NFT stands for non-fungible token.
NFTs are “one-of-a-kind” assets in the digital world that can be bought and sold like any other piece of property, but they have no tangible form of their own.
The digital tokens can be thought of as certificates of ownership for virtual or physical assets.
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 encoded with the same underlying software as Bitcoin or Ethereum. Each NFT has a digital signature that makes it impossible to be exchanged for or equal to one another (hence, non-fungible).
NFTs really started gaining popularity in 2020, when celebrities like Snoop Dogg, Mark Cuban, Tom Brady started creating NFTs and making unique memories and artwork and selling them as NFTs.
How to Buy NFTs
There is a lot of articles on the net on how to buy NFTs, but here is a short re-cap.
You’ll need to get a digital wallet like Metamask that allows you to store NFTs and cryptocurrencies. Then you will have to purchase some cryptocurrency, like Ethereum.
Once you’ve got your wallet set up and funded, you can buy NFTs on various Marketplaces. The links are also on our site and you can check and buy the original NFT on this marketplaces.
The largest marketplaces for NFTs are:
- OpenSea.io: One of the first and largest NFT marketplaces.
- Rarible: democratic, open marketplace that allows artists and creators to issue and sell NFTs.
- Mintable: Mintable was funded by Marc Cuban in 2021 and features a lot of NFTs from sports players and celebrities.
- Foundation: in foundation, artists must receive an invitation from fellow creators to post their art so the community is much more exclusive and cost of entry is much higher than on other platforms.
How much are NFTs worth?
The record for highest sold NFT holds digital artist Beeple, who sold his artwork for 69 mio USD.
Sports NFTs are also reaching it’s popularity – the Collectible Card of Kylian Mbappe recently got sold for 116,15 ETH that is approx. 315.000 USD.
A lot of professional athletes have started making their own NFTs, players like Luka Doncic, Khabib Nurmagomedov, Tom Brady and we think here lies the future of NFTs, because their artwork will be unique, uniquely written in a blockchain, for ever.
Check all Celebrity NFTs.