Книга - NFT.MUSIC.ART

NFT.MUSIC.ART
Alexey Komov


«NFT has already taken over the whole world, but not everyone still understands what it is and how it works. Many of us would like to understand the world of cryptocurrency, develop own projects in this area, or, receive profits from investments in NFT. Cryptoworld is in a stage of active developing and in search of new talents. If you want to be one of them, now this is the best time for it…»





Alexey Komov

NFT.MUSIC.ART



The author expresses gratitude to his team, without which this book would not exist:

to Komova Victoria Georgievna for assistance in proofreading;

to Zabirov Ramil Shavkatovich – translation agency Aatoslingvo




Chapter 1:

What is NFT and how to use it?








What is this?


NFT has already taken over the whole world, but not everyone still understands what it is and how it works. Many of us would like to understand the world of cryptocurrency, develop own projects in this area, or, receive profits from investments in NFT. Cryptoworld is in a stage of active developing and in search of new talents. If you want to be one of them, now this is the best time for it.



NFTs are hard to understand, and there are two reasons for it:

– they do not exist in a real world

– this topic contains many technical terms



Our guide is written in a most understandable and clear language, without large use of technical words. In a few chapters you will get the general idea how to adapt to the NFT world, create your own project and make your first profit.



NFTs or non fungible tokens are digital assets that establish ownership of an object: pieces of art, music, in-game assets, videos, tickets for events, digital property, avatars or any other object. Now let's get in details.



One famous digital artist Beeple created a set of 5000 everyday drawings called "First 5000 days". Anyone can look at this collage online for free. This composition was sold at Christie's for $69 million. Why spend millions on something that you can just download or take a screenshoot?

NFT allows the buyer to own an object. The unique ID has a built-in authentication, that serves as proof of ownership. That is, NFT buyers acquire basically a code, which already manifests itself in a certain image, music, video etc.

Why people want to spend millions on what they can screenshot or download? NFT allows the buyer to own an object.

Turning your labour into a digital asset looks like a promising way of earnings. There are lots of reasons why you should do this, and we will thoroughly study every single reason.




How are NFT and crypto related?


NFTs are sold and bought in internet for cryptocurrency. Also, you have to know that NFTs are encoded with the same basic software as many cryptocurrencies, like Bitcoin or Ethereum.

But physical money and cryptocurrencies are interchangeable, that is they can be exchanged for each other.

NFTs are unique in that they differ from each other. Everyone has a digital signature, which makes this exchange or equivalence impossible. That's why we call them non-fungible.




How did NFT tokens appear?


In 2012, Meni Rosenfield posted an article in which he presented the concept of Colored Coins. These coins describe Bitcoin's method of representing and managing blockchain assets and coins can play a role of a signature to confirm ownership of assets. Basically, these are ordinary bitcoins, but with different way of usage.

This idea of colored coins was not implemented, but, created a base for NFT in a future.


Who created the first NFT?

In May 2014, a digital artist Kevin McCoy created the first NFT – Quantum. It was a pixelated pulsating octagon that changed its colors, forms and shapes within itself. It looked hypnotically alive.

According to Kevin, NFT became a natural development of a long-lasting cooperation between artists and technology. His work "Every frame, every episode" can be seen in Metropolitan Museum of Art even today.

Seven years after NFT Quantum was created, the one-of-a-kind piece was sold for nearly $1.5 million at Sotheby auction.



At the same time, blockchain Ethereum introduced a set of standarts according to which developers could create tokens. The standart has become a supplement to smart-contracts. We will talk about the importance of contracts later.



CryptoArt was initiated by a cultural phenomena like CryptoPunks, Rare Pepe and CryptoKitties. They got their popularity due to viral network effects and laid the groundwork for NFT era.



In 2014 Robert Dermody, Adam Krellenstein and Evan Wagner created a Counterparty, a peer-to-peer financial platform and open source distributed internet protocol built on Bitcoin blockchain. Counterparty made it possible to create assets and had decentralised exchange, that allowed other people to create their own traded currencies. This allowed to share ideas and possibilities, including the memes trade without any problems with fakes.



In 2015 Counterparty became a partner of Spells of Genesis.



In 2016 with an NFT Rare Pepes premier on the Counterparty platform, a new era of memes began and got an enormous success. Pepe the frog, or, Rare Pepes, is a comic character and become an internet sensation.

