NFTs can represent real-world items like artwork and real estate. “Tokenizing” these real-world tangible assets makes buying, selling, and trading them more efficient while reducing the probability of fraud. NFTs can also function to represent individuals’ identities, property rights, and more.
Digital art ownership has proven to be a revolution since the advent of the internet. NFTs can solve just that, allowing a secure way to create, store, buy, sell, collect and trade digital assets, prove intellectual ownership, protect copyrights and allow direct access to royalties.
What Is Actually an NFT?
NFT, or non-fungible token is a tokenized digital asset that belongs only to you. An NFT was created to make it easier for digital artists to assert the originality of their work. NFT marketplace is a place to trade, buy, and sell NFTs.
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Ownership of an NFT does not inherently grant copyright or intellectual property rights to the digital asset a token represents.] While someone may sell an NFT representing their work, the buyer will not necessarily receive copyright privileges when ownership of the NFT is changed and so the original owner is allowed to create more NFTs of the same work. In that sense, an NFT is merely a proof of ownership that is separate from a copyright. According to legal scholar Rebecca Tushnet, “In one sense, the purchaser acquires whatever the art world thinks they have acquired. They definitely do not own the copyright to the underlying work unless it is explicitly transferred.”
Top 10 NFT Marketplaces to buy and sell Non-Fungible Token
- 1. OpenSea
- 2. Rarible
- 3. Larva Lab
- 4. Axie Infinity
- 5. Nifty Gateway
- 6. KnownOrigin
- 7. SuperRare