It’s simple for us to view NFTs with skepticism and mistrust given the excessive hype that surrounds them. The problem is that those sizable auctions only cover a very small portion of what NFTs have to offer.
NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms these cryptographic assets are based on blockchain technology. They cannot be exchanged or traded equivalently like other cryptographic assets like Bitcoin or Ethereum.
Imagine paying a fair price for a piece of digital art online and receiving a special digital token that verifies your ownership of the purchase. Wouldn’t that be wonderful?
The world of digital art and collectibles is currently awash in NFTs. NFTs are currently positioned as the digital alternative to collectibles, much as everyone believed that Bitcoin was the digital replacement for cash. As a result of the enormous sales to a new crypto audience, digital artists are witnessing changes in their life.
The platform is intended to appeal primarily to the international pioneers who are already members of the pi network community. Most people don’t understand what NFT is, and the platform’s goal is to change that.
Pi NFT addresses the issues of security, authenticity, and fair recompense for artists on digital networks both inside and beyond the pi network community.
The first NFT market powered by the pi chain platform is the pi network NFT Market.
Through the use of this specific platform, users have the ability to utilize the potential of digital collections and non-fungible tokens on the network. Pioneers have the option to create, construct, and manage their own digital collections.
A decentralized advisory organization (Dao) has been established as a means to manage these transactions before the platform reveals them because NFT permits covert payments.
Pi NFT offers a platform for digital art creators and collections to make money off of their creations. Verify the performance and authenticity of the artwork, maintain ownership rights, and allow for secondary market transactions.
From the viewpoint of the pi network’s users, this is seen as the integration of the pi network into the platform by enabling pi Payment for the production and acquisition of NFTs.
What is Pi Network?
Pi Network is positioned as an attempt to simplify the accessibility and introduce more people to cryptocurrency through a simple crypto mining and management system. It was officially launched on 14 March 2019 by Nicolas Kokkalis and Chengdiao Fan.
Pi Network offers a mobile mining feature, where users can mine Pi coins on their Android and iOS devices using the Pi mobile application. Participation in the mining program was solely by invitation. After installing and setting up the application, users can mine Pi coins on their devices with a single click. Since its launch, the Pi network has garnered a large social media following and has seen incredible growth in participation with a reported 33 million members as of 2022.
