NFTs

Buy Sell and Trade NTFs

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NFTs are a newer element in the cryptocurrency landscape and whilst they are not coins or traditional tokens they can be bought, sold and traded, have value and can have all kinds of utility bonuses.


NFT stands for non fungible token which in simple terms means a unique asset. For example the Mona Lisa painting by Leonardo Da Vinci is non fungible. There is only one. It can be bought and sold, but the single item passes from one owner to another.


With any copies just being copies. They are not authentic or original. With digital NFTs, the blockchain provides us with data and a digital signature that clarifies authenticity and proof of ownership. These NFTs can then be traded on the Ethereum blockchain.


NFTs have become popular in recent years as a way of owning digital art, but literally anything can form an NFT. Whilst the actual NFT is nothing more than a digital file with proof of ownership, the NFT can have a different utility. For example, by holding specific NFTs you may gain entry to events, communities, services and other rewards. Likewise, an NFT may represent ownership of a physical real world item.


To start an NFT collection you will need a wallet that accepts Etheruem and can hold NFTs. You will then need to do your research on what NFTs you would like to buy and for what purpose.


Marketplaces like Opensea allow users to discover, collect and sell all kinds of NFTs.

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