Question 1

What are NFTs

Accepted Answer

NFTs come from the world of cryptocurrencies. A "non-fungible token" (NFT) is a digital entity that represents a specific real or virtual object in a blockchain, making it unique. Unique and forgery-proof collector's items - a digital certificate of authenticity, so to speak. This gives the works a value that arbitrarily duplicated content cannot have.

Question 2

What is a blockchain?

Accepted Answer

A blockchain is a distributed, public database. In the context of Bitcoin, this database is used to manage monetary transactions. The term "chain" comes from the chain to which the transactions are added in chronological order.

Question 3

Why buy art as NFT?

Accepted Answer

But why buy NFT and what is so special about these artworks? Quite simply: It is digital art that is based on non-fungible tokens and cannot currently be surpassed in terms of uniqueness and exclusivity.

Question 4

What are NFTs for?

Accepted Answer

The value of physical valuables, such as paintings, is usually also due to the fact that they are unique. Digital values, on the other hand, can be copied easily and in any quantity. NFTs solve the problem. They guarantee uniqueness and reflect the ownership structure, which then becomes tradable and can be monetized. This is how virtual goods become counterfeit-proof collector's items.

My art is now also available as NFT