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NFTs are good for business — and here’s why

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If you are battling to understand NFTs or if you are one of many marketers who think they’re just a geeky gimmick, this is the practical application guide you’ve been waiting for

to give us the low-down on whether this latest craze is a hit or miss. The short answer is: it’s a hit. Here are three reasons why.The main argument in favour of NFTs being BS is: “People pay stupid money to own NFTs because they’re supposedly unique. Well, I right-clicked your little picture, saved to desktop and boom! I own it now too. For free.” Yeah, only you don’t. You see, NFTs are minted on the blockchain.

NFTs don’t just exist as quirky profile pics for Twitter super-users — they can cross over into the real worldSo now that we know NFTs are real, the question is, why do people want them? And that comes down to human behaviour and how we assign value to things.Some people want them because they’re rare — the same reason they’ll buy limited-edition sneakers.

 

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