After Rare Pepes success, John Watkinson and Matt Hall created a project called Cryptopunks and attention to NFTs just increased. Cryptopunks will never have two identical characters, and their number will be limited to 10,000.

In 2017 everyone started to talk about CryptoKitties. This is a game based on a blockchain, where people can adopt, breed and even trade with cats without leaving their digital wallets. Game become so popular that people started to get more and more earnings. CryptoKitties was on a news headlines, including famous CNBC and Fox News. Many people started to understand a true potential of NFT.

In 2018–2020 NFT was dominated by games. This is how the first decentralised virtual reality platform based on Ethereum was created, and it was named Decentraland. Thanks to this game, players started to own in-game assets and earn money.

On St. Valentine's day in 2018, artist Kevin Abosh joined GIFTO for a charity auction. The partnership led to a $1 million transaction for a CryptoArt piece called The Forever Rose.



From 2021, a new era of NFT has begun. The surge in purchases became striking, the amounts increased to astronomical. When Facebook has announced that it was moving to the Metaverse and renamed itself Meta, it became obvious that the exploding NFT time was just beginning.



Rapidly rising popularity of NFT just started to show its unlimited possibilities. If you want to catch one of this possibilities, you have to know how to do it.




How does NFT work?


NFTs are created from digital objects representing tangible and intangible objects. Most of them are digital collectibles.

The acquisition of NFT guarantees your exclusive ownership rights. NFT can have only one owner, and usage of blockchain technology makes it easier to verify ownership and transfer tokens between owners.

The creator of the NFT product can also keep certain information in metadata. For example, artists can sign their work, including a signature in a file.

NFTs exist in a blockchain, which looks like a distributed public ledger in which transactions are recorded.



Contracts of owning NFT contain special data that usually consists of:

– NFT name

– typical description

– image URL pointing to the data

– other random data



These data are called metadata. Smart-contract programming is coded in Solidity language.

Since everything is decentralised, there is no common point where all of it is stored. Smart-contracts cannot be removed and cannot be regulated by anyone or anything.




Where is NFT used?


In chapter 6 of our guidelines we will discuss directions and possibilities for NFT. Let's go through general information, where active work is already underway in cryptospace.


Art

Artists no longer need to rely on gallery or auction houses to sell their art pieces. They can sell their products right to the consumer. This also allows you to get higher income. In addition to this, authors can programm its NFT that way, in which they will get a profit from futher sales to a new owner. This is an advantage, as artists usually never get a profit from futher sales of their product.


Games

Cryptoworld was born from the digital worlds for games. Thanks to NFT, players can monetize their time spent on a game and purchase items with the right of ownership.


Fashion

Digital fashion is just on its rise. World-famous brands auction their own thematic products as NFTs in order to raise money for charity and expand their

audience. Many people introduce the ideas of virtual collections for their avatars.


Music

In cryptoworld musicians can share their music among listeners without intermediaries, conduct a performance for millions of people in the Metaverse with incredible fantastic shows and keep a close contact with the fans.


Influencers

Many celebrities begin to launch their own avatars or sell unique memories, pieces of art and moments in securitized NFTs.


Sport

Sport industry makes tokens out of the best moments of games, videoclips from games or sport inventory as a collectibles.

This is just a small part of NFT potential.




NFT uniqueness


The main value of NFT is that it is a non-interchangeable token. Bitcoin or Ethereum are interchangeable. But there are no two identical NFTs. Even if multiple copies of the same NFT are created, each will be numbered or identified as a unique one in any different way. This makes NFTs collectibles.

Many NFTs are digital understanding of what already exist. For example, videoclips from NBA games, securitized versions of Instagram and many others. But NFTs themselves are one-of-a-kind items, as they have unique IDs.




NFT legal base


Is there any legal protection of NFT?

Yes. Digital and physical assets are protected by NFT ecosystem, thus, allowing to establish clear traceability. Usage of non-interchangeable tokens in blockchain based on smart-contracts makes trading digital materials on the Internet safe and easy.

Legal framework around blockchain and NFT assets is still developing in many countries.



Is there any legal protection of NFT? Yes. Usage of non-interchangeable tokens in blockchain based on smart-contracts makes trading digital materials on the Internet safe and easy.




Chapter 2:

NFT marketplaces











What is an NFT marketplace?


