Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => NFTs & Collectibles => Topic started by: martinnura on March 17, 2023, 07:48:46 AM

Title: What gives an NFT its value?
Post by: martinnura on March 17, 2023, 07:48:46 AM

There are several factors that contribute to an NFT’s value. Of course, you have the value that comes with the creator. An NFT of a high-profile celebrity would definitely be more valued. And you also have the value of the underlying asset itself that determines the token’s value. The utility an NFT provides you with is also a major deciding factor. When it comes to an NFT collection listed on an NFT marketplace for digital collectibles, an important determinant is how rare an NFT is or how rare certain attributes are.

Title: Re: What gives an NFT its value?
Post by: OpenCEX on March 17, 2023, 07:17:17 PM

NFTs can be pretty valuable in a couple of ways. Apart from being investment instruments with high-profit potential, they’re also used to establish identity, community, and ownership. Some people buy NFTs to support artists, and the artists often earn more from this since they profit directly from their works without intermediaries.
As a new form of collectible, NFTs are digital upgrades to items like arts, comic books, posters, sports cards, etc., attracting many to buy NFTs not because of any monetary gain they expect but because of the other values they have. Sometimes the value could be in the form of exclusive access to events, for gaming purposes, or some just buy it for the novelty of it.