NFT Overview

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1) This is not investment advice

2) FTX is not offered in the United States

3) NFTs do not necessarily have any intrinsic value.  They also might be illiquid.  If you buy an NFT, you are not necessarily going to be able to sell it for much later, or gain any specific utility from it.

4) You are welcome to buy NFTs if it would make you happy to own them!  But there is no implied economic return associated with doing so.

5) There are no refunds for NFTs, and we will not field customer complaints.  Please only buy NFTs if you understand that doing so does not necessarily give any direct economic value.

 

What is an NFT?

An NFT is a non-fungible token.  That means it's a token you can buy, sell, and hold.  Unlike most cryptocurrencies, there may be very few or only one of an NFT, and they might be indivisible, meaning it may not be fungible with any other tokens.

NFTs can take a number of forms.  Sometimes, they can be redeemed for a physical object.  Sometimes the owner is entitled to an experience, like a movie or a phone call.  Sometimes they are associated with a digital image.  Sometimes they are associated with nothing at all.

 

Should I buy NFTs?

I don't know!  But you should be aware of the following:

 

1) NFTs do not necessarily have any intrinsic value.  They also might be illiquid.  If you buy an NFT, you are not necessarily going to be able to sell it for much later, or gain any specific utility from it.

2) You are welcome to buy NFTs if it would make you happy to own them!  But there is no implied economic return associated with doing so.

3) There are no refunds for NFTs, and we will not field customer complaints.  Please only buy NFTs if you understand that doing so does not necessarily give any direct economic value.

 

What can I do with FTX's NFTs?

  1. You can bid on them or purchase them.
  2. You can attempt to auction off an NFT that you own.  Note that there might or might not be anyone who wants to buy it from you.
  3. You can hold them on your FTX NFT gallery, and you will soon be able to withdraw them to your personal wallet if you want
  4. With some NFTs, you can redeem them for a good or service; details are in the descriptions of the NFTs.
  5. You can display your personal gallery of NFTs.

 

Can I partner with FTX for NFTs?

Absolutely!  Please reach out to us if you're interested in offering your NFTs on FTX.

 

What are the fees?

FTX charges a 5% fee to the buyer and the seller on each sale or trade.

 

I'm in the US.  Can I buy NFTs from FTX?

Nope!  US residents can't create accounts on FTX.  However, you are welcome to check out NFTs at FTX US.

 

I'm confused.  Am I missing something?  What do these do?

You're probably not missing anything, but you can explore the NFTs that FTX offers here.  Some people love NFTs, some people don't.  To each their own!

 

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