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Features of an NFT

• It is a digital file.
• Each NFT is a unique item in the world.
• It is a non-expendable asset. This means that it is a non-substitutable good for another.
• The owner has exclusive ownership rights to the NFT.
• Copyright and reproduction rights can be held by the creator of the file, even if it is sold.
• It can be sold, usually for cryptocurrency.
• The value they have is established only by the market, through the perception of people. Thus, something that is valued at $1 today may be worth $1,000 tomorrow, simply because buyers value it.
• It is usually associated with digital art pieces.

The Main Uses of NFTs

• Video games: Many of the NFTs that are marketed are appearance designs of certain video game characters, also known as “skins”. Players like their character to sport a unique look that sets them apart from the rest.
• Digital works of art: The collection of exclusive digital files valued by the market and made by someone renowned is an increasingly common practice.
• Investments: It can become a digital asset, so NFTs are used as an investment. If the investor considers that this file may appreciate over time, he will buy now to sell it in the future for a higher price and obtain a return on the asset.
• Real estate sector: The NFT allows to know the history of a property, to know who has been its owner, the price at which it has been previously sold, debts, seizure orders, etc.

The Benefits of NFTs

Why Businesses Should Consider NFTs