NFT FAQS

NFT FAQS

What is an NFT?

A non-fungible token. 

Non-fungible means that it's unique and can't be replaced with something else or duplicated. Think of it like a one-of-a-kind trading card.

NFTs most commonly come in the form of digital art or music.

NFTs provide a means for creatives to be compensated for their work. Web 2.0 damaged the creator economy by making our creations sharable without compensation. By purchasing an NFT, you are supporting the artists, as well as the future of a healthier, fairer digital economy on Web 3.0.


Why buy NFTs?

They are an investment. When you own an NFT, you own the artwork and each NFT has a unique digital signature on the blockchain that proves ownership and acts as a certificate of authenticity. 

This digital signature allows each NFT to be unique and traceable, preventing fakes and creating value for each single piece you own. 

NFT’s can then be traded on the secondary market on marketplaces such as OpenSea. 


How do NFTs help artists?

NFTs help artists in a number of ways.

Digital art can easily and endlessly be duplicated, without credit or compensation to the artist that created it. In traditional art, artists only receive payment when the piece is first purchased, and oftentimes art collectors go and sell that piece for much more than what they originally paid the artist for it. 

NFTs allow creators to receive payment not just on the first sale of a piece, but they also receive a portion of sales every time that NFT is bought and sold in the future. If Van Gogh was creating NFTs, every time one of his artworks changes hands today, he would receive compensation. 

Artists don’t get paid when you like or share their post on social media, but they do when you support them by purchasing one of their NFTs. 


How do I purchase an NFT? 

You purchase them on an NFT marketplace or a website that offers them for sale. 

We chose to launch our first NFT project on Nifty Gateway because it makes the process easy by allowing you to purchase NFTs with a credit card, no cryptocurrency needed. 


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