If you are a crypto enthusiast, it is a given that you must have come across the term “NFT” (Non-Fungible Token). If somehow missed, NFT is the phenomenon that caused the extravagant sale of $69 million in March 2021. It is a unit of data that runs on Blockchain technology and is stored on the same network.
The NFTs are used by the creators to represent real-time assets such as music, paintings, and even real estate on blockchain technology. NFT creators have strong control over the number of NFTs they issue, as well as the right to sell the NFTs in their preferred marketplace. A smart contract is used to acquire ownership of an NFT when it is purchased. The basis of Blockchain technology’s automation is a smart contract. It’s a digital code that enables asset transfers without any intermediary.
LCX has launched its own NFT called Tiamonds NFT. Tiamonds represent the ownership of real-world diamonds, and they are the largest marketplace for diamond NFTs powered by Blockchain worldwide. LCX allows you to store, buy, or sell these NFTs easily. The physical diamonds are well-stored in a secure vault in the country of Liechtenstein. All the diamonds are certified, and LCX is a regulated platform, thus making it a reliable marketplace for trading NFTs.
Some NFTs are auctioned off for millions of dollars, while others are sold for $100. This makes one wonder about the possibilities for the success of NFTs and the benefits associated with them.
NFTs have a bigger vision than just being a market asset. Its goal is to develop into a method for controlling and managing sensitive and confidential data about a corporation or an individual. Its originality and authenticity make it valuable and long-lasting, but to get the most out of it, one must invest in the correct NFTs and have the right information about it.
LCX AG is a company founded in 2018 and registered in Liechtenstein No. FL-0002.580.678-2. LCX AG is regulated by the Financial Market Authority of Liechtenstein under the registration No. 288159 as a trusted technology service provider.
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