NFT art is a digitalized piece of artwork that a person has tokenized onto a blockchain. These digital files do not have physical copies; instead, they exist solely in the digital universe where investors and art collectors can buy and sell them.
Before the dawning of NFT art, it was easy for digital art files to circulate on the web without clear ownership; however, NFT art is nontransferable, which creates scarcity and establishes ownership. Like with physical art, anyone can buy a reprint of a famous NFT, but only one person has legal ownership of the original NFT, making it a rare possession.
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