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NFTAuction.Exchange Helping Solve an Important Problem: Who Can Own NFT

·3-min read

TURKEY CITY, Pa., June 18, 2021 (GLOBE NEWSWIRE) -- Recently, NFTAuction.Exchange announces that it has made significant progress in helping people access and own NFT. Total NFT sales reached an eye-watering $2 billion in the first quarter, according to data from Nonfungible, a website which tracks the market.

Digital art can easily be cloned, but non-fungible tokens allow buyers to securely claim it.

A non-fungible token (NFT) is an electronic identifier that verifies the existence and ownership of a digital collection. The technology has been around since at least 2017 and is an offshoot of the 2021 crypto boom, which also runs on blockchain.

Many people are attracted to NFT technology because of its democratizing nature: anyone can log in and purchase goods and works that come with a public ledger of its entire history - when it was made, who owned it, who bought it, and for how much.

This is described as a departure from past art purchases, in which investors store valuable artwork in storage for a time when it will be valuable than.

Example: In March, South Carolina-based graphic designer Beeple, whose real name is Mike Winkelmann, sold an NFT for a record $69 million at a Christie's auction. Jack Dorsey, CEO of Twitter, sold his first tweet as an NFT for $2.9 million later that month.

The popularity of cryptocurrencies and the rise of art market speculation have been around for quite some time - but the pandemic continues to spur the industry's success of a technology like NFTs.

In the years 2020 and 2021, when we have to strangely and radically move most of our lives online, it has opened up or accelerated the process of valuing digital goods in a similar way. We value material goods.

NFT Auctions (NFTAuction.Exchange) work much like online auctions on platforms like eBay. Each work is displayed online with its title, number and owner.

But with NFTACE it's much easier, most NFT technologies only apply to influencers or famous works of art, so NFTACE makes it easy for everyone who can access and own NFT in the easiest and safest way.

In other words: using ACE, the buyer will pay for a work of art on the NFT auction platform and in return will receive an address confirming the purchase and possession of the digital goods.

This is a project developed for the community, you can make the transaction of art or digital goods in a simple way. Just log in, connect your personal wallet address and proceed to create booths and sell art products (photos, videos, music, memes...) or digital goods (domains, services...)

This is the beginning of the NFT market as developers, celebrities and corporations join in. so NFTACE's expansion of the market to everyone is a step in the right direction at the moment, which means a lot to make NFT more accessible to everyone anywhere.

Media Contact

Company: NFTAuction.Exchange

Contact: Rabin Tagore




SOURCE: NFTAuction.Exchange