Inside the Billion-Dollar Crypto Sensation.Graphic by Rhett \/ Mankind1. Authentication and Reduction of Art Forgeries:Every single artwork can be traced back to the creators, and the collector also receives valid proof of ownership. You can go to websites like etherscan.io and view the entire transaction history of your purchase.2. Digital Editions:Creatives can make limited digital series of their artwork, and all their editions can be traced back. (The YouTube star Logan Paul recently sold $5 million worth of NFTs, his own version of Pokemon cards) Say What!!3. Compensation for Future Sales:NFTs contain highly trustworthy documentation of their history and origin and can have code attached to do almost anything programmers dream up (one popular feature is code that ensures that the original creator receives royalties from secondary sales).A percentage of an artwork being resold gets compensated back to the original artist, which incentives the creators to create more. There is a caveat, though. Currently, the method that few platforms use for paying creator shares is not reproducible on secondary markets. The creator share percentage is only paid out if the secondary sale also occurs on the platform it was first sold at.4. Fractional Ownership:\u201cWith NFTs, you could collect a high-value piece and fractionalize it, put it on a bonding curve, and sell fractional pieces of work to a bunch of people. Or, let\u2019s say there\u2019s a really popular artist, like Pak. Someone could bundle a bunch of Paks, and create an index fund around that. Similar to a commodities ETF, you could have exposure to Pak without owning a singular Pak because you have tokens that are a part of that index fund.\u201dZack Honarvar, 27, the founder of the talent management firm One Day Entertainment, said that he and Airrack, a creator he manages, have been playing around with using\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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