What is an NFT?
NFT stands for non-fungible token.
An NFT is a digital asset that represents a real-world object or something creative.
“Non-fungible” more or less means that it’s UNIQUE and can’t be replaced with something else. For example, a bitcoin is fungible — trade bitcoin one for another, and you’ll have exactly the same thing.
A one-of-a-kind trading card, however, is non-fungible.
NFTs are one-of-a-kind assets in the digital world that can be bought and sold like any other piece of property, but they have no tangible form of their own.
The digital tokens can be thought of as certificates of ownership for virtual or physical assets.
How do NFTs work?
Traditional works of art such as paintings are valuable because they are one of a kind.
But digital files can be easily and endlessly duplicated.
With NFTs, artwork can be “tokenised” to create a digital certificate of ownership that can be bought and sold.
As with crypto-currency, a record of who owns what is stored on a shared ledger known as the blockchain.
The records cannot be forged because the ledger is maintained by thousands of computers around the world.
NFTs can also contain smart contracts that may give the artist, for example, a cut of any future sale of the token.
People are paying millions of dollars for NFTs?
Yes, it is as wild as it sounds.
Some people even buy it from a bunch of dollars and selling it for thousands.
How much are NFTs worth?
In theory, anybody (even you) can tokenise their work, to sell as an NFT but interest has been fueled by recent headlines of multi-million-dollar sales.
It is not just art that is tokenised and sold. Twitter’s founder Jack Dorsey has promoted an NFT of the first-ever tweet, with bids hitting as high as $2.5m.
Christie’s sale of an NFT by digital artist Beeple for $69m (£50m) set a new record for digital art.
Should You Buy NFTs?
Here comes the fun part!
We from CryptoParty have discovered ArtSmiley.
Who is ArtSmiley?
ArtSmiley is an online art gallery based in Dubai. They sell high quality Paintings, Prints & Sculptures.
ArtSmiley envisions to be the multi-chain decentralised NFT marketplace for unique phygital (physical/digital) artwork and rare collectibles with a goal to bring NFTs to mainstream art aficionados.
ArtSmiley offers the following services to its customers for both B2C (Business to Customer) and B2B (Business to Business) online and offline;
– Original artworks / paintings
– Limited edition art prints including photography prints – NFT Tokenization Engine
– NFT marketplace
– ArtYield earnings distribution to the NFT Holders
– Commissioned paintings
– Online and Offline Exhibitions
On top of all that, SmileyArt will also have their own Token. I’m excited already! 😁
SMILEY TOKEN USE CASES
•Smiley Tokens are used for NFTization
•Smileys are essentially an underlying currency (or medium) to trade art
•Smileys are needed in every transaction and is necessary to buy NFTs available on the platform
•Smileys will bring Yields from the secondary marketplace
– Rentals, Sales Rewards are distributed back to the NFT holders as Smiley Tokens
– Any NFTs used for Ads & Exhibitions are also paid through Smiley
TAKE PART NOW!
DON’T HESITATE TO CONTACT us at CryptoParty or ArtSmiley if you want to know more about NFT and crypto!
AND TO KNOW WHEN THE IDO IS LIVE
Official telegram t.me/artsmileynft