.
NFT is usually treated as artwork so that it determines the exact assessment of them is quite difficult.
You can buy NFT if it suits your taste or you feel interesting.
For investment, you must track how certain tokens do in terms of value and how much they will be valuable in the future.
How to buy NFT in India at this time, there is no separate legal framework for NFTS in India and you can easily buy one of the platforms such as Buyucoin, Binance, Wazirx and many others.
You can pay through a wallet platform or you can pay via Cryptocurrency.