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Get to know the world of NFTs and how to invest in them
NFTs are considered one of the most popular investments in the past few years. Learn more about them how to break your way through the NFT market.
NFT’s in the metaverse
If you had a small idea about the metaverse then you probably have heard the term NFT, NFTs are the most used trading currency in the metaverse. If you are interested in investing, gaming, or working in the metaverse read more below.
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Tip: touch the underlined words to get more details
The different types of NFTs
Art
The most popular form of NFT out there, Right now, a lot of the most expensive NFTs are works of art. Pudgy Penguins, Clone-X, Cool Cats, Cryptokitties, these are the NFT collections that have been popular recently.
Digital lands
NFT virtual land is an ownable area of digital land on a metaverse platform like Decentraland and SandBox. NFTs are suited to representing land ownership as each one is unique and easily proves digital ownership.
In-games NFTs
Metaverses are mainly games where you can create avatars and do activities in the game. These activities let you earn in-game assets which are NFTs.
Domain names
Domain names have become popular recently. Decentralized Domain Name Services such as Unstoppable Domains and the Ethereum Name Service (ENS) are the top examples of domain name NFTs
NFTs market values
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What are NFTs?
An NFT is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
What makes NFTs special?
When you buy an NFT are the keys to a non-fungible – perhaps unique – token. That token is yours to trade, hold, or display in Decentraland. NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes.
Celebrities and NFTs
Celebrities also have tokenized everything from music, photographs to artwork using NFTs. Snoop Dogg, Shawn Mendes, Eminem, and others have joined the trend and used NFT art, music, and lands.
Most expensive NFTs
As NFTs continue to become more widespread, let’s explore some of the most expensive NFTs that have ever sold.
The First 5,000 Days – $69 million
CryptoPunk #3100 – $7.58 million
NFTs over the years
Past
Started in 2012, were called colored coins. In 2015,game called Etheria, presented the idea of NFT lands
Present
Today, NFT sales on OpensSea alone are over $150M monthly. Thousands of NFT sales happen per day
Future
The market is expected to grow and reach $80 billion by 2025
FAQ
Frequently asked questions about NFTs
Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another. They’re also equal in value—one dollar is always worth another dollar; one Bitcoin is always equal to another Bitcoin. Crypto’s fungibility makes it a trusted means of conducting transactions on the blockchain.
NFTs are different, NFT stands for non-fungible token. Each has a digital signature that makes it impossible for NFTs to be exchanged for or equal to one another (hence, non-fungible). Refer to our guide on crypto and NFTs for more info
Musicians that have used NFTs include American rapper Lil Pump, Lindsay Lohan, Shaquille O’Neal, Kevin Hart, and others are using NFTs in different forms.
NFTs are valuable because they ensure that a non-fungible item is genuine. This distinguishes these assets as one-of-a-kind.
As it continues to evolve, the metaverse will further leverage the internet to give users an even more immersive online and digital experience.
NFTs represent valuable unique financial securities that can be listed on the market. Unlike copy-pasted pictures, screenshots, and other files, NFTs have data written on the blockchain. This data can’t be changed by any means, and it guarantees the item that you hold is the original NFT.
Picasso’s works are non-transferable. While everyone can copy his paintings, the originals are irreplaceable and one-of-a-kind.
Because the technology they are built on makes them undeletable and unchangeable. This is especially crucial when purchasing items such as artwork, limited-edition media, and so on.
It should also have persistence. This means that it’s available anytime you want to visit it and that you can make changes to it, with these changes still applied when on your next visit
The cost depends on some factors such as what NFT wallet you are using and the time. However, many popular NFT wallets are going to let you mint completely free of charge, though some are going to charge a basic fee of between $70 and $120 to help you start
No, they were invented in 2012 but they are newly popular.
