NFTs make it super simple and cool for people to buy, sell, and own assets in the digital space. It also allows users to collect these digital assets as investment and sell them at higher prices. Furthermore, unlike traditional art, you can buy NFTs on deferred payments.
Due to all these advantages, in 2023 alone, nearly $12 billion worth of NFTs were sold.
Here’s a down-to-earth explanation of why NFTs are awesome and why the world is buying more and more of these assets.
Table of Contents
1. Buying and Selling Made Simple
Imagine being able to buy or sell a piece of art as easily as downloading an app on your phone. That’s what NFT art is like! You don’t have to deal with the hassle of negotiating, payment confirmation, or waiting for ages to make a deal.
All of these can be done within a single step where you just have to connect your wallet and sign a transaction. NFTs can be traded on various online platforms with just a few clicks. This accessibility significantly reduces the time it takes to complete a sale, allowing for transactions to be made on short notice.
Even for a novice buyer, we have seen that purchasing an NFT hardly takes a minute.
2. Easy to Authenticate
Ever worry about buying a fake?
With NFT, you can buy them and just chill. Each NFT is easily verifiable on the blockchain that proves it’s the real thing. These records are updated every time the art changes hands, so you can easily check out its history and know for sure it’s authentic. Thanks to blockchain technology, which makes NFTs a super secure deal and keeps everything transparent and tamper-proof.
3. Loans on Your Art
Here’s something cool: you can get loans using your NFT art as collateral.
Yep, NFT marketplaces like CYAN let you borrow money by promising your NFT as security. It’s a neat way to get some cash without having to sell your beloved digital art.
The CYAN Marketplace also features a Buy Now, Pay Later program that helps you pay for your NFT in multiple transactions.
4. Easy to Share and Re-Sell
NFTs are a dream come true for artists and buyers when it comes to sharing and reselling art. Artists can get their work out there to the whole world without a middleman, using the internet and social media. And if you buy an NFT and decide to sell it later, it’s super easy to pass it on to the next owner and maybe even make some profit.
5. Safe and Secure Ownership
Owning an NFT is a super secure deal. Since these tokens are on blockchain, they can neither be stolen, nor counterfeited. When an artist creates an NFT, their copyright and ownership details are embedded right into the blockchain.
Though there have been cases where blockchain assets have been stolen, but these mistakes happen mainly due to human error.
Buying NFTs on CYAN is a simple 2 step process. We have made it super simple to buy NFTs on our website. You just need to connect wallet and approve the transaction.
- Connecting Wallet: No account creation needed; users can connect their wallets directly via the “Connect Wallet” option, supporting MetaMask, Wallet Connect, Unstoppable Domains, Rainbow, and Rabbit.
- Buying Process:
- Wallet connection not required for browsing the Shop page.
- Over 107 Ethereum and 10 Polygon collections available for browsing in grid or list view.
- Filters help select desired traits and pricing. Selecting an NFT opens financing terms for down payment and loan duration, with an option for automatic repayments.
- Automatic Repayments deduct funds from either the user’s wallet or a Cyan Wallet, where NFTs on loan are held.
- A Cyan Wallet is created upon the first purchase or loan, where purchased NFTs are stored until the loan is repaid.
CYAN also features easy NFT Loans (a.k.a. Buy Now, Pay Later) that help you pay for your purchases in multiple transactions and also allows users to sell the NFTs in just 1 click if they do not want the loan repayments anymore.
Wrapping It Up
NFT art is more than just a trend; it’s a whole new way to experience, buy, and sell art in the digital age. It’s all about making things easier, safer, and more fun for everyone involved. Whether you’re an artist looking to share your work with the world or a collector on the hunt for something unique, NFTs open up a world of possibilities.