The idea behind NFTs is that each one is unique. A piece of digital art can be encoded on a blockchain and its scarcity verified. So why would you want to clone it? That's the head-scratching idea behind CloneMyNFT, the new platform that enables you to clone an NFT, sell the original and keep the 'copy' in your crypto wallet. We're just a little confused.
NFTs, or non-fungible tokens, are the year's biggest digital art trend and they can be confusing without the cloning curveball being thrown into the mix. Get an overview of what are NFTs in our guide, or discover how to make and sell an NFT of your own.
The idea behind cloning an NFT you own, then selling the original while keeping the 'backup' in your wallet seems to be anti-NFT. CloneMyNFT.com works by creating an exact digital copy of your artwork but then generates a new unique contract on the blockchain.
Your image is a clone of the original art. It appears the same but the blockchain registration differs. This gets to the nub of NFTs, you're not buying the art but the token. This means you can even sell your cloned NFT because the contract on the blockchain is what's new, and what can't be cloned.
On its website CloneMyNFT says: "Many collectors get attached to their NFTs and want to continue to view the artwork in their wallet long after they have sold them. Sometimes collectors have to sell them to realise their assets, but for whatever reason they often want to keep a reminder of the NFT they once owned, and now they can."
Read more:
- Know who's buying NFTs
- 10 NFT trends that could change the world
- NFT gaming: 10 things you need to know
