We’ve written a few articles to help you understand what NFTs are, how to make them, and how marketplaces work, but we know there’s still more we can show you.
We’ve compiled a list of some of the most common questions people ask about NFTs. Also, we hope you can use this info to help you on your NFT journey. Let us know if we missed anything!
Can I turn a photo into an NFT?
Yes! Any media can be turned into NFT, and photos you have taken are no exception. Of course, you can’t create NFTs of photos you don’t have the right to, but if it’s your picture, you can quickly transform it into an NFT.
What are NFTs used for?
NFTs indicate ownership of assets representing real-world items like artwork, music, or real estate.
Many think the item is the NFT, but that’s not true. The NFT is a digital asset that links ownership to the item, an important distinction.
Is copying NFT possible?
No, and this is why it’s important to distinguish between the NFT and the item it represents. While the NFT cannot be replicated due to security factors linked to the blockchain, the media it means can be copied easily.
It’s no different from traditional art. For instance, the Mona Lisa is one of the most famous pieces in the world, and while there are many copies and iterations of it globally, there is still only one original Mona Lisa.
You can copy the media, but it will never be the original!
How do you know your NFT is authentic?
Firstly, NFT ownership is recorded on the blockchain, and that entry acts as digital proof of ownership. The security of the blockchain means that the records can’t be altered or defrauded in some way.
What makes an NFT valuable?
The value of an NFT comes from the physical item it represents, which generally exists in the digital or real world.
The NFT points to the location of that item on the blockchain, and like a ticket or a property deed, the NFT reflects the value of what it represents.
There are also our considerations that define how valuable a digital NFT is:
Rarity – The rarer an NFT, the more expensive it may be. Check out the top ten most costly NFTs HERE.
Utility – Represents what the NFT is tokenizing. For example, NFT land plots on Decentraland.
Interoperability: This usually applies to in-game items. If a weapon from one game can be used in another, it is more valuable.
Liquidity: Buyers prefer NFT categories that have high trading volume as it helps them profit from a trade more efficiently.
Where do you buy NFTs?
NFTs can only be bought with cryptocurrency, and you have to buy them through NFT marketplaces.
Some popular marketplaces where you can buy NFTs include OpenSea, Rarible, and Axie Marketplace.
We are currently in Beta testing for our very own marketplace, an ambitious project that we believe can help democratize the landscape of the crypto world.
By being the first 3D NFT marketplace for metaverse-ready content and opening our content database to the third-party metaverse, games, etc., while connecting the creators to various business opportunities, we believe ARize could be the backbone of a content layer across the metaverse.
