{"id":2788,"date":"2024-02-09T18:15:33","date_gmt":"2024-02-09T18:15:33","guid":{"rendered":"https:\/\/usecyan.com\/articles\/?p=2788"},"modified":"2024-04-17T02:42:08","modified_gmt":"2024-04-17T02:42:08","slug":"why-would-someone-ever-buy-nft","status":"publish","type":"post","link":"https:\/\/usecyan.com\/articles\/why-would-someone-ever-buy-nft\/","title":{"rendered":"Why Would Someone Buy NFTs in 2024? 5 Lucrative Reasons"},"content":{"rendered":"\n<p>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 <a href=\"https:\/\/usecyan.com\"><strong>buy <\/strong><\/a><strong><a href=\"https:\/\/usecyan.com\">NFTs<\/a> <\/strong>on deferred payments.<\/p>\n\n\n\n<p>Due to all these advantages, in 2023 alone, nearly <a href=\"https:\/\/blockworks.co\/news\/nft-trading-volumes-fall-from-2022\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">$12 billion<\/a> worth of NFTs were sold.<\/p>\n\n\n\n<p>Here&#8217;s a down-to-earth explanation of why NFTs are awesome and why the world is buying more and more of these assets.<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li ><a href=\"#1-buying-and-selling-made-simple\">1. Buying and Selling Made Simple<\/a><\/li><li ><a href=\"#2-easy-to-authenticate\">2. Easy to Authenticate<\/a><\/li><li ><a href=\"#3-loans-on-your-art\">3. Loans on Your Art<\/a><\/li><li ><a href=\"#4-easy-to-share-and-re-sell\">4. Easy to Share and Re-Sell<\/a><\/li><li ><a href=\"#5-safe-and-secure-ownership\">5. Safe and Secure Ownership<\/a><\/li><li ><a href=\"#wrapping-it-up\">Wrapping It Up<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1-buying-and-selling-made-simple\">1. Buying and Selling Made Simple<\/h2>\n\n\n\n<p>Imagine being able to buy or sell a piece of art as easily as downloading an app on your phone. That&#8217;s what NFT art is like! You don&#8217;t have to deal with the hassle of negotiating, payment confirmation, or waiting for ages to make a deal. <\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Even for a novice buyer, we have seen that purchasing an NFT hardly takes a minute.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-easy-to-authenticate\">2. Easy to Authenticate<\/h2>\n\n\n\n<p>Ever worry about buying a fake? <\/p>\n\n\n\n<p>With NFT, you can buy them and just chill. Each NFT is easily verifiable on the blockchain that proves it&#8217;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&#8217;s authentic. Thanks to blockchain technology, which makes NFTs a super secure deal and keeps everything transparent and tamper-proof.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3-loans-on-your-art\">3. Loans on Your Art<\/h2>\n\n\n\n<p>Here&#8217;s something cool: you can get loans using your NFT art as collateral. <\/p>\n\n\n\n<p>Yep, NFT marketplaces like <strong><a href=\"https:\/\/usecyan.com\">CYAN<\/a> <\/strong>let you borrow money by promising your NFT as security. It&#8217;s a neat way to get some cash without having to sell your beloved digital art.<\/p>\n\n\n\n<p>The CYAN Marketplace also features a Buy Now, Pay Later program that helps you pay for your NFT in multiple transactions.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img data-dominant-color=\"1d272a\" data-has-transparency=\"true\" style=\"--dominant-color: #1d272a;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"282\" src=\"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-14-1024x282.png\" alt=\"Buy NFTs with Pay Later on CYAN Marketplace\" class=\"has-transparency wp-image-2797\" srcset=\"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-14-1024x282.png 1024w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-14-300x83.png 300w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-14-768x211.png 768w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-14-1536x423.png 1536w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-14.png 1656w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Buy Now Pay Later on CYAN Marketplace<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"4-easy-to-share-and-re-sell\">4. Easy to Share and Re-Sell<\/h2>\n\n\n\n<p>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&#8217;s super easy to pass it on to the next owner and maybe even make some profit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"5-safe-and-secure-ownership\">5. Safe and Secure Ownership<\/h2>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Though there have been cases where blockchain assets have been stolen, but these mistakes happen mainly due to human error.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/usecyan.com\" target=\"_blank\" rel=\"noreferrer noopener\">Buying NFTs<\/a><\/strong> 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.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img data-dominant-color=\"e0ced0\" data-has-transparency=\"false\" style=\"--dominant-color: #e0ced0;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"669\" src=\"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/01\/cyanshoptableview-1024x669.png\" alt=\"Sorting and Filtering in Cyan's NFT Shop\" class=\"not-transparent wp-image-2612\" srcset=\"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/01\/cyanshoptableview-1024x669.png 1024w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/01\/cyanshoptableview-300x196.png 300w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/01\/cyanshoptableview-768x502.png 768w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/01\/cyanshoptableview-1536x1003.png 1536w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/01\/cyanshoptableview-2048x1338.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Sorting and Filtering between NFTs in Cyan&#8217;s NFT Marketplace<\/em><\/strong><\/figcaption><\/figure><\/div>\n\n\n<ul>\n<li><strong>Connecting Wallet<\/strong>: No account creation needed; users can connect their wallets directly via the \u201cConnect Wallet\u201d option, supporting MetaMask, Wallet Connect, Unstoppable Domains, Rainbow, and Rabbit.<\/li>\n\n\n\n<li><strong>Buying Process<\/strong>:\n<ul>\n<li>Wallet connection not required for browsing the Shop page.<\/li>\n\n\n\n<li>Over 107 Ethereum and 10 Polygon collections available for browsing in grid or list view.<\/li>\n\n\n\n<li>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.<\/li>\n\n\n\n<li>Automatic Repayments deduct funds from either the user&#8217;s wallet or a Cyan Wallet, where NFTs on loan are held.<\/li>\n\n\n\n<li>A Cyan Wallet is created upon the first purchase or loan, where purchased NFTs are stored until the loan is repaid.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p>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.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-dominant-color=\"6d6c69\" data-has-transparency=\"true\" style=\"--dominant-color: #6d6c69;\" loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"719\" src=\"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-12.png\" alt=\"\" class=\"has-transparency wp-image-2794\" srcset=\"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-12.png 1024w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-12-300x211.png 300w, https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/image-12-768x539.png 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"wrapping-it-up\">Wrapping It Up<\/h2>\n\n\n\n<p>NFT art is more than just a trend; it&#8217;s a whole new way to experience, buy, and sell art in the digital age. It&#8217;s all about making things easier, safer, and more fun for everyone involved. Whether you&#8217;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. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The race to own digital assets, a desire to earn high profits and some lucrative payment options make NFTs a desirable buy in 2024.<\/p>\n","protected":false},"author":2,"featured_media":3048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/usecyan.com\/articles\/wp-content\/uploads\/2024\/02\/Cyan-Why-Would-Someone-Buy-NFTs-in-2024-5-Lucrative-Reasons-usecyan.com-\u2013-8.png","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/posts\/2788"}],"collection":[{"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/comments?post=2788"}],"version-history":[{"count":5,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/posts\/2788\/revisions"}],"predecessor-version":[{"id":3049,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/posts\/2788\/revisions\/3049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/media\/3048"}],"wp:attachment":[{"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/media?parent=2788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/categories?post=2788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usecyan.com\/articles\/wp-json\/wp\/v2\/tags?post=2788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}