TL;DR Breakdown NFTs have no replica, and copyrights belong solely to the owner make sure you are not scammed when doing trade. Scammers in NFTs Non-fungible Tokens have been such a topic in both the art and the finance sectors of the economy. NFTs are tokens that deal with uniqueness as their determiner of value. They use the same technology as cryptocurrencies, but unlike cryptocurrencies, they have no replica, and copyrights belong solely to the owner of the NFT. After Jack Dorsey sold his first tweet at $2.9m, it set a great example to investors and artists and gave them ideas of what and where to trade in the form of NFTs. As fate would have it, some scammers saw this as an excellent opportunity to earn a massive amount of cash without doing much. Is NFT a scam? While some have begun investing in NFTs, some claim it to be a scam. The latter cling to their claims that some NFTs can be found on various websites for free. However, that is not the principle that NFTs work on. NFTs are owned because of their uniqueness. Taking an example of Beeple’s every day: THE FIRST 5000 DAYS, the creator Mike Winkelmann sold it to Vignesh Sundaresan (MetaKovan), who is now the owner of the piece but does not have copyrights on it. Fetching more than $69 million, the work must have been legitimate! NFTs are NOT a scam. How one can get scanned There are various ways that scammers can use to defraud you of your last cent! These include; Hy...