NFT marketplaces are some kind of large internet stores, where people can take a look at an assortment of digital goods and make purchases. Since NFTs are in a blockchain, many of the NFT marketplaces will force you to have a cryptowallet.

NFT marketplaces nominate listed assets in digital currency, but the most widely used is Ethereum. After you bought NFT, ownership passes from the seller to the buyer, who incurs a transaction fee on the Internet.

Cryptoworld is constantly developing and many different marketplaces are opening every day. Many of them will find its own niche in the market. In this guidelines we will take a look at the most popular platforms.



For artists, these platforms are the best at the moment:



Opensea

Rarible

Foundation

Binance

SuperRare

Sotheby's


Let's take a closer look at how it works.




How do NFT trading platforms work?


First of all, you must have a crypto wallet. Even if you have such a wallet, you

have to make sure, that your currency is applicable for NFT. Many marketplaces transfer NFTs in ETH, while others might use Solana (SOL), Tezos (XTZ), FLOW and many other cryptocurrencies.

Marketplaces offer:

● to buy NFT:

Investors can buy NFT via auction or fixed-price listing. After buying, ownership of the NFT will be transferred to the buyer.



● mint NFT:

Many marketplaces allow users to mint their own NFTs. This includes its changing into a digital asset, placed on a blockchain.

● to sell NFT:

Marketplaces allow sellers to place their NFTs for buying by others. Usually, sellers pay a fee to the platform after a successful transaction, however, many other platforms offer royalties for futher sales on secondary markets.




Types of NFT marketplaces



NFT marketplaces for Arts

There are some markets that specialize exclusively at NFT Art. OpenSea and Rarible have the leading positions in this race, and these marketplaces allow creators to place digital art NFTs and sell them to collectors.


Ethereum NFT marketplaces

These marketplaces are built on Ethereum blockchain and offer digital assets listed in ETH. Nowadays, OpenSea is the largest Ethereum marketplace, with a value worth of around $13.3 billion.


Solana NFT marketplaces

Solana NFT art markets are hosted on the Solana blockchain, offering a faster alternative to Ethereum. Besides, Solana is highly scalable. This makes it possible to reduce network fees. Nowadays, Solana itself is not so popular, but at the same time, Solanart and Solsea are the two largest.


Algorand NFT marketplaces

Algorand is another blockchains network that started developing in NFT not long time ago, and several Algorand NFT marketplaces have emerged. Professionals consider Algorand as a way more ecological and scalable than the current Ethereum framework. Since it represents a blockchain with a clean proof of the fraction – PPoS.


Tezos NFT marketplaces

Tezos is a blockchain with an open source that works with its own XTZ token. Tezos NFT markets became more popular during the last year, and large marketplaces such as Rarible now offer Tezos-based NFTs.


BNB NFT marketplaces

BNB NFT marketplaces use the popularity of Binance Coin, the native token of the Binance cryptocurrency exchange. The most popular marketplace will be definately Binance NFT Marketplace itself, which allows users to buy NFT listed in BNB.




Where and how to buy a cryptocurrency?


Today there are several ways to do it:



Method 1: Buying and selling crypto with a bank card through a cryptocurrency exchange



Due to sanctions in Russia it is impossible to replenish the Visa and MasterCard account directly from a bank card. All transactions within the market are available to Russians, but you cannot deposit or withdraw your money. In orded to do this, you have to use p2p or any other exchange offices.



Method 2: Buying and selling crytocurrency with a bank card through online exchange office



There are a lot of offers on the market with a different range of reputation. The best way is to reach out to aggregators for help.



Method 3: Buying and selling crypto with a banking card through Peer-to-Peer platforms.



Here you can find the best offers, however, the risks are high as well. You have to choose more experienced market participants with long-standing reputation on the market, thus, you will reduce risks.



Method 4: Buying and selling crypto with a bank card through EPS (Electronic Payment Systems)



Some of the EPS allows the exchange of fiduciary funds inside the wallet for cryptocurrencies and vice versa, and also have input / output functions from a bank card. The list of some systems with support for cryptocurrencies: PayPal, WebMoney, Advanced Cash, Payeer, Perfect Money.



PayPal allows to work with crypto only to USA residents.



Method 5: Buying and selling crypto for cash through a courier



This method is popular for buying and selling crypto for large amounts. Most often, this method is used when you need to exchange amounts of at least 1 million.



Method 6: Buying and selling crypto for cash in office

Many large cities already have physical cash desks which you can visit by your own and exchange your money to crypto, and back.



