What is NFT Art Finance (NFTART)

Clear answer to “what is NFT Art Finance” is that NFT Art Finance is a new crypto currency! It uses Binance Smart chain to run all its code. At the core, the long-term aim of NFT Art Finance is to make a marketplace for artists all over the world to transact in NFTs. However, for now there is no tangible product released. But there are many alternatives developed based on Ethereum’s Blockchain.

NFTs are explained as “hyper deflationary”. However, hyper deflationary association seems to be a cover up to hide tokenomics strong similarity to the “pyramid scheme”. The idea is to encourage and reward holders. Whenever anyone sells NFTs they will be charged 10%, 5% of which is burnt and the other half is distributed in the community.

What is Hyper Deflationary Tokens?

The cryptocurrencies are witnessing a rise of a new trend, completely opposite to that of our traditional currencies such as USD, INR, SGD, GBP etc. As the hype and trend for cryptocurrencies is on the rise, more and more projects that are being introduced are adopting Hyper deflation. With the aim to promote enthusiast to not only buy NFTs but also to hold NFTs. In simple words, Hyper-deflationary tokens are designed to deflate instead of inflating, which is achieved using a token contract by burning a certain percentage of tokens on each transaction. Hence to avoid paying high transaction fees one will hold NFTs for as long as possible.

Brief History of NFT Art Finance

Since NFT Art Finance is a recent phenomenon, its history is quite brief. For now nothing considerable or noteworthy has been done on this platform. According to the NFTART website, NFT marketplace will be released soon.

The token began trading around $0.0000000010 on the 22nd April. The token was trading at this incredibly low price since the initial supply of the tokens was enormous with a supply of 10 quadrillion tokens. Also it is worth realizing that even if some number of coins are burnt out of these 10 quadrillion tokens, the quantity is way more than its other crypto siblings.

NFTART Finance had reached a peak value of $0.0000000360 just within a few days post its release. Due to which in the matter of about 96 hours, early investors had made over 30,000% on their investment. But since then the token has dipped to around $0.0000000100 per coin.

How to Buy NFT Art Finance (NFTART)

Open a Binance account for NFT Art Finance

To start with you need Binance coins (BNB) buy any tokens. And the way to buy Binance coin is from a Binance Exchange. So make an account with a trading platform. The process for making Binance account is generally very easy to do and can be done within 2mins. You just need to add your email ID and create password and a Binance account is made. Post which there can be a verification process as per your location and hence the rules & regulations as applicable

Once you’ve been verified, you can buy Binance coins tokens. Although Binance token is currently trading over $500, but you can even buy a fraction of the token. After buying BNB tokens you use them to buy or invest in NFT Art Finance tokens.

Use Trust Wallet for NFT Art Finance

Binance has made a free cryptocurrency wallet called Trust wallet. It can be downloaded on your mobile or tablet be it iOS or Android. The software wallet is a multicurrency wallet, which means it can store variety of cryptocurrencies such as Bitcoin, Ethereum, BNB and NFTART tokens. The wallet even supports NFTs, so one can store their crypto collectibles and cryptocurrency investments in the same convenient place.

Swap Your BNB Tokens

Soon after you have sent BNB tokens to your Trust Wallet, the coins are credited to your account. To swap your BNB tokens, simply select your BNB tokens in your wallet, tap “more” and then “swap to smart chain”.

Make your purchase of NFT Art Finance

You can buy any Binance Smart Chain tokens using your own wallet. The most popular BSC tokens is NFTART Finance, but more and more cryptocurrencies are being developed on Binance’s smart contract network. After swapping your BNB smart chain tokens for NFTART tokens, the crypto will be automatically sent to your Trust Wallet. If you would like to capitalize on this opportunity as a crypto entrepreneur, all you need to do is invest in an NFT art marketplace

Trade, Sell or Convert your NFT Art Finance Tokens

Whenever you want to sell NFTART tokens, you can perform the steps but in the reverse order. i.e. You will need to swap your NFTART tokens for BNB smart chain tokens and after which you can swap the BNB tokens for Bitcoin, Ethereum or another cryptocurrency of your choice. To encash, you’ll need to send the selected cryptocurrency to a legit exchange that must be connected to your bank account.

Current Crypto Prices

Q1 2021 was an exceptional quarter for cryptocurrencies. With reputed institutions such as Tesla and Paypal adding crypto to their balance sheets, showing a radical change in the industry perspective on cryptocurrency. More and more investors are eyeing Bitcoin to store value, and people are waking up to the potential blockchain technology as the future.

Is NFT Art Finance a Good Investment?

NFTART tokens are highly volatile in terms of its value, which is also common to most of the crypto currencies. Also there is no clear answer for now as to where the NFTART prices are headed to. The company has been established recently only and are yet to build any tangible product. Investing in a blockchain startup and that too as small as NFTART Finance can be a risky investments.

Written by Monish Kumar

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