What Is NFT And How To Business NFT

The first NFT ever printed and published (news.artnet.com)

YOGYAKARTA - NFT stands for Non-Fungible Token. Understanding from NFT is one of the cryptographic assets on the blockchain with a unique identification code along with metadata that distinguishes it from one another. So NFT nothing is the same.

Of course, NFT is different from cryptocurrencies where NFT cannot be traded or exchanged. But how does this become one of the valuables? NFT can represent real-world goods such as artwork and real estate. This is related to the authenticness in crypto where metadata has differences.

Based on the NFT blockchain, it can actually cut intermediaries. Connect directly between creators and buyers. Of course this is very interesting so that if you have NFT works, only you in the world have the NFT treasure.

It's just that we need to be observant to see this as an investment land. Because several times it looks like NFT is decreasing depending on the price of [on tokens. NFT's work is a genius in today's era, it will be much more helpful than a work.

How NFT Works

NFT has a very unique way of working which is in its digital data storage system. This allows users to secretly transfer data to each other. Through an encryption scheme in NFT data cryptography, no one can own it, because there is one.

How to Business NFT

There are 4 that are recorded as a strong reason people to buy NFTs ranging from profit to flexibility. We recorded it as follows

Of the four, in fact, number one is the most available data. They buy it until the price of NFT goes up and sells it in the market. But this will have a bad effect if you choose the wrong work of art at a price that ends up being destroyed.

Number four is the most realistic thing for small businesses. Even in Indonesia, there are many NFT hunters in the telegram group.

The Mosthaled NFT in the World

NFT is one of the most expensive digital assets in the cryptography, in fact there are some of the most expensive in the world that we have recorded. There are at least 22 most expensive NFTs in the world

The price reaches billions, this would certainly be very unrealistic. It's just that if people already have a lot of money it might be an interesting land.

CryptoPunk is a collection of 10,000 digital characters developed by Matt Hall and John wakinson of Studio Larva Labs.

Quantum was the first NFT ever printed and published on the blockchain. Launched at the Rhizome's Seven on Seven Conference in 2014, Quantum managed to sell for $1.58 million.

Death Drip is the 14th NFT to be printed by London-based crypto art pioneer XCOPY. Dicategoratized as Super Rare, this work is one of the most expensive NFTs in the world that is valued at $1.58 million.

The Best I Could Do, Karya features a character scribble developed by the co-creator of the modern cartoon series Rick and Morty, Justin Roiland. This work managed to sell for $1.65 million.

The NFT Fidenza by Tyler used to sell for 1,000 ETH or the equivalent of $3.3 million. The Fidenza NFT itself is a collection of Art Blocks that has managed to collect volume trading of $294 million in August 2022.

Doge, an image of Shiba Inu that has become one of the most iconic memes on the internet, has also been successfully auctioned in NFT form with a value of $4 million in early June.

The Replicator is a digital artwork designed by Micah Mad Dog Jones Bowbak sold at auction in April 2021 for $4.1 million.

What has been recorded is certainly a masterpiece, and many more are not yet known regarding the price of this nft.