Not so long ago, the term NFT has become a mystery to some even advanced users who are versed in cryptocurrency, blockchain and the token system. Information appeared that cultural institutions, media projects and athletes are selling in this format, earning large sums of dollars. Exchanges for the sale of tokens they attack specifically for the purpose of buying unique NTF, the value of which is not measured only in dollars.
Therefore, let’s figure out what NFT is, on which platforms it exists, what it can be used for and how to get personal benefit from it.
Explanation of the abbreviation NFT means – non-fungible tokens, that is, a token that cannot exchange / replace. There is a whole system of tokens in a separate system called blockchain. All blockchain information is located simultaneously on all computers that are connected to this system.
Inside, of course, there is its own analogue of currency – tokens. They represent an entry in the register responsible for a certain “amount”. Regular tokens can be easily exchanged, similar to the exchange rate, for other or real money. However, NTFs are absolutely unique, and this is their key difference.
Thus, each NTF is exclusive and exists to represent a certain exceptional project.
NFT market is entirely composed of unique items belonging to the media industry, the world of art, intellectual property, etc. All information about the author and the features of his object, operations performed with him are tied to such a token in the blockchain.
What can be bought and sold with this currency:
· Music (both individual tracks and albums, singles, unique selections);
· Images (paintings with a worldwide reputation or vice versa, early works, sketches, drawings of famous people);
· 3D visualization;
· video files;
· Text content and much more.
Thus, we see that any unique digital information can be traded with the NTF. In particular, this topic is popular among collectors who want to have exclusive rights to certain works of art and cultural property. In second place among the buyers of NTF are gamers who collect unique in-game items.
Any nft token exchange offers them to interested buyers in exchange for exclusive projects. The singer Grimes (wife of Elon Musk), the founder of Twitter Jack Dorsey, the artist Mike Winkelman, and the Hermitage itself were going to hold an auction of famous works for tokens in this way. Lots of musicians and sportsmen also sell their work.
From the other side, this is a great start for nft investment , so how it allows you to invest finances in art objects that do not lose in value over time, but only grow.
Many marketplaces also sell nft tokens, for example, such as:
· Alcor Exchange;
However, there are much more of them and you can find the most convenient for you nft platform with favorable conditions.
And if in January-February 2021 NFT tokens were a purely niche product in the field of cryptocurrencies, then six months later they gained great popularity and began to be actively bought by people. Some financial analysts believe that this could lead to a surge in popularity, and then a collapse in prices in this market. Others argue that investing in this way in art will be profitable and win-win for many years to come.