Ben Analyst by Bernard Njoukam

January 31, 2022 How to make an NFT | What is NFT in cryptocurrency | Where to buy NFT

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"What is NFT"

"How To make money with NFT"

"How to make an NFT "

"what is nft in cryptocurrency"

" where to buy nft"

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So what is an NFT?

“Non-fungible token” means a crypto asset that cannot be altered or reproduced. You can think of these tokens as the digital equivalent of artwork in a private collection. Each piece of art in the collection is unique and valued differently.

Like pieces of art, an NFT can be sold for money or cryptocurrency. However, the token’s asset transfer is recorded in the blockchain just like cryptocurrency. This establishes who currently owns it.

Each NFT is tied to a digital (or in some cases, physical) asset of the original owner. Technically, anything in digital form can be turned into an NFT. Famous tweets, Facebook posts, Instagram pictures, and more can be turned into NFTs and sold by anyone.

What Gives an NFT Value?

Just like pieces in our hypothetical art collection, consumer interest drives the value of an NFT. Similar to trading cards, the rarity and base of interested consumers influence their worth. While an image can be converted into an NFT, that doesn’t prevent the image from being freely shared. However, it does definitively show who owns the asset through the blockchain.

How Can I Buy an NFT?

Some platforms allow credit cards to be used, but the vast majority of sites where you can buy and sell NFTs require you to use cryptocurrency. You’ll need to establish a wallet for the currency of your choice. Blockchain.com is one popular platform that allows users to create wallets for free.

After verifying your identity on one of these platforms, you can purchase the currency directly around its market value. Once you’ve acquired a decent amount of a popular one like Bitcoin (BTC), it’s time to look at an auction site.

OpenSea is a popular trading post for NFTs of all sorts. It’s similar to sites that sell collectors’ items like eBay. You can find cheap digital art to make uniquely yours.

Important for those new to cryptocurrency: You’ll be charged a fee when using cryptocurrency to check out. The fee varies by how congested the blockchain is at the moment and by what currency is being used.

"What is NFT"

"How To make money with NFT"

"How to make an NFT "

"what is nft in cryptocurrency"

" where to buy nft"

...more