Decoding about NFT
In the latest clip posted on his personal page, billionaire Elon Musk suddenly joined the NFT (Non Fungible Token) trend, with the “offering” of an electronic music clip (EDM) produced by Tesla.
“I’m going to sell the NFT piece in the NFT format,” Elon Musk describes the piece as “Vanity Trophy” — based on the image that appears inside the clip.
After just a few hours, on the NFT Valuables exchange, the tweet containing Elon Musk’s music is being bid up to $1.12 million. However, the American billionaire has not announced the starting price of this electronic music.
And NFT is mentioned by many international newspapers, with a rating as a new “craze” after Bitcoin. (description paragraph)
What is NFT?
NFT is a form of virtual item that is authenticated by blockchain technology, with the digital signature of the owner — also known as the NFT code chain.
Although it has no tangible value, the NFT code possesses the same properties of Bitcoin as it is stored on the blockchain, is indestructible, and cannot be replicated — meaning it is unique.
As a result, NFT investors will regain exclusive ownership when they buy, sell and collect rare and high-value items. Once certified by the NFT codestream, the item becomes unique.
NFT transactions are also pretty straightforward. Buyers, after paying, will receive a string of letters and numbers, along with a JPG file of the product. This code will be saved on the Ethereum blockchain, then transferred to the user’s personal electronic wallet.
Potential of NFT
No coin can make a record profit of 100,000% in 3 days like NFT painting “Trump’’ from Hash Masks. The scarcity of exotic NFTs has incredible upside potential.
Blockchain technology allows collectibles 4.0 to be more transparent and convenient. You can trace the origin and confirm the owner of the painting with just a few simple mouse clicks. Even its transaction history is recorded on the chain. The fake counterfeiting factor has been completely eliminated.
The tokenization of on-chain assets opens up the ability to store more safely, securely and efficiently than traditional collectibles. The proof is that reputable auctioneers like Christie’s are offering the first NFTs. Best of all, the benefits of cross-border payments in cryptocurrencies will result in lower transaction costs and shorter waiting times than traditional methods.
A new NFT marketplace
Tiara is a NFT marketplace that allows users to mint, sell, and create collectibles and leverage NFTs on the Binance Smart Chain. The platform wishes to provide an ecosystem of services through an easy-to-use interface, connecting the community while allowing full transparency and traceability of collectibles. At first thought, this might seem a little far-fetched and difficult to actualize but given the right partnerships and the right community, this is definitely achievable.
Currently, Tiara is working with three Korean partners including a game company, a virtual currency exchange and an e-commerce platform to go public after the end of the ICO process.
More information you can see at:
Web: http://tiaranft.com/
Fanpage: https://www.facebook.com/Tiara-108369081395171/
Twitter: https://twitter.com/Tiara00944827?s=09
Youtube: https://www.youtube.com/channel/UCggGxhv65NGkFH3op2Oczog
Telegram channel: https://t.me/Tiaranft
Group telegram chat: https://t.me/tiaranftmarketplace
