Be Vigilant About Scams That Are Associated With NFTs

A non-fungible token (NFT) is a cryptographically unique token that is kept on the blockchain, a platform for distributed ledger technology (DLT). If you’ve been active on social media or have kept up with the news in the past few years, you’ve probably heard of non-fungible tokens (NFTs). NFTs routinely generate headlines and have been sold for millions of dollars, regardless of your opinion on whether they present fantastic prospects for artists and investors or are just a passing fad.

Like cryptocurrencies, NFTs are collectible digital commodities that can comprise anything from artwork to music to films to memes to pictures of tweets. Twitter CEO Jack Dorsey, for instance, sold his very first tweet for $2.9 million. Since NFTs are still a relatively new technology, there is a lot of misunderstanding and disagreement regarding their nature, operation, and acquisition. You will learn everything you need to know about NFTs, the technology that powers them, how to safely store your NFTs, and how to stay up to date using a variety of sources in this thorough book.

Several Types of Scams

Both the public’s view of NFTs and the prevalence of the related scams are rising. Here are six NFT scams to watch out for and stay away from.