How do NFTs Work? πŸ‘‡

Simply, NFTs give us the opportunity to collect a potential investment in digital form, providing security, potential value increase and a limited edition piece of the pie that nobody else has.

Not only that, NFTs also provide us with the opportunity to join expanding communities of individuals, where we can chat through social platforms or even browse their collections through the virtual world.

NFTs however work by living within a decentralised platform, created by creators and consumed by all.

The reason the whole NFT ecosystem works is due to the fact that Ethereum (one of the digital currencies in which you buy) is decentralised and secure. Decentralised meaning you and everyone else can verify you own something – which in this case would be the digital asset.

Once you’re set up on the platform of choice, you can purchase, trade, browse and bid, storing your commodities either in a cold or hot wallet.

If you have any other questions on NFTs, let us know and we’ll make sure to create content on it!

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