The flexibility of NFT transactions is ensured through the use of smart contracts. Smart contracts are self-executing contracts with the terms of the agreement between the buyer and the seller being directly written into lines of code. They run on a decentralized blockchain network, allowing for secure, transparent, and tamper-proof transactions.
NFT transactions rely on smart contracts to enable the transfer of ownership from the seller to the buyer. The smart contract contains the details of the transaction, such as the price, ownership rights, and any royalties or fees that are to be paid to the creator of the NFT.
NFTs can also be traded on various marketplaces, where buyers and sellers can connect using smart contracts. These marketplaces provide a platform for sellers to offer their NFTs for sale and buyers to purchase them, with the smart contract facilitating the transaction and ensuring that both parties fulfill their obligations.
Overall, the flexibility of NFT transactions is ensured through the use of smart contracts, which provide a secure and transparent way to transfer ownership and conduct transactions on a decentralized blockchain network.