Method 7: Buying and selling crypto for cash via ATM.

There are two options – Cryptomats and regular ATMs. In the first scenario you have to find valid ATMs with support for cryptocurrencies.




Gas fees on a marketplace


Gas fees are charged when the following actions take place on the blockchain network: buying, selling, in other words, transfer of ownership of the NFT to another person. This whole process requires a lot of energy, thus market participants have to pay compensation for gas.

Gas fees are not fixed, and it can vary greatly. Tariffs fluctuate

1) depending on the level of network congestion. When network is used by many people, the costs will rise.

2) depending on the speed of the transaction. Some platforms allow you to choose your mining speed, so you would pay less commission.


There are two main types of fees:


One-time payments for gas

Some marketplaces will require users to pay a one-time payment for initialisation of crypto wallets. This will be mandatory for those users who have not previously sold NFTs on the market.


Regular gas payments

Regular gas payments are used for general network task. Those are: accepting an NFT offer you listed, transferring ownership of an NFT to someone else, buying NFT, canceling a bid you placed at an NFT auction, and more.


Those markets are the best for artists at the moment:

Opensea

Rarible

Foundation

Binance

SuperRare

Sotheby's




Open markets


There are two types of NFT marketplaces:

● open markets

● closed markets



Open markets are free to use and compete with each other. These markets are the best places for NFT traders and art brokers to find a beginning artist who will eventually become popular.


Popular open markets


Opensea

OpenSea is the largest open market in terms of volume and choice of assets,



which has been operating since 2017.

OpenSea was the first marketplace that made NFT trading publicly available, and by far it has had more than a million users since its launch. This market is based on the Ethereum blockchain and offers different types of NFT: art, domain names, in-game assets and many other things.

It is important to notice, that OpenSea supports more than 150 cryptocurrencies as a payment method. Investors can easily buy and sell NFTs using their cryptocurrency balance.

OpenSea charges sellers 2,5 % fee for transaction when their product is sold without any additional cost to the buyer.

OpenSea supports 14 different crypto wallets.

However, the main disadvantage of the trading market is a huge competition. OpenSea's audience is significantly larger than at other platforms, but at the same time it has the widest choice of art.


Rarible

Rarible was developed in 2020, is also considered one of the most reliable online NFT markets.

A distinctive feature of Rarible is the use of their original token (RARI) that can be used for selling or buying NFTs on this market. This token also allows users to vote, suggest upgrades, or curate selected pieces of art, as well as moderate community members and offer community grants. This means that it exists as digital warehouse that encourages users to manage this platform.

Rarible charges gas fees for the initial contract. You'll also have to play for minting every time you try to sell your work.

Rarible has a wide range of digital art, as well as photos, games, web domains, music and metaverse assets. Platform takes a 2,5 % fee from buyers and sellers. However, Rarible is supporting several blockchains and can place NFTs based on Ethereum, Flow and Tezos.

And the most important thing is that Rarible users can buy NFTs using their credit or debit card. Rarible is supported in more than 190 countries, thus, making it easier to buy the Rarible NFT worldwide, so it is one of the NFT's largest marketplaces.

Rarible also supprts MetaMask and Coinbase crypto wallets.


WAX SimpleMarket

The WAX platform was launched in 2017 and had an idea to increase the speed and efficiency of e-commerce transactions. This platform is EOS compatible and uses blockchain capabilities in order to compete with Ethereum, aiming to become the leading network in the space. The WAX NFT marketplace itself is called SimpleMarket and offers more than 140,000 digital assets for trading.

The vast majority of WAX NFTs are nominated in WAX, a native token of the network. There is also a popular secondary market for WAX NFT based on AtomicHub that claims that it provides exchange services without gas fees. Famous brands as Atari and Sony are using WAX blockchain in order to create their own NFTs, thus, this platform can be considered as reliable. Fees structure for initial NFT releases is still unclear, but WAX charges a transaction fee of 2 % in secondary markets.


Crypto.com

When you are choosing platform for your NFT you can also consider Crypto.com. This is one of the leading cryptocurrency exchanges and is used by more than ten million people. Crypto.com recently also launched its own NFT market. This marketplace was created in 2021 and offers you NFTs from categories such as art, games, sport, NFT music and of course – cryptocurrency.

