Imagine you have a rare Pokemon card. In the real world, once you own that card, you can sell it to someone else, trade it for another item, or even use it as collateral for a loan.
Similarly, in the digital realm, thanks to web3 technologies, digital collectibles can also be traded, sold, or used in financial transactions. These subsequent sales or transactions, after the initial purchase, are known as "secondary sales."
Let's say Alice, a fan, buys one of your Winamp Original Collectible (NFT). She's now the proud owner of the master of one your soundtrack. A few months later, Bob offers Alice a good price for it. When Alice sells her Collectible (NFT) to Bob, that's a secondary sale.
Just like selling a physical painting or trading a collectible toy, the digital collectible changes hands, and value is exchanged.
Thanks to web3 technologies, the process is secure, and transparent, and with Winamp, You as a Creator can even earn a percentage of sales made in the secondary market!