Limited Edition NFTs
What is an NFT?
You may have heard the word “NFT” being used quite a bit lately. Many of us are scratching our heads thinking “what the HECK is an NFT?”
NFT stands for Non-Fungible Token and they’re essentially digital assets. Don’t worry - we’ll explain.
Let’s take the first two letters- think of the word “Fungible” as “Replaceable”. So if something is “Non-Fungible”, it means it cannot be replaced.
For example, the Mona Lisa is non-fungible because it can’t be replicated - there is only one. Sure, other artists can create copies that are like it, but there will always be one original Mona Lisa.
What is a Fungible Token?
Now, if something is “Fungible”, it means that it can be replaced or replicated.
Take, for example, a 6-foot tall cat tree. Cat trees are built in factories in large quantities and distributed to stores across the globe - they are not unique or original in any way unless of course your cat decides it ONLY wants that particular tree forever and ever, but we already know they prefer the box it comes in. ;)
What does “Token” Mean in NFT?
Now you may be thinking, what does the token mean in Non-Fungible Token? Tokens, in this context, are a unit of cryptocurrency. Let me explain:
Bitcoin is a fungible token (replaceable cryptocurrency). One unit of Bitcoin is not unique to another unit of Bitcoin. Just like dollar bills, there is no one original or unique version of it. The value is within the quantity, not the specific token.
NFTs are digital pieces of art. They can come in the form of cartoons, GIFs, music, videos, JPEGS, online trading cards, etc. There is just one of them - it cannot be replaced.
How do I sell my NFTs?
If you have digital art/assets you’d like to sell, you can put it on the blockchain. Think of the blockchain like an online ledger that holds all the certificates of authenticity in its database.
Once your digital asset is on the blockchain, it is unique and cannot be replicated. It will remain verifiable and eliminate any risk of fraud or duplication.
Also, check out this step-by-step guide on how to create and sell NFTs.
Why should I buy an NFT?
Okay so now you know what an NFT is, but you’re wondering WHY you should even invest in it. Fair question - I’m sure the people who were debating on buying Bitcoin asked the same thing….and look how that turned out!
It’s fair to note that online artists, sellers, and investors are already successfully selling, buying, and trading NFTs online.
For example, the famous flying Pop-Tart feline “Nyan Cat” was sold for $600,000. If that shocks you, the total value of NFT sales in quarter 1 of 2021 was $2 billion. Here are a few reasons why you may want to invest:
This is a crazy moment in time where we’re at the beginning stages of this new innovative technology. NFTs and the blockchain are here to stay. As more and more people begin to learn about this digital revolution, more will enter the NFT investing playing field, increasing the value for trading.
Since NFTs are unique and there can only be one, this creates scarcity. Just like we learned in our Economics 101 course, when something is scarce, it retains a higher value.
They’re collectibles! We all know how it goes for Pokemon cards - to this day they are worth a ton of money. Once you invest in an NFT, it’s yours. Whether you want to keep it or sell it is up to you.
Why buy PETSANIA’s NFT?
They’re limited editions (only 10 unique pieces of art)
Original (adorable) minted designs
10% will be donated right away (this includes royalties as other investors trade)
The value will increase over time so that YOU can make money off of it too!
We have a brand to back it up