Non Fungible Tokens (NFTs)! You might have heard this term a lot these days. However, do you have a sound idea about this term? Well, we can tell you that NFTs are just another name for opportunities for you. Let us tell you more. In essence, NFTs are digital assets and part of blockchain technology.
Moreover, these digital assets are entirely unique in nature. In the past few 2-3 years, the hype of NFTs has drastically soared because the sales skyrocketed. In fact, in the first six months of 2021, there was a massive sale of a staggering $2.4 billion in total.
Now, these sales continue to rise at a rapid rate. If you have not tapped into the NFT industry yet, you might be missing opportunities. We can tell you that it is worth the shot. If you are thinking of getting a lead in that, this guide is for you. Here, we will round off all the essential aspects of NFTs that you need to know as a beginner.
In a word, NFTs (Non-Fungible Tokens) are digital assets.
Moreover, in the cryptographic sense, NFTs are unique and digital in nature. However, in some cases, one needs to have physical proof or evidence of the NFT ownership. In the larger picture, the NFT market is a valuable part of the global crypto market and blockchain market. That means one needs to have cryptocurrency to deal with NFTs. Now, let us learn more about Non Fungible Tokens.
Each NFT stores a certain kind of information that makes it unique. Moreover, it is obvious that no two alike NFTs can exist. This unique nature of an NFT makes it very likely to be a real-life asset. Just think of a painting by a 19th-century artist. Now, that painting is unique and one of its kind. That is certainly the case with NFTs. Now, you can make an NFT of your own. Let us tell you there is much flexibility when it comes to making a digital asset.
Moreover, just like a physical asset, non-fungible tokens can be sold as well. Commonly, NFTs are artwork.
Here is a quick fun fact about non-fungible tokens. In 2019, Jack Dorsey, CEO of Twitter, sold the first-ever tweet on Twitter as an NFT for a whopping $2.9 million.
Now, it is time for you to make an NFT. Just go through the points below.
That is all! You have a clear idea of what Non-fungible tokens are. Now, you are fully ready to dive into the NFT world.