What are NFTs examples?Are NFTs even worth it?
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The news about the so-called NFTs or NFTs has become one of the most trending news during the period The past, where every period of time appears a news about the sale of a picture, a music clip, or even a tweet On Twitter with huge amounts amounting to millions of dollars, but despite that the term NFT . still remains Incomprehensible to most people apart from its connection to digital currencies or currencies encrypted.
What is an NFT?What do NFTs do for you?
NFT stands for non-fungible tokens or non-fungible tokens, but As it turns out, the phrase 'non-replaceable' is somewhat vague, in short, it means that unique and cannot be exchanged for something else, for example, digital currencies like Bitcoin is exchangeable, where one currency can be exchanged for another of the same value, but for NFT they are digital assets, each of which has a different value that cannot be Replace it with other assets.
Whereas, NFTs give a person proof of ownership of a digital asset (a photo, video, drawing, or… A tweet or music clip, so that they can monetize ownership or right to own, However, due to the ease of obtaining the image or video clip for example and the difficulty Maintaining it after being posted online, owning an NFT does not necessarily mean that a person He has exclusive rights because anything digital can be copied indefinitely.
To be clear, the NFT can be compared to the Mona Lisa, where anyone can go to Museum, see the painting and even take a picture of it, but he can't bring the painting with him to The house because he doesn't own it, but the painting on the wall in your house is like an NFT board Because it's all yours and you decide what you want to do with it.
What are NFTs in crypto?
All digital currencies or cryptocurrencies such as Bitcoin and Ether are considered Doge and other exchangeable tokens, where each currency can be exchanged for a currency Similar to it, because they both have exactly the same value, but with respect to the incongruent symbols Replaceable NFTs, they are considered as a form of digital asset, as it is not the opposite of coins With a monetary value, each NFT has a unique and irreplaceable rating another, where, for example, one house cannot be exchanged for another house on the same street because it is It has the same area and the same number of rooms.
How do NFTs work?
Non-fungible digital assets (NFTs) are based on blockchain technology It has
digital currencies, specifically on the same blockchain technology on which
the currency depends Ethereum blockchain, where the technology can store
additional information that makes it It works differently than Ethereum
itself, and other blockchain technologies can too Providing special versions
of their technologies that also support NFT.
How to check the authenticity of NFT your?
And due to its reliance on the blockchain technology, it is easy to trace it transparently and verify of its authenticity and authenticity, as the technology records the complete history of all its owners, and some see That NFTs are a digital contract like the various digital contracts.
NFT sales increased from $13.7 million in the first half of 2020 to more than $2.5 billion in the first half of 2021, a 20-fold increase.
What forms of NFT can be sold to others?
Any digital asset or digital file in short can be or sold as NFTs, including graphics, music, videos, gifs and any other digital format, but Most of the non-fungible symbols are now related to digital art, as they can be A Tweet on Twitter, where Jack Dorsey, co-founder and CEO of Twitter, sold a His tweets as NFT for nearly $3 million USD.
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Doge meme sold as NFT for $4M:
The NFTs can also be a meme or a comic, selling the “Doge” meme depicting a dog from Shiba Inu type as NFT or non-fungible digital asset earlier this year 2021 for about $4 million, which is the meme that inspired the creation of Dogecoin digital.
How to create a non-replaceable NFT token?
While the value of non-fungible tokens or digital assets can reach into the millions dollars, but creating an NFT is not difficult at all, since you can create an image or file GIF in any way, including any drawing, photo editing or even Paint in Windows, but the user has to choose the shape first - it can be any Some type of digital file – including text, music, video, or whatever. Unique the better.
Once the user chooses what you want to put up for sale, you will need to know about blockchain technology that you want to use or simply the cryptocurrency you want to link your NFT to With it, Ethereum is the most used cryptocurrency by NFTs platforms, And the user may need some Ether or Ethereum to put up his NFT In a store, where they charge a fee for this, except for the platform OpenSea is open source, which provides the process Free, but the user still needs a digital wallet to create an account and register, and after Register for any NFTS token or non-fungible digital asset exchange, All you have to do is upload the digital file and write some details.
Celebrities like Snoop Dogg, Paris Hilton, and even Edward Snowden have also launched NFTs.
How to sell your NFT once it is created?
After inserting the token you created into any of the digital platforms or marketplaces, The NFT is available for bidding by others, but a fixed price can also be set on the page The sale and the returns you want to get from the initial sale and subsequent sales.
Apart from OpenSea, there are many platforms or stores for trading digital assets or Non-fungible tokens such as SuperRare, Nifty Gateway, Foundation, and VIV3 and BakerySwap, as well as Axie Marketplace, Rarible, NFT ShowRoom, and NBA Top Shot and others.
Is trading NFTs the same as collecting works and artifacts?
While it seems difficult to comprehend, some people actually think so, as Someone paid nearly $390,000 for a 50-second video by Grimes, and another person paid $6.6 million for a video by Beeple, and someone bought a tweet from Jack Dorsey, founder of Twitter for nearly 3 million dollar.
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