What are the NFTS, and how are NFTs purchased and sold?




 Non-fungible tokens are unique; each token cannot be traded for another of the same type and value. They represent digital proof of ownership for individual items. 


As a result, their most important use cases involve assets that, before NFTs, were difficult to divide and transfer, such as art, rarities like vintage vehicles or rare wines, and intellectual property rights like song royalties.


Here's another use case: art collectors could desire to acquire priceless works of art but may not want to buy them outright. As fractional ownership is made possible by tokenizing art, many collectors can pool their money to invest.


Without the consent of other investors or transferring the actual piece itself, each investor may sell their token to another.


Furthermore, token holders can profit from owning the artwork while agreeing to have it kept in custody by someone qualified, such as an art gallery or a museum, thanks to blockchain technology's transparent and fraud-proof nature.


Read one to know more about the legal implications of NFTs by following the below link. 


Read the blog- https://www.centrolaw.ch/en/insights/detail/centro-law-guest-series-are-non-fungible-tokens-nfts-a-unique-investment-opportunity

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