But to trade them, there needs to be a marketplace. Once you understand that NFTs are non-replicable digital assets, you should also understand that each NFT is its own market. Either way, there are lots more use cases for NFTs than just digital art.īut before we start digging into the OpenSea marketplace, if you're still unsure about NFTs, you can read our article, " Non-Fungible Tokens - Could NFTs Supercharge The DeFi Sector?" Or better yet, enroll at Ivan on Tech Academy and take the Crypto for Beginners Course and get a firm grasp on all things crypto.
On the other hand, estimates NFT's crypto art sector to only account for 25% of the NFT market, making it $62.5 million. According to CryptoArt.io, NFT-based crypto art alone has a total value surpassing $100 million. It’s an understatement that NFTs can potentially have a huge significance for digital art. These kinds of ringing endorsements only added fuel to the fire that was already burning bright before these influencers came along.
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