Is it possible to earn by selling NFT?

 

Is it possible to earn by selling NFT?
There has been a lot of buzz about NFTs online. Some are profiting from NFT trading without realizing it. Again, many people may be in harm's way by falling into this craze. What is the real income from selling these NFTs? Whether or how income improves is actually a matter of deep research.

How is profit and loss?
NFT trading can be profitable if you are lucky. Profitability in this case depends on type of NFT, popularity of NFT, investment in NFT at right time. It's like gambling in a casino.

What types of files are popular as NFT?
Images, videos, video game special characters, digital art etc. can be NFT. But the uninitiated say that still images are more popular. And NFT market analysis also says so.

What are the characteristics of NFT?
In NFT, each file has its own serial number. And the ownership information of that serial number is stored through blockchain. Due to this, ownership can be verified easily. Due to which there is no chance of fraud in buying and selling NFT files. Therefore, NFTs can be created, sold and bought easily in the online market. So, there is a lot of gathering of buyers and sellers in this market.

Who is selling NFT in NFT market?
Usually, artists are choosing NFT market to sell their digital art. Not only artists, but many people are also profiting by buying NFTs at low prices and selling them at high prices. There may be some examples where people are benefiting but the number is still very small. Artists in NFT market are presenting their pictures in NFT market but the sales are very low. There are many examples of NFTs being bought at high prices and then making losses.

How is the price of NFT determined?
The price of NFT in the market is determined by the thoughts of the buyers. There is no method to determine the exact price. The price is determined on the basis of buyers and sellers. There is nothing in the NFT market where you have to go through a price determination process to sell anything or an artefact. If a celebrity promotes an NFT, its price goes up for no reason.

Is investing in NFT safe?
NFT is a new platform. It is still under review. So, if you want to invest in NFT, it would be wise to invest a little carefully. Security issues need to be taken into consideration with NFT technology. And how its value is determined also needs to have a special way. Digital content creators, artists should not rely on NFT market yet. However, it may turn into a solid position at some point, so tread very carefully with NFTs.