Which coins are NFT? Today almost everyone who keeps on track of fintech and hitech news has heard about them.
NFTs are virtual money that contains identification information recorded in computer algorithms.
The developers have made it so that it is not possible to find identical NFT coins. Because this information makes each NFT unique, it is impossible to replace them with another token directly.
Bitcoin is really different from paper notes since cash can be exchanged. This gives an answer to the question: what are NFT coins?
Bitcoin, a popular currency on the Internet, is a fungible cryptocurrency. If you send one bitcoin and return it to yourself, you will still receive 1 bitcoin.
It is also possible that you will receive fewer bitcoins when you send and receive as the fungible tokens are shared. As a rule, NFTs are not disclosed.
However, in recent months, some investors have been experimenting with the concept of NFTs.
Where To Buy NFT Coins?
The question of where and how to buy NFT Coins is really popular. There are a fairly large number of trading platforms for buying an NFT coin.
One of the biggest sellers of NFTs is the OpenSea platform. You can register for free on this website, choose the offers you like, and invest in them.
All kinds of digital assets are available. The platform has simple functionality, so it is suitable for beginners and also supports young talents.
If you want to create your own NFT, you should pay attention to this platform. The marketplace supports nearly 130 different payment systems.
Next, the Rarible platform is another big marketplace for all kinds of NFTs, similar to OpenSea.
Functions such as buying, selling, or creating works of art, video, and music are available on this platform.
However, unlike its competitor, here, you will need to use your own Rarible marketplace token to work on the marketplace.
Incidentally, Adobe is partnering with this platform to keep the work of NFT artists safe.
How To Use An NFT Wallet?
First of all, it is important to understand what criteria you need to choose an NFT wallet. The top NFT Collections are large. These criteria usually include:
- Convenient and intuitive interface and menu for comfortable use;
- Availability of the wallet on various devices;
- Safety and verified chart is the main criteria for your choice;
- It is important to ensure that the trading platforms you want to buy NFT support it.
One of the most famous and popular and even the best cryptocurrency wallets is Metamask. Its browser extension provides easy access to websites like NFT marketplaces with just a couple clicks.
This wallet is easy to use, has its own mobile application, and allows you to exchange currency directly in the application itself.
Relevance of the NFT
Now, you can even hear about the NFT on the news. Their activities started back in 2017-2018, but they gained the greatest popularity already in 2021.
The essence of NFT is that a person creates an interesting product, puts it up for auction, and then a deal is made.
Although thanks to the development of the digital industry and thanks to their best NFT collections, young artists and musicians have begun to earn millions, works may have different prices.
If you are an art connoisseur, you can make good money reselling digital art. It’s trending right now.
And if you are an author, you will earn not only on the sale of your masterpiece but also on the subsequent resale in the form of royalties.
But for this, you will have to actively promote your work on crypto exchanges and marketplaces, paying for their placement and transactions.
When your brand is promoted, it is realistic to get a big jackpot – from several tens to several thousand dollars. World-renowned artists here have every chance to earn millions.
In general, NFT is a way to monetize their skills and expand their audience of creative people.
Due to the lack of logistics difficulties, it is easier to sell artworks digitally than offline.
For example, the painting “Everyday: The First 5000 Days” by artist Mike Winkelmann became a record and took place in one of the top NFT collections.
The picture consisted of JPG files that the artist drew every day for five thousand days. The painting sold on the market for $69.3 million.
Winkelmann’s painting was the first NFT-work sold in the history of the auction house Christie’s.