What is an NFT Marketplace?

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Torn
Posts: 17
Joined: 08 May 2021, 10:10

What is an NFT Marketplace?

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An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?

NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.

Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
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Ilona
Posts: 22
Joined: 08 May 2021, 05:40

Re: What is an NFT Marketplace?

I have been using NFT for a long time and I really like what I end up with. If you upload your own, and not someone else's, creation - it is appreciated.
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Gregori
Posts: 14
Joined: 08 May 2021, 05:44

Re: What is an NFT Marketplace?

Ilona wrote: 11 May 2021, 10:12 I have been using NFT for a long time and I really like what I end up with. If you upload your own, and not someone else's, creation - it is appreciated.
And what's the point of filling someone else's? There surely is identification for rights there? Or am I confusing something?
It seems to me that if people here pay for the creations made by you, then a selection should be made and the works should be distilled from the Internet.
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tyufhf
Posts: 232
Joined: 21 Dec 2021, 12:25

Re: What is an NFT Marketplace?

Gregori wrote: 14 May 2021, 05:15
Ilona wrote: 11 May 2021, 10:12 I have been using NFT for a long time and I really like what I end up with. If you upload your own, and not someone else's, creation - it is appreciated.
And what's the point of filling someone else's? There surely is identification for rights there? Or am I confusing something?
It seems to me that if people here pay for the creations made by you, then a selection should be made and the works should be distilled from the Internet.
Of course the owner gets the rights, but it isn't very trackable. There a lot of thieves and troll just screenshoting your NFT and be like "gotchya"
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Nile
Posts: 250
Joined: 21 Dec 2021, 17:57

Re: What is an NFT Marketplace?

tyufhf wrote: 21 Dec 2021, 14:07
Gregori wrote: 14 May 2021, 05:15
Ilona wrote: 11 May 2021, 10:12 I have been using NFT for a long time and I really like what I end up with. If you upload your own, and not someone else's, creation - it is appreciated.
And what's the point of filling someone else's? There surely is identification for rights there? Or am I confusing something?
It seems to me that if people here pay for the creations made by you, then a selection should be made and the works should be distilled from the Internet.
Of course the owner gets the rights, but it isn't very trackable. There a lot of thieves and troll just screenshoting your NFT and be like "gotchya"
I have seen quiet a lot of property thieves out there. Yes, this is real. Why do they bother getting in the topic of NFTs they no nothing about and have no interest?
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Mike09
Posts: 180
Joined: 22 Dec 2021, 06:47

Re: What is an NFT Marketplace?

Ilona wrote: 11 May 2021, 10:12 I have been using NFT for a long time and I really like what I end up with. If you upload your own, and not someone else's, creation - it is appreciated.
You do know that there are a bucnh of NFT resellers? They make it very clear with owner and authorship. It's more about property, i think. So if the papers were done correctly no one really cares who made it in the first place
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Mike09
Posts: 180
Joined: 22 Dec 2021, 06:47

Re: What is an NFT Marketplace?

Nile wrote: 21 Dec 2021, 18:05
tyufhf wrote: 21 Dec 2021, 14:07
Gregori wrote: 14 May 2021, 05:15

And what's the point of filling someone else's? There surely is identification for rights there? Or am I confusing something?
It seems to me that if people here pay for the creations made by you, then a selection should be made and the works should be distilled from the Internet.
Of course the owner gets the rights, but it isn't very trackable. There a lot of thieves and troll just screenshoting your NFT and be like "gotchya"
I have seen quiet a lot of property thieves out there. Yes, this is real. Why do they bother getting in the topic of NFTs they no nothing about and have no interest?
A lot of young people believe that NFTs are easy money. That's the case. I think no one really understands fully what going on, the power of crypto
User avatar
HubertMon
Posts: 140
Joined: 24 Dec 2021, 13:42

Re: What is an NFT Marketplace?

Torn wrote: 08 May 2021, 11:53 Image

An NFT Marketplace is a marketplace for NFT. So far so good. But what is an NFT?

NFT is an acronym for “Non-Fungible Tokens”. Something which is fungible is replaceable. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.

Although NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. These tokens are stored cryptographically in a blockchain network for authentication and validation. Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known).
NFTs are a new form of art that can be bought with crypto currency or any other regular finance like USD
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HubertMon
Posts: 140
Joined: 24 Dec 2021, 13:42

Re: What is an NFT Marketplace?

Mike09 wrote: 22 Dec 2021, 07:03
Nile wrote: 21 Dec 2021, 18:05
tyufhf wrote: 21 Dec 2021, 14:07

Of course the owner gets the rights, but it isn't very trackable. There a lot of thieves and troll just screenshoting your NFT and be like "gotchya"
I have seen quiet a lot of property thieves out there. Yes, this is real. Why do they bother getting in the topic of NFTs they no nothing about and have no interest?
A lot of young people believe that NFTs are easy money. That's the case. I think no one really understands fully what going on, the power of crypto
NFTs is such unreviewed and unexplored concept. Of course many bad accidents and scams can happen.
User avatar
HubertMon
Posts: 140
Joined: 24 Dec 2021, 13:42

Re: What is an NFT Marketplace?

Ilona wrote: 11 May 2021, 10:12 I have been using NFT for a long time and I really like what I end up with. If you upload your own, and not someone else's, creation - it is appreciated.
Is it against the law of authorships that is written on any creypto trading platform? I know it is hard to detect but even so it is very strict
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