Non-fungible tokens, or NFTs are the latest cryptocurrency phenomenon to go mainstream? ? !
So what are NFTs?
in the simplest terms, NFTs transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain.
it is the digital database underpinning cryptocurrencies such as bitcoin and ethereum.
Unlike NFTs, those assets are fungible, meaning they can be replaced or exchanged with another identical one of the same value, much like a dollar bill.
How Does an NFT Work?
NFTs exist on a blockchain, which is a distributed public ledger that records transactions. You’re probably most familiar with blockchain as the underlying process that makes cryptocurrencies possible.
An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:
Art / GIFs/ Videos and sports highlights/ Collectibles/ Virtual avatars and/video game skins/Designer sneakers/Music.
How to buy NFTs ?
Here’s a step-by-step guide to making an NFT purchase.
1-Purchase Ethereum on a crypto exchange (such as Coinbase Global )
2-Transfer your crypto to a crypto wallet.
Some exchanges like Coinbase have built-in wallet features that are offered when you open an account, but other options include dedicated wallets like MetaMask.
3- Connect your wallet to an NFT marketplace.
Once connected, you can start browsing the marketplace’s NFT collection and make a purchase.
Blockchain For NFT&projects
See you in the next article ! ^^
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