CRYPTO ACADEMY WEEK 10-HOMEWORK TASK FOR [@levycore]|| An Introduction to Non-Fungible Tokens (NFTs)|

Greetings to all steemians, A privilege to do my home task in week 10.
Firstly, Words cant express how knowledge i am after going through the class by professor @levycore a big kudos to you on your appointment in steemitcryptoacademy.

HOMEWORK TASK:

Describe one popular project that uses NFT

Writing basically to my understanding and research about Non- Fungible Tokens [NFT].

NFT

NFTs are tokens that can represent any asset either digital or tokenized aspect of world assets. These tokens are unique and cannot be exchanged within themselves. They cant be divided, which means that there is no way to divide a token since it represents a set of properties as a unit to form a whole. They are carried out as proof of authenticity.

Technically

NFTs also stands as an image of ownership. Its owned by a person and secured by Ethereum blockchain.
Non-fungible is a term used in economic
aspect which are used to decribe your personal things due to unique properties.
Fungible items are itemes that can be exchanged cause of their unique properties.

For my Homework task I will be talking about SUPERRARE PROJECT

SUPERRARE PROJECT

SuperRare is a popular projects that uses the NON-FUNGIBLE TOKENS (NFTs) founded in 2017.

SuperRare is a market place where original artwork are tokenized and monetized as a digital asset by the artists. Uniquically, each artwork in SuperRare is designated an ERC-721 token which is secure and traceable on blockchain..

Artworks are certified on the Ethereum blockchain to avoid forgery. Artist that produce the Artwork can still display it on a digital gallery.

When the art work is displayed in SuperRare, Art collectors can buy it and keep for profit.
Amazingly,all the purchases are made in the Ethereum cryptocurrency (Ether) and the buyers will pay a fee for all purchase. Art collectors can always search the SuperRare gallery for beautiful and original works of art.

Artist makes money from the sale of Artwork. It is important to note that the artist do not only get money when the art work displayed on SuperRare,the artist also make additional money when the work is resold.

FEATURES OF SUPERRARE PROJECT

1. It serves as a online gallery for original and beautiful works of art .

2. Its displayed on the Ethereum blockchain.

3. It uses Ether as its cryptocurrency.

4. Transactions are traceable and transparent.

5. It is decentralized.

MERIT OF SUPERRARE TO ARTIST

1. It offers artist the avenue to showcase their artworks to other users .

2. It gives artists the opportunity to make money.

3. Gives artist a unique identity.

ARTIST STANDARD

1. Standardize/authenticate your artwork.

2. Price standard.

3. Promition of work .

4. Interaction with other artist.

COLLECTOR DUTY

1. Search for a online gallery.

2. Where to purchase.

3. Artwork Display

NON-FUNGIBLE Tokens (NFTs) is a token that can't be exchanged, its a unique and irreplaceable project.

Special Thanks To
@levycore