Crypto.com striving to ease the entire process connected to investments, as the result, users can register their NFT account on Crypto.com just in few minutes. NFTs are available at auction or at fixed price, and users can buy NFTs with their credit or debit card. The most important thing about the purchase process is that there is no transaction fee when buying an NFT on a Crypto.com, which makes this platform unique in this way. You also can find some of the most expensive NFTs on the Crypto.com market.

This platform is relatively easy to navigate and accessible to both experienced investors and newcomers. Crypto.com collaborates with many famous people: Snoop Dogg and Boy George. Crypto.com also supports NFT based on Ethereum, providing many new possibilities for future investors.


Nifty Gateway

Nifty Gateway is concentrated around the premium expensive NFTs with a limited number of assets. This platform features a wide variety of notable actors and artists, such as Steve Aoki, Grimes. Nifty Gateway also attracts big investors.


GameStop

GameStop is trying to go beyond simply selling video games and gain a foothold in the NFT gaming space. This company has created a huge fund for game developers who prefer to use the GameStop market rather than alternatives.

The GameStop market is concentrated on in-game assets, such as: digital property, weapons, suits and many others.


DraftKings

Initially, DraftKings was a major betting company in US, primarily engaged in sports betting. At the end of 2021, the company launched its own NFT market. Some of the notable NFTs listed on the DraftKings marketplace include works from Tom Bradley, Tony Hawk, Wayne Gretzky and many others.

Nowadays you can buy around 300 collectibles on the marketplace, ranging from cheaper options to premium prices. Users can top up their DraftKings account with a credit/debit card, bank transfer, and even PayPal. But while DraftKings does not support any type of cryptocurrency. Transaction fees for initial releases are unknown, however, although secondary sales will charge 10 % royalty to the original creator and 5 % transaction fee.


NFT LaunchPad

The new digital asset market was only launched in February 2022. It has already begun to attract the attention of investors. This marketplace offers you NFTs minted in Binance Smart Chain (BSC) and Polygon blockchains, providing a wide range of assets.

NFT LaunchPad assets are denominated in Wrapped BNB (WBNB) system, one of the most widely used cryptocurrencies.

The purchase process is simplified as NFT LaunchPad lists digital assets through a traditional auction, a decline auction, or a fixed price. Users can connect their MetaMask wallet to the platform in just a few clicks, while maintaining full control over their secured keys.


Binance

The advantage of Binance is that they offer low commissions. Users can buy NFT for as little as 1 % of the transaction fee.

Binance also considers NFT in Binance Smart Chain and Ethereum blockchain, providing a wide range of traded assets.

User interface is easy to navigate and includes NFTs in collections that include art, sports, entertainment, games, collectibles and more.




Popular closed marketplaces:


Closed markets, sometimes also called premium, allow authors to register only by invitation. It's time for creators who are already actively selling their work on open trading platforms and are ready to move forward to switch to premium marketplaces:


Foundation

The Foundation is the NFT's most visited and most accessible closed marketplace.

This platform was officially launched in 2021 and got its popularity, accepting thousands of creators.



The major advantage is – reputation. NFT art collectors know that the platform only houses works that deserve high ratings.

The 15 % fee is higher than most marketplaces and gas fees are also high.

The platform supports only PNG, MP4 and JPG formats, but soon it will support Audio, 3D and AR formats.


How to join?

Invitation codes usually sent via Twitter with NFT's unique performers, who are growing in popularity. However, in some cases you can exchange this code for NFT or money.


Makersplace

Makersplace is less available than Foundation.

But the rewards structure is way more profitable than in Foundation. Creators pay for gas only once for minting, and their commission for sale is 15 %.

Makersplace also supports more file formats, including JPEG, PNG, TIFF, GIF and MP4.


How to join?

Creators can join this platform by sending their portfolio and profile for listening, and receive an official invitation after passing.

Audition process is relatively loyal, but you have to wait for several months.


SuperRare

This is an exclusive NFT art market, which is famous for hosting some of the most expensive and high-profile NFT sales in cryptocurrency history.

Here are digital works of art created by famous artists and the most promising authors. Thus, SuperRare has made a great reputation for itself.

This platform also has the most famous investors, such as: Samsung Next, Mark Cuban and Ashton Kutcher. SuperRare is also famous for high-profile NFTs, such as "DΞSTINATION HΞXAGONIA" for $2 million in partnership with EDM musician Don Diablo. SuperRare uses Ethereum blockchain transactions and NFT checks.

