NFTs and Marketplaces

Last Updated on December 16, 2021

One of the first adopted applications for NFT technology has been with artwork. The creators can tokenize art to create a digital certificate of ownership that can be bought and sold. The certificate can entice buyers with incentives such as smart contracts that may give the artist, for example, a part of future exchanges of the token.

More broadly, the digital tokens can be thought of as certificates of ownership for virtual or physical assets.

Popular marketplaces include OpenSea and SolSea where you can buy or sell any Digital Assets or NFT tokens. Marketplaces can also be used to store or create NFT tokens or any other digital assets.

Skeptics believe NFTs are a bubble waiting to burst that will eventually lose all or most of its value.