What makes some NFTs so valuable?
There are a variety of reasons why specific NFTs may be worth millions of dollars, but it’s vital not to get too caught up in them and instead focus on what you want to gain out of your experience. This article explains why certain NFTs are worth millions of dollars.
Let me start by explaining how NFTs function. NFTs function similarly to other crypto tokens on a blockchain, with the distinction that they cannot be traded directly. Non-fungible tokens are distinct bits of software code data saved via smart contracts that can be readily traced and confirmed in a variety of ways. Each token corresponds to a unique digital or physical object. They primarily use the Ethereum network, although NFTs are now being used by other blockchains as well.
Why are NFTs worth so much money?
Crypto art has been around for over a decade, but non-fungible tokens, or NFTs, have acquired appeal in the last year with that outside of the blockchain technology boom. An NFT can represent genuine objects like artwork, antiques, tickets, music, or even movies.
While traditional art has always been valuable, NFTs are becoming a more popular means to purchase and trade digital art. Why would someone pay almost as much for virtual ownership of digital art as they would for a genuine piece of art? The solution is straightforward: ownership.
People are generally confused as to why they should pay for something they can watch, copy, or download for free. The solution is simple: take ownership. Anyone can look at a photograph, but it only has one owner. Artworks, on the other hand, retain the author’s intellectual property. The owner, on the other hand, is free to use the artwork in any way that he or she sees fit. Collecting rare things is all about having exclusive rights to use and enjoy them.
NFTs aren’t exclusively for digital art, though. Also popular are tokens manufactured from in-game items. Game characters, vehicles, buildings and spaces, ammunition, and other objects may all be sold in a virtual gaming environment. In-game assets were formerly only owned by game developers; today, users may resell their one-of-a-kind gaming assets. Because of NFTs, it is both legal and exceedingly safe. Counterfeiting and forgery should not be a worry. The straightforward and transparent auditing methods of blockchain technology help in the authentication of any item’s legality. As a result, no one can accuse you of buying a fake if you buy something as an NFT.
Start your journey
WrapTag App lays on top of the web 3.0 foundation, which differentiates its operation from traditional web apps.
Get KEYRING PRO
To start using the WrapTag app, the user will need to have a ready-to-use wallet as KEYRING PRO. It allows user to sign in decentrally without prior registration.
- Download KEYRING PRO (iOS, Android, APK)
- Open KEYRING PRO
- Choose your language
- ‘Create new account’, or import one
- Choose TomoChain
Sign in to WrapTag App
Once your wallet is ready, you will need to sign in to use WrapTag App.
- On your mobile browser (Chrome, Safari, Firefox, etc.), go to app.wraptag.io
- Tap ‘Connect to wallet’
- Choose KEYRING PRO, Tap ‘Connect’
- On KEYRING PRO, choose your account then tap ‘Connect’
- Switch back to your Browser
- WrapTag home screen will appear
How to scan NFC Tag?
It only takes a few seconds to scan NFC Tag with WrapTag App.
- Tap ‘Start here’
- Scroll down, choose ‘Scan’
- Scan NFC Tag
- Choose your account, then tap ‘Connect’
- Once the NFT Certificate appears, tap ‘View’
- You will be able to view the wrapped item with details.
How to rewrite NFC Tag?
You can always rewrite, or replace your NFC Tag with WrapTag App.
- Tap ‘Start here’
- Scroll down, choose ‘Replace’
- Choose the broken WrapTag
- Tap ‘Transfer’
- Scan the new WrapTag
- Tap ‘Transfer NFT’
- A new NFT Certificate of the new WrapTag will appear.
Where to buy NFC Tags?
You can purchase NFC Tags directly on WrapTag App.
- On the home screen section, tap the ‘Cart’ icon
- Choose types of Wraptag, tap ‘Add to cart
- Tap the ‘Cart’ icon
- Set an amount, Tap ‘Check out’
- On the confirmation screen, tap ‘Confirm’
- Tap ‘Add card’
- Fill in your card info, tap ‘Next’
- A popup will confirm your card, tap ‘Next’
- Tap ‘Next’
- Your order will appear in the purchase history screen.