NFTs PART 2
We’re back again with NFT’s! 🙌🏾
Yesterday we talked about what an NFT is - a digital asset (much like cryptocurrency is) that represents games and art, music, and videos. It is purchased only online using cryptocurrency.
If someone purchases NFT art from the original owner, the original owner is still the owner even if it changes hands and is paid for with crypto. A friend of the person that buys an NFT may be able to take a screenshot of it, or maybe tweet a picture of it, and say, “Hey I have an NFT,” but it’s not theirs. That’s not how it works, it’s the blockchain that tells the story!
Even NFT doubters who tell you that they bought the NFTs and saved it on their laptops so now it belongs to them surely don’t know what they’re talking about. The owner/creator of the NFT is the owner now and forever, even if someone bought it from them. Only the original owner owns it.
But listen! This gets better! If the person bought it from you the original creator, and then they want to sell it to someone else, as original owner of the NFT - you will get a portion of that sale!🤸🏾♀️🤑 Every time it sells, you get a portion of the sale! This is a brand-new area of income that has never existed before now! I’m telling you that crypto, NFTs, and the Metaverse are creating new avenues of income that I refuse to be without!😊
Let’s say you purchased a physical painting, hung it on the wall, it’s yours. But if you take it off the wall and sell that painting, now it belongs to/is owned by the person who purchased it from you, it is no longer yours! Not so with NFT’s. With an NFT the person who bought it from you has it in their possession but the blockchain still has it recorded that the certificate of ownership belongs to you.
This is the beauty of NFTs. With physical paintings, the sale ended when it exchanged hands. With NFT paintings the sale never ends. If the NFT changes hands, you’re making money. When it changes hands again, you’re making more money. And since the price of the NFTs increase with time, you make more and more money every time it changes hands. It’s such a beautiful thing!
More on the beauty of NFTs tomorrow!✌🏾
Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestion in this post.