As many other NFT platforms, SuperRare mainly operates on a temporary auction model.

SuperRare is distinguished by the ability to create its own contracts for NFT minting, known as "sovereign smart contracts".

Creators receive 10 % royalties for each sale of their creation through a peer-to-peer network (P2P) on SuperRare for an unlimited period, which helps artists earn passive income from their artwork regardless of how many times their works have changed hands. SuperRare also implemented a collector's commission that pays 1 % to the first collector when he sells NFT. Unlike the artist's commission, this collector's commission decreases over time, and its percentage decreases by 40 % with each subsequent reselling, until it is fully exhausted. There is also a secondary collector commission that starts at 0,5 % with every subsequent selling and decreases on the same scale as the primary collector commission.


How to join?

During SuperRare's early years, new users had to apply for approval in order to place their work on the platform. Every entry has to be fully original, created by the owner of the application account and not tokenized anywhere else. Every NFT made by this procedure was created right on the platform after its review and approval. As the result, each artwork featured on SuperRare was a unique piece of digital art. However, in summer of 2021, SuperRare presented its own token named RARE to democratize platform management processes.

In 2021 SuperRare started handing out RARE tokens as a reward to those, who contributed a lot to platform's development.


Sotheby's

This is the first major auction house to open a marketplace specifically for NFT.

Auction house is using its experience in the art world, and regularly holds premium auctions. Auction bets can range from $10,000 to $2 million.

Platform offers new technical advances that traditional Sotheby's site could not implement on its main site.




Chapter 3:

What do you need to create your first NFT?








Types of NFT


Before we will start talking about NFT creation, we need to decide which digital asset you want to tokenize in the first place. You have unlimited options available.

But first of all, make sure that you own intellectual property on a certain object that you want to turn into an NFT and to the IP address you work from.

If you don't have any specific idea, you can check the DataBase website with a list of new NFT projects, a list of the best and those that will appear in the near future.

Right now, the following types of NFT are the most popular:


Collectibles

Collectible objects are the first type of NFT that was ever created. Pokemon cards, vintage toys, Curio Cards – all of them were the first NFT collectibles. Then, Bored Ape Yacht Club, Cryptopunks, Cat Colony, Meebits and others appeared. The most famous example of NFT collectibles – Cryptokitties – was so popular one day that it overloaded the Ethereum network.


Pieces of art

Art is on the peak of its popularity right now. Digital artworks always come with a public certificate of authenticity and title issued by the digital book in which they are stored. The most expensive NFT to sell so far is an art named "The first 5,000 days" created by an artist Beeple, and it was sold for $69,3 million in March 2021 at Christie's.


Sports memorabilia

NFT sport souvenirs are also very popular. The most famous NFT in this

segment is NBA Top Shot. This type of NFT usually includes a videoclip with memorable sports moments. The LeBron, James Dunk, Throwdowns (Series) is a clip where LeBron James, a Lakers player, scores a goal. It was sold for more than $380,000.


Video game assets

These are video games based on NFT in which players participate to win awards, such as cryptocurrency, digital assets or other NFTs.

The first asset in this category was game named Axie Infinity, after which CryptoKitties, Gods Unchained, Sorare and many other were launched.


Virtual Earth

Fast developing NFT area, which includes land in video games and in the Metaverse. Digital piece of land can be used for ads in video games, creation of digital assets and etc.


Memes

A few years ago nobody could imagine that memes could have any financial value, but with the NFT wave, memes also become part of the digital assets. Original meme Doge was sold for $4 million in June 2021. Such famous memes as: Disaster Girl, Bad Luck Brian, Success Kid and NyanCat were sold for a huge sums of money. Meme Disaster Girl was sold for $470,000.


Domain names

These are crypto-domains minted on a blockchain, for example – Binance Smart Chain or Ethereum. They have more than 500 domain names, where the most used is".eth". Cryptodomains do not depend on any centralized authority, thus, they are a desirable asset. They can also be used to bind crypto wallets, which is not found in domain names other than NFTs.


Personality

One of the most important characteristics of NFTs is rarity. Each NFT is unique and cannot be replaced by any other token. They can serve as unique identifiers, thereby providing reliable support for management, certification and licensing systems. Certificates and minting licenses, as well as NFTs to validate and verify a person's records, can change the identity management sector.





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