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Frequently Asked Questions

What is an NFT
A non-fungible token is a unique and non-interchangeable unit of data stored on a blockchain, a form of digital ledger.
Considered by some as Digital Assets, NFTs can be associated with unique and limited or reproducible digital files such as photos, videos, and audio. The ownership of an NFT can include copyright ownership, access to exclusive memberships, live and meta events, and physical and digital items in the Meta verse.
How does NFT ownership work?
NFT ownership is recorded on the blockchain, and that entry acts as a digital pink slip. The recording of NFT ownership on the blockchain acts as an irrefutable verification of ownership.
What is NFT Ticketing and why is it important?
NFT Ticketing is the distribution of tickets for physical events and digital meta verse events via NFTs (Non Fungible Tokens).
Distribution of tickets via NFT alleviates a lot of the problems that currently exist within the traditional ticketing industry including theft, the creation of fake tickets, and many other mischievous concerns.
Can artists sell ownership of their music via NFT?
The $SOUND NFT Marketplace will allow artists to sell their Music, in some cases auctioning off NFTs that include fractional shares of a song or album, allowing fans and investors to invest in their favorite artist as they would a company or index.
What other kinds of NFTs will exist on the $SOUND NFT Marketplace?
As mentioned prior NFTs on the $SOUND NFT Marketplace will include Music, NFT Tickets to live and virtual events, as well as Digital Art. Artists will have the ability to release limited edition art and collectibles on the $SOUND NFT Marketplace. Types of art include but are not limited to, unique limited edition album covers, character collections, Meta verse accessories and clothing articles, and much more.
Are there any incentives for purchasing NFTs using the $SOUND cryptocurrency.
Once integration for payment via $SOUND is complete, purchasers will receive discounts and additional incentives for purchasing NFTs via sound. Transacting in $SOUND rewards those holding the token through automatically distributed reflections.