Have you ever heard about the NFTs? How could you invest in this way? If you have some questions like these I mentioned earlier, I will answer to your questions in the sections below in cryptocurrenclylearn site.
when you’re talking with people in the street, there are a lot of sounds about NFTs, services that they will support, ups and downs and different aspects that they will care about it. In this part we will consider this topic totally different from things that maybe you heard about it.
What is NFT?
NFT is the abbreviation of non-fungible token; that means you have something in a unique value and quantity. In a nutshell each NFT distinguished from another one and every single NFT has its own vision. These NFTs can be categorized in different groups such as:
Arts, physical Arts, Games, fairs and so on. Some people believe that NFTs and crypto currencies will support each other what do you think?Of course, they will support each other; you can sell or buy different works with crypto currencies, but you should consider that which blockchain is suitable for your works.
what is NFT games?
There are different games that maybe you love to spend your time and money in it, but before NFTs you will lose your money; because after every update or upgrades you will miss all of your assets in a blink. These days the role changed.
Physical and Virtual assets
If you’re a salesman or a painter or working in any jobs, you can define your NFTs and sell or buy your works. It’s a good type that you can increase your sale from it.
How can we use NFTs?
There are a lot of ways that you can use your NFTs but in this part, I want to talk about some parts that you can see the benefits of your NFTs and how does it work.
NFT standards and ownership
Something that make your works unique and it helps to prevent from duplicating is Blockchain. There are many blockchains that you can mint your work but generally artists mint their works on Ethereum blockchain. If you want to know about the difference of blockchains, that’s a different game but shortly, different blockchains affected by gas fee, the speed of minting your work, reputation and so on.
How to buy NFTs?
In this part, I will explain about the way that you can sell or buy an NFT.
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Create a wallet
First of all, you need a wallet to keep your assets safe. The best and easiest wallet that you can use is Metamask. If you use laptop, you can use its extension on chrome or if you use your mobile phone, you should search about Metamask.
- Sign up in Opensea or Rarible
There are a lot of marketplaces that you can use for sell or buy your assets that defined as NFT. I suggest you to use Opensea or Rarible; because they have a lot of visitors and customers and this feature will help to increase the chance to selling your works.
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Choose your blockchain
You must choose the blockchain that you want to mint or buy your NFT based on it. There are many blockchains that you can consider or use it and it depends on your strategy and decision that you have for your marketing or investment on your NFT.
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Sell/buy your NFTs.
Now you can buy or sell your NFTs in different platforms. Don’t forget that your NFTs will store in your wallet. If you shared your recovery phrase with someone else, create a new one or If you didn’t, I suggest you to protect of your recovery phrase and don’t share it with someone else, even your friends or family.
What’s the difference between Fungible tokens and non-fungible tokens?
Fungible Assets
Properties that defined in the real world and in the economies and societies are things that we can exchange with people with a specific value; for example, when you want to sell your car, people will pay for a fixed price and it doesn’t worth spending or investing for more money.
Non-fungible Assets
There are a lot of things that we are able to mention in this place but generally, things like historical places, arts that painted by some famous people etc. placed in this part.
Non-fungible Tokens
As I mentioned before, non-fungible tokens are assets or properties that defined by their quantities and communities that support them. For example, we have Bored Ape Yacht Club (BAYC) in this world that are some crazy apes which estimated more than $100.000 for each one. Maybe you ask why???
That’s obvious; they are some NFTs and defined as some unique and valuable assets. Moreover, they are supported by specific groups and people and make a community for their works.
Conclusion
NFTs are the most fascinating assets that you’ve ever had in your life; they are supporting many jobs and industries. In this article I’ve tried to give you a concept from NFTs, differences with physical assets and ways that you can use or make money from it. moreover now you can sell or buy your NFTs too, because I taught you how can you do that.
