You must have come across the news that Jack Dorsey, Twitter co-founder, sold his first tweet as NFT for approximately $2.9 million. NFT. Non-fungible Token. Since the term was introduced, it gave a new meaning to assets.
So what are NFTs? They are primarily digital assets you can buy and sell. They are unique tokens based on blockchain technology.
They let you tokenize various forms of art, among other things. The hype behind NFTs is nothing new, and time and again, we have seen Bollywood celebrities launching their collectables.
What Are NFT’s?
Let’s know more about NFTs. Don’t confuse cryptocurrency and NFT. The only similarity between them is that they are developed using the same language. So, how do they differ? Cryptocurrencies are equal in value, but NFTs are not, as each has a unique digital signature.
NFTs are built on Ethereum generally and are built on tangible objects like collectables, art, GIFs, etc. They have single owners at a time.
Websites To Invest/Trade In NFT
Let’s learn about some NFT Marketplaces where you can buy or sell them.
This online marketplace is the largest platform to browse a sea of NFT Collections. Yesterday, a 22-year-old Indonesian boy made news by becoming a millionaire after selling 1000 selfies on this platform. Strange but exciting!
Rarible is another large marketplace to create NFTs on Ethereum for free. You can buy or sell all types of music, collectables and art here.
CryptoPunks are 24×24 pixels with an 8-bit-style unique avatar. To date, the values of CryptoPunks have grown exponentially. LarvaLabs website enables you to buy CryptoPunks. Here, you can purchase avatars from various owners, or if you are one among them, you can sell to others.
This platform amalgamates crypto with culture. It works so that an artist has to receive upvotes from others to let him post his work. This platform accepts Ether for transactions.
Mark Cuban, the billionaire, backs this marketplace. It supports all types of creators ranging from photographers to musicians.
Have you made up your mind to enter the World of NFT? Let us know whether we can help you with the information.