You are currently viewing What is NFT(Non-fungible token) or What’s NFT?
What is NFT(Non-fungible token) or What’s NFT?

What is NFT(Non-fungible token) or What’s NFT?

Non-fungible token.
It doesn’t explain anything, does it?
So here at i’m going to explain in simple words about NFT.

The word “non-fungible” has a specific meaning in the world of cryptocurrencies and blockchains. It refers to something that can’t be exchanged for a similar item.

For example, a bitcoin is fungible—trade one for another bitcoin, and you’ll have exactly the same thing.

A non-fungible item can’t be easily substituted with something else. If you trade a unique trading card for a different card, you’re giving up a unique, valuable card in exchange for a lesser one.

How NFT or Non-fungible token works?

It is important to know that most non-fungible tokens are part of the Ethereum blockchain. 

So non-fungible tokens (NFTs) are kind of the Ethereum blockchain. While Ethereum is a digital currency like Bitcoin. The Ethereum blockchain supports NFTs that store extra information that directs them to