Unlocking NFT Value on HootDex
Understanding the pros, cons and purpose of a non-fungible token “NFT” is important to understand. Firstly an NFT is much different than a cryptocurrency such as Bitcoin, Ethereum or Pecu Novus, cryptocurrencies are considered an asset class whereas an NFT is a representation of ownership of a digital or physical asset, similar to deed to a home or title to a car.
NFTs minted on other blockchain networks may not carry the same vetting process as ones minted on the Pecu Novus Blockchain Network, this is a key factor. Since the boom of the NFT market there have been many schemes, pump & dumps and other nefarious things that have taken place. Make no mistake that on the flip side many legitimate and valuable NFT projects have surfaced as well.
The vetting process is what actually protects the general public and this is why only NFTs minted on the Pecu Novus Blockchain Network can be listed on HootDex or the FortisAB Marketplace. This allows for HootDex members to view projects with confidence and not wonder if an NFT is legitimate or not.
With that said, there is a lot of value that can be unlocked with NFT’s as they can represent a number of things such as:
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Art, Photography
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Music
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Gaming
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Real Estate
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Collectibles
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Trading Cards and the list goes on.