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5 Reasons Why NFT Is So Expensive Up To Millions Of Dollars

cause nft is expensive
Reasons for Expensive NFT in the Bitcoin Market

NFT fever, that’s how it’s called for what is happening recently, the latest trend is to collect digital works from various artists from different backgrounds, coming together into a blockchain market-based platform with the nuances of art presented in it.

Thousands, even millions of art are displayed in such a way by professional artists in their fields, to be able to own and collect these products, one does not need to spend the space of their house building as a display area, but the price is quite exorbitant if you want one.

Unmitigated, one of the most expensive digital works has touched the price of trillions of rupiah, that’s what happened in 2022 ago, when The Merge set its record as the most expensive NFT sold at a price of 1.3 trillion rupiah, followed by other NFTs with fantastic values. , such as “Everydays: The First 5000 Days”, Jack Dorsey’s Tweet “Just Setting Up My Twttr”, in Indonesia there is Ghozali Everyday with a collection of selfie photos from 2022 to 2022.

All of these digital works have in fact succeeded in reaping billions of rupiah in profits which might make us think whether this is luck or a miracle. But actually this is the reason why NFT is so expensive in the Blockchain market:

The authenticity of an item is one of the determining factors for the price of the item. In the NFT Market, all products sold are accompanied by their own unique code as a license, so they can be easily identified in the event of duplication from irresponsible parties.

Rare items are indeed hunted by those who like to collect works, the rarer an item is, the more unique the object’s existence is, this is also a factor that causes a drastic increase in the value of a product.

NFT is a rare product, has a limited amount, that’s what makes the price so high in the market.

  • Created Directly by Famous Artists

It’s no secret that well-known artists have such a strong brand, even if this is so strong it will affect the value of the work they produce.

  • The manufacturing process is very complicated

For an artist, ink strokes have their own meaning. For a high-level work of art, they usually take a long time, there is a complicated process to go through. The more complicated the process, the higher the value. This is also what ultimately determines the selling price in the market.

Regardless of the form of a work of art, there is always a message that has been inserted there, as well as NFT, as a digital art created by artists from all over the world. In fact, a professional artist is required to have the ability to read the implicit message of a work of art.

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