What is NFT art?

Buying an NFT Artwork is a virtual version of that, with the buyer keeping the digital asset in their digital possession. Now for the more technical explanation. NFT stands for non-fungible token. Non-fungible tokens contain identifying information recorded in their smart contracts.

What was digital art before NFTS?

Before NFTs, the idea of owning digital artwork didn’t exist. Designers and artists could repurpose or repost their works but there was no opportunity to assume complete ownership of the work. NFTs allow creators to sell their original works and display them as they wish.

What is nftfi and how does it work?

NFTfi is a place where NFTs are used as collateralized loans. Owners of NFTs can put up their assets as collateral for a loan or provide loans to other NFT owners on their NFTs. Using NFTs as loan collateral, especially considering the value of many NFTs is just as helpful as using a car or house.

What is the most expensive NFT art?

Genesis was nominated for the Best NFT Art award at the NFT Awards (yup, that's a thing now), and it sold for $111,377 – the most expensive piece of NFT art at the time. But, more than the price tag, we enjoy the merging of superheroes with digital art.