Is it possible to sell photos taken by phone and edited by phone apps as NFT assets?

Yes, it is possible.

However there is no guarantee that anyone will actually buy the NFT+photo.

It is my personal guess that some if not most of the events of large amount of money paid for a NFT may be staged events, clever marketing.

It makes a person with ordinary skills think - “I can do better than the crappy image NFT which sold for tons of money”…

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