Don't know what an nft is? We explain it to you

Not a day goes by without hearing about the nft. The blockchain universe has adopted them out of hand. Nft's are in fact a new way to own assets. These new forms of crypto assets are making a lot of noise and it is important to have a more or less complete idea. What are we talking about? What makes nft so popular? For those who want to know more about nft, this is the ideal place to satisfy their curiosity.

What are we talking about when we talk about nft?

Art objects are an important investment that brings value. Nft's are the same way. They are collected digital assets that have a value similar to that of a crypto or art form.

What does the acronym nft stand for? In English, No-fungible Tokens. As for the French name, it refers to a non-fungible token. It is clearly a kind of crytomoney just like Ethereum or bitcoin. However, the specificity of this cryptocurrencyis that it is totally unique. The term non-fungible is to specify that this token is not exchangeable.

Why is an nft so clearly different from a traditional crypto currency? The reality is that the nft file admits additional information, and in any area; this is not the case with a classic cryto. The nft are excessively varied and can substitute for :

  • a digital art form
  • a music file
  • everything that is authentic, singular, valuable and can be digitized.

One can say that the nft is actually like a physical object collected with a high value, except that instead of holding a sculpture or an art painting to be installed in one's home or in a gallery, it is a JPG file that one holds.

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The nft: how does it work?

The nft belongs to the Ethereum blockchain. It is thus a singular token whose additional information is the essential element that favors the acquisition of strong values like a video, a work of art (sculpture, painting, hanging, etc.), a music, but obviously in the form of JPGS files, GIF, MP3, videos... The value of the nft makes it possible to sell it and thus to buy it. As for its value, it depends on the market and the demand.

It is important to know that while the nft is unique, there may be a myriad of digital versions of an nft artwork on the market. As true as an original work can be pulled, multiplied and marketed, a copy of an nft also has value in the blockchain, even if it does not equal the price of the original.

If it is possible to save the image of a nft work with a click, it is not for that reason that one can believe to be able to pirate the system. It would be too easy to get rich that way, wouldn't it? Indeed, downloading the file does not provide the additional information that makes nft a full-fledged link in the blockchain and therefore a safe bet.

Where can I buy nft tokens?

Get some nft really depends on what you want to buy. Many platforms sell them. Do you want to buy baseball cards? Digitaltradingcards is one of the appropriate sites to get them. Some marketplaces sell a little bit of everything. To make purchases on a site, it is therefore necessary to have a wallet adapted to it and supply it with crytomoney.

The demand for nft is growing and that is why the sale of nft is growing: during the events, lots are sold at various times. This is because when the sale is launched, buyers storm the premises. It is recommended that you register to stock your wallet in advance to give yourself a better chance.

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The following platforms market nft :

  • SuperRare;
  • Axie Marketplace;
  • Nifty Gateway;
  • Foundation;
  • NFT ShowRoom;
  • VIV3;
  • OpenSea;
  • BakerySwap;
  • Rarible, etc.

In the field of video games, nft is an important part of purchase. Indeed, we find assets such as skins, swords... These assets are often sought by players.

Who are the people who use nft?

The nft market shows that they are definitely in vogue. And for good reason, all areas of culture are interested in them: artists, brands, players. Not a day goes by without a new player entering the burgeoning nft market.

The participation of artists in building this market is important. The space nft invested by one artist creates another while bringing another format that promotes the sharing and popularization of his art. This makes it easy for an artist's fans to support their work. From GIFs to large works, artists give a slew of opportunities for the public to make purchases and earn a lot of money.

The "Mars House" is a $500,000 digital house that has already been sold. This means that the nft is a phenomenon that has a bright future. Under these conditions, everyone will eventually become interested in nft.

One may be tempted to ask if one can produce one's own nft. Technically yes. It is enough to create an artistic work and to make it an nft by the process of mining, specific to the blockchain. However, what can be a brake are the hidden costs. For the moment, nft's are the preserve of the truly rich.

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