Misconceptions about the NFTs

Photo by Tim Mossholder on Unsplash

When you hear about NFTs, you immediately feel they will make you rich overnight.

At least NFTs sold in 2021 was crazy.

Why do people own NFTs?

There are many reasons, but four major ones stand out:

✅ to access exclusive perks

✅ to profit

✅ to preserve the value

✅ to secure digital ownership and rights

But, it does not explain what I owned when I purchased the NFTs.

You are correct, and that is the beauty of owning an NFT! It is a very blur boundary between owning and having.

So what do you actually own?

A JPEGs

Even though people believe that NFTs are Non-fungible Tokens that cannot be replicated through code, the artwork that the code carries on can be duplicated.