The main difference between NFT backed jewellery and traditional jewellery is that NFT backed jewellery has an NFT linked to it, which provides a unique digital identifier that authenticates and tracks ownership of the physical piece of jewellery. Traditional jewellery does not have this kind of digital tracking or verification, and its ownership is often established through documentation or proof of purchase. Additionally, NFT backed jewellery can potentially have a higher resale value due to the unique digital identifier and ownership tracking.

NFT technology works in jewellery by providing a digital identifier that links to the physical piece, storing its information on a blockchain for secure ownership tracking. This enhances the jewellery’s authenticity and value.

The value of NFT backed jewellery is determined by the rarity and uniqueness of the physical piece, materials used, craftsmanship, and overall demand. The NFT linked to the jewellery can also impact its value by providing a unique digital identifier that enhances its authenticity and traceability.

Any valuable and unique piece of jewellery with a distinguishable identifier can be backed by NFTs. This includes necklaces, bracelets, rings, earrings, and luxury watches.

NFT backed jewellery can be either unique one-of-a-kind pieces or mass-produced. Each piece has a unique identifier linked to its corresponding NFT on the blockchain, but rarity and exclusivity can increase its appeal to collectors and enthusiasts.