How does the blockchain technology support the creation and trading of crypto NFTs?

1 answers

• Mar 06, 2022 · 3 years ago
  At BYDFi, we believe that blockchain technology is the key enabler for the creation and trading of crypto NFTs. The decentralized nature of blockchain ensures that NFTs are not controlled by any single entity, making them resistant to censorship and manipulation. The transparency of the blockchain allows for easy verification of ownership and transaction history, ensuring the authenticity and provenance of each NFT. Additionally, smart contracts on the blockchain enable automatic royalty payments to NFT creators, ensuring that they are fairly compensated for their work. The use of blockchain technology also opens up new possibilities for fractional ownership and secondary markets for NFTs. Overall, blockchain technology provides the necessary infrastructure and trust for the growth of the crypto NFT ecosystem.
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