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Many industries are being revolutionized by NFTs

Many industries are being revolutionized by NFTs

The art industry is one of the main ones.

This technology secures the copyright of a cryptographic work of art and differentiates what is a copy from the original. Cryptographic art comes to put an end to the conflicts that occur in this environment, such as counterfeiting, theft or piracy.

NFTs have completely revolutionized the way transactions are conducted in an industry that has rarely been regulated. This is where non-fungible tokens come in, because they have a network of blocks (blockchain) where an indelible record of all transactions that can be made with a given NFT is automatically generated. And from this, the blockchain creates the so-called smart contract, which is cryptographically protected.

This innovation has fostered decentralization and transparency in the market.

Music and NFTs

In terms of music, the American rock band, Kings of Leon, was the first music band to release a new album in NFT format. The album that was released had a unique and luxurious package, with a different cover and digital downloads of the songs. This was a limited edition, it was not produced again, which means that its value grows as time goes by.

Cryptographic paintings

If we talk about pictures and paintings, in the year 2021, it was opened in New York, which is the first physical space in the world made exclusively to exhibit cryptographic works of art.

For artists it is much more convenient to work with NFT art than to follow the traditional path, since NFTs are 100% digital elements that only exist in digital wallets on a blockchain, also the ease of access to cryptographic art is much greater (since it can be accessed from the comfort of your own home).

If we talk about the traditional art market, it was based on tours of galleries, auctions of works of art, among other elements that generated profits. Now with NFTs people who are dedicated to the art found the opportunity to market their art safely and well paid. But artists are not the only ones to benefit in this context, collectors are too, because they can know with certainty the authenticity of what they are buying.

The future has arrived and we don’t want you to be left behind!

You can see our posts related to this topic on our Instagram, LinkedIn, Tik tok and here on our website!

Source: The Bull & Bear

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