How should NFT be valued?
Keywords:Value; NFT; Worth.
NFTs are non-fungible, one-of-a-kind digital assets that are enabled by blockchain technology. Digital encrypted assets known as non-fungible tokens are one-of-a-kind, rare, and impossible to duplicate. A greater variety of use cases, including as digital art, domain names, gaming, collectibles, and others, have been observed recently for NFTs. On a blockchain, like Ethereum, NFTs are created (i.e., minted), and they can be used to confirm ownership of an asset (where it came from, who is the owner, etc.). Data from a joint analysis by Nonfungible.com and L' Atelier BNP Paribas indicates that 2020 In 2018, the overall market value of the NFT market was around $ 338,035,012 with an annual growth rate of 299%. This excludes wash trading and abandoned projects. Some NFTs cost millions of dollars, which is quite expensive. How can the value of NFTs be fairly honestly evaluated is a common question. Let's analyze the history of NFT's evolution before responding to this query.
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