NFTs have a lot of talk about NFTs these days. People make millions of dollars through NFTs, and some weird stuff sells at unbelievable prices.
For example, llama images are currently sold on OpenSea for about 100,000 Ether. Or sushi like grinch, which earns about 78,294 ETH coins. Flat Twitter founder Jack Dorsey's first tweet was sold as an NFT for $2.9 million earlier this year. Or artist Mike Winkleman's digital artwork collage, dubbed Beeple, was auctioned for $69 million at Christie's earlier this year. This is a ridiculous amount.
So there's not even a physical form that can make that kind of money, and of course people are interested in NFTs. But what is NFT and why do people think it's so valuable? Why is everyone involved, including many celebrities? Let's check.
<h1 class="pgc-h-arrow-right" data-track="3" >what is NFT? </h1>
So, in the most basic terms, an NFT or irreplaceable token is a digital asset stored on the blockchain. Well, it could be anything — an image, a video, a graphic, an icon, or even a single pixel or text, or a tweet about it.
The non-fungible token of non-fungible means that the project is unique and belongs to the same kind. For example, the smartphone you have is a substitute because it can be replaced by the exact same smartphone when it is sold or left you. This makes smartphones an alternative. But on the other hand, something like the Mountain of Light diamond is irreplaceable. Because there is only one, not all diamonds are Light Mountain diamonds. Therefore, every irreplaceable token is unique. NFTs can actually be any digital content, such as gifs, videos, photos, etc.
Now, for photos and videos, NFTs become a bit more complicated. For example, let's say someone pays about $6.6 million or less than Rs 49 for a Beeple video that can be downloaded from the Internet. Similarly, anyone online can copy an image.
So why buy an NFT when anyone can copy images and videos? Purchasing an NFT proves ownership of that digital asset. This means that on a particular blockchain network where NFTs work, everyone knows and can see that you are the owner of the aforementioned NFT or irreplaceable token. This ownership can be sold to others.
Just like people who copy and download images and videos, it's just a copy of the NFT they store, not the real thing. For example, there are many reproductions of Mona Lisa's paintings, but only one in reality. However, NFTs can be created for a group of 50 or 100 identical NFTs for sale, such as transaction cards.
<h1 class="pgc-h-arrow-right" data-track="9" > what is the gist of the NFT</h1>
Currently, the gist of NFTs may vary depending on the different types of people. For example, if you are an artist, it provides you with a platform to sell your artwork. For example, if you're an artist and come up with a really cool sticker idea, it's much better to create an NFT than to sell on at. iMessage App Store.
For buyers of NFTs it acts as a speculative asset. This means that people buy things and want their value to increase over time. This is separate from the idea of supporting your favorite artist. Another factor is that it gives you the right to brag that you own a work of art. In short, NFTs are seen as the future of art collecting.
Given that all numbers can be NFTs, there are several possible use cases. One of the most interesting things we found was Nike, which uses an NFT system to verify the reliability of sneakers.
<h1 class="pgc-h-arrow-right" data-track="13" > how do you trade NFTs? </h1>
Therefore, NFTs are very easy to buy and sell. There are many open markets around NFTs. The most commonly used NFT markets are OpenSea, NFT China, Rarible, and Nifty Gateway. You can buy and sell NFTs on many other NFT markets.
<h1 class="pgc-h-arrow-right" data-track="15" > how to create an NFT</h1>
In 2021, the year of the outbreak of NFT artworks, more and more artists have joined the NFT industry, how to generate their own NFT works? How do I generate NFT works from my own work?
Welcome to NFT China to cast your own NFT works [illustration, photography, music, video, etc.]