Non Fungible Tokens (NFTs) are digital assets that represent objects like art, collectible, and in-game items. They are traded online, often with cryptocurrency, and are generally encoded within smart contracts on a blockchain. An NFT is a unit of data stored on a blockchain that certifies a digital asset to be unique and therefore not interchangeable, while offering a unique digital certificate of ownership for the NFT.
The revolution is not confined to the art market. While NFT adoption in gaming has already reached a certain maturity, for example concerning the trade of in-game objects, different other industries, especially those involved with the production of digital content such as music or video, are experimenting with the technology.
NFTs are now being used to commodify digital objects in different contexts, such as art, gaming, and sports collectibles. Originally NFTs were part of the Ethereum blockchain but increasingly more blockchains have implemented their own versions of NFTs.
Any digital image can be purchased as an NFT. But there are a few things to consider when buying one, especially if you're a newbie. You'll need to decide what marketplace to buy from, what type of digital wallet is required to store it and what kind of cryptocurrency you'll need to complete the sale. Some of the most common NFT marketplaces include OpenSea, Mintable, Nifty Gateway, Rarible and more...
Anyone can create an NFT. All that's needed is a digital wallet, a small purchase of ethereum and a connection to an NFT marketplace where you'll be able to upload and turn the content into an NFT or crypto art.