NFT: Art, Hype or New Reality?

“The property remains publicly available,

the creator receives a financial reward,

and the buyer gets pride in owning it.”

The digital art market has seen a boom in tokenization as it is the easiest way to demonstrate the possibility of transferring ownership of assets through decentralized exchanges. Along with this, there are many new CryptoArt artists who want to become millionaires by painting any picture or animation. With the multitude of digital art offerings and the increased attention given to the NFT market by speculators, problems arise in the form of a revaluation of “art” (link to our publication on revaluation).

Examples of recent absurd cases of buying and selling NFTs:

🔹The most expensive NFT token was the work of the artist Beeple — he sold his digital collage of five thousand drawings for $ 69 million, paying the auction house $ 9 million in commission.

🔹A Banksy painting purchased from a New York gallery was burned and turned into an NFT token, which was sold as a digital copy at auction for 228.69 ETH (~ $ 380,000 at the time of the transaction).

🔹Unknown user purchased NFT CryptoPunk 7804 for 4200 ETH ($ 7.5 million).

We believe that the popularity of NFTs stems from the attraction of commodity liquidity to the crypto market, digital ownership, and the increased use of enhanced Qualified Electronic Signatures in distance trading. All of these factors are driving the development of new smart contracts and trading protocols that are directly related to NFT and decentralized trading.

Digital property rights and electronic signatures in trade enhance the status, security, speed, flexibility, and accuracy of a transaction. This is certainly an attractive aspect for clients because there is now the possibility of remotely purchasing real estate, cars, and other high-value items that require a legal basis to transfer ownership without leaving their comfortable home chair.

Here is an example of the demand for remote ownership of the real estate.

💰 Sberbank, the largest transnational and universal bank in Russia, Central, and Eastern Europe, for the first time in the Russian Federation, issued a mortgage loan for the purchase of housing on the secondary market without a buyer and seller visiting the bank, all documents were signed by the participants in the transaction with electronic signatures.

Previously, buying real estate required only one visit to the bank — signing documents — the rest of the mortgage services and expert advice were already available online. Now you can apply for a mortgage, choose housing, sign documents, register ownership and make settlements remotely without visiting a bank.

NFT is the new reality of a decentralized economy and trade that will grow with the demand for tokenized property rights. The progressive growth of NFT users is a reason for neatness, as a significant number of participants find easy profit in art sales. Choosing the right trading platform for working with NFT will help you avoid falling into the trap.

The Barter Smartplace platform provides the ability to create NFTs for both digital items and tokenize real goods and host them for barter, auction, and direct trading. We have created a smart contract and a trading protocol that carry out all the necessary actions to conclude a transaction and monitor the implementation of established agreements between participants. The platform is international and deals are made instantly around the world with low fees. If Beeple were to sell his art on Smartplace, it would only cost $ 12,000 (0.02%) in BRTR tokens instead of the $ 9 million the auction house earned from the sale.

Become our member on the most favorable terms: commissions of only 0.02%, bonuses to members of the t.me/barterteam chat in the form of regular profit for participating in contests. And also, using t.me/barterwalletbot will help to stake and exchange not only BRTR tokens but also DOGE tokens.

Grow together with Barter Smartplace: https://barter.company/ 🚀

Join the community: http://t.me/barterteam

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