Hello sir, What is the concept of NFTs (animation and emojis etc)? I have seen on social media that these NFTs are trading in millions of rupees.
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NFTs are non fungible tokens which are cryptographic artworks traded on blockchain network (most commonly Ethereum).
NFTs could be anything ranging from artworks to gifs. They are unique in the sense that they are non fungible ie they cannot be duplicated.
In real life, we only have one original painting of Mona Lisa. Owning that will be good because you in future its value is going to increase. Same is the stuff with NFTs. It’s just that these things are owned digitally and not in real.
Although some NFTs are trading at high levels of money, one should not extrapolate this hypothesis to all the NFTs. Infact as per one study the average price of all NFTs trading in the marketplace was found to be even less than 100$
But owning really good NFTs can be a good investment since it would be like owning the original Mona Lisa in digital format. Although people would be able to replicate it, it wouldn’t be the original which you have.