NFT’s Explained: What They Are & Why They Became So Popular.
What Are NFTs?
Non-fungible tokens, or NFTs are cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other. They can not be replicated. NFTs can represent intangible assets with intrinsic value – e.g. digitally signed electronic art, digitally signed electronic books & manuscripts, etc. It is the combination of the digital signature and the intrinsic value of the NFT itself which makes each NFT unique.
Why Have They Become Popular?
Why have NFTs become so popular? Proponents of them say they fix a big problem with the internet, which is artists not getting paid for the distribution of their content online. For sellers, NFTs make it not only possible to sell something today, but also to keep earning in the future. Artists in particular have struggled to earn rewards if their work appreciates in value. NFTs can be coded to allow the original creator to collect money each time the token moves hands.
As industry-leading legal consultants specializing in cryptocurrency and blockchain technology, Exemplar Companies is connected with the latest developments in the world of digital assets.
No Hourly Bill, No Hourly Bull.
In business, nobody likes surprises. When it comes to professional service firms billing by the hour, there are far too many unpredictable and surprise bills that can cause issues between the service provider and the client.
Value-based pricing is the practice of setting the price of a service to the value received by the customer. Value-based pricing could easily be called “customer-based pricing” because that’s essentially what it is. It removes the above concerns and tensions that could arise between client and provider.
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