Trading platforms for digital collectables

Abstract

The first thing that stands out in the hundreds of stories about NFTs is that they are displayed as conventional files, including animations, photographs, texts, tweets, and audio. You could thus just down load them and have the exact same file as all of those N FTs that have been sold for millions of dollars. So, why would anyone pay as much for them as Beeple's EVERYDAY: THE FIRST 5000 DAYS N FT, which sold for $69 million? This seems to be the natural question. They don't even automatically grant copyright protection, after all. Understanding what NFTs are and why they are valuable can help one to respond to that question. This is what we have addressed, analyzed and presented in this report. We have researched about NFTs, their value, importance for manufacturers, artists and customers, ways of dealing with NFTs, platforms available like OpenSea, Rarible, manufacturers like Larvalabs and how one can auction/sell NFTs on these platforms. We have also focused on the quality and safety of N FTs and the owner's/platform's mora I and personal rights. This report also includes how a user can ensure the quality of NFTs they are dealing with and how an artist- as a beginner or famouscan ensure that their art is not replicated or misvalued.