What are NFTs or NFTs? How it works? How do you create and sell it?

 What are NFTs or NFTs? How does it work? How do you create and sell it?

The news about the so-called NFTs or NFTs has become one of the most popular news during the past period, as each period appears about the sale of a picture, a music clip, or even a tweet on Twitter for huge amounts amounting to millions of dollars, but despite that, the term NFT is still not A concept that most people have far from being associated with digital currencies or cryptocurrencies.

What is NFT

And NFT is an abbreviation for non-fungible tokens or non-fungible tokens, but as it turns out, the phrase “non-fungible” is somewhat vague, in short, it means that it is unique and cannot be exchanged for something else, for example, digital currencies such as Bitcoin It is exchangeable, as 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 exchanged for other assets. 

NFTs give a person proof of ownership of a digital asset (a photo, video, drawing, or music track, so that they can monetize ownership or the right to own), but due to the ease of obtaining, for example, the image or video and the difficulty of maintaining it after publishing it via On the Internet, owning an NFT do not necessarily mean that a person has exclusive rights because anything digital can be copied infinitely.

What is the difference between exchangeable and non-fungible tokens (NFTs)?

All digital currencies or cryptocurrencies such as Bitcoin, Ether, 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 for non-fungible tokens NFTs, they are considered a form of digital assets, as, unlike cryptocurrencies that have a monetary value, each NFT has a unique valuation that cannot be exchanged for another, as it is not possible, for example, to exchange a house for another house on the same street because it has the same area and the same number of rooms.

How do redeemable digital assets work?

Non-fungible digital assets (NFTs) are based on the blockchain technology on which digital currencies depend, specifically on the same blockchain technology that the Ethereum blockchain depends on, as the technology can store additional information that makes it work differently from the Ethereum currency itself, and other blockchain technologies can also provide Special versions of its technologies support NFT.

How do you sell your NFT once it is created?

After the token you have created is listed on 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 sale page, 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, VIV3, BakerySwap, as well as Axie, Raible, NFT ShowRoom, NBA Top Shot, and others.

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