What the hell are NFTs? Today, we’re discussing what are the NFT’s what are the uses. NFT stand for Non-Fungible Token.
NFT stands for “Non-Fungible Token”, it is a cryptographic token that represents something unique and has an individual characteristic that sets it apart.
Owning an NFT is like owning a work of art or a collectible antique.
NFTs are unique tokens or digital assets that generate value because of their uniqueness.
Platforms are being created where you can Securitise NFTs meaning you can now own part of an NFT so you don’t have to pay the full price.
The adoption of NFTs is growing day by day, with major sports teams, celebrities, and established companies all wanting to get involved in the growing space.
The top NFT exchanges where you can trade NFTs are currently:
•Rarible
•Opensea
•SuperRare
•NiftyGateway
Nowadays, many exchanges also started to develop their own NFT platform. For example WazirX, Binance, etc.
Most exchanges will ask you to connect a wallet such as MetaMask to purchase the NFTs and also store them, NFTs built on the Ethereum network will also require a gas fee to be able to interact with the network.
In the past few months, we have seen a boom in NFT projects being created and used, also massive gains being made with the coins, some to mention are:
•Chiliz (CHZ)
•Enjin (ENJ)
•BePro (BEPRO)
•OVRLand (OVR)
•Decentraland (MANA)
NFTs look like they are here to stay.
