NFT stands for Non-Fungible Token. NFTs or Non-fungible tokens transform digital works of art and other collectibles into one-of-a-kind verifiable assets that make them easy to trade for profit.
Here’s more about what Non-fungible tokens (NFTs) are, how to buy them and how to protect yourself.
Above all a Non-fungible token (or “NFT”) is a digital asset that can be bought and sold with cryptocurrency.
In short each Non-fungible tokens or NFTs reside at a blockchain address that contains unique metadata to make it non-fungible.
- What is a NFT or Non-fungible token?
NFT or Non-Fungible Token is a digital asset class that resides on a blockchain and can be bought and sold online with cryptocurrency through use of a cryptocurrency wallet. Many companies and celebrities have created NFT assets from Topps to Atari to Jake Paul. These assets are can be bought and sold on NFT marketplaces. In order to purchase Non-fungible tokens or NFTs you will need to exchange real currency for the cryptocurrency. Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security.
- How many Non-Fungible Token marketplaces are there?
Currently there are 11 Major NFT marketplaces, however new ones are being spawned everyday by entrepreneurs.
Consequently, the Top NFT marketplaces a in no particular order are as follows:
- OpenSea (https://opensea.io)
- Rarible (https://rarible.com)
- SuperRare (https://superrare.co/)
- Foundation (https://foundation.app/)
- AtomicMarket (https://wax.atomicmarket.io/)
- Myth Market (https://myth.market/)
- BakerySwap (https://www.bakeryswap.org/)
- KnownOrigin (https://knownorigin.io/)
- Enjin Marketplace (https://enjin.io/software/marketplace)
- Portion (https://portion.io/)
- Async Art (https://async.art/)
