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The NFT market has seen billions of worth of transactions and its popularity is growing day by day. Many celebrities have launched their own NFT collections while others want to Create NFT Token and brands have been utilizing NFTs for marketing.
1. Popularity
2. Trading Volume
3. Ownership History
What Factors Affect the Demand of an NFT
While rarity is an important factor that affects the value of an NFT, there are multiple factors like aesthetic qualities, creator's reputation, exclusive community access, which are important components of an NFTs market value. The price also depends upon what specific properties the NFT community values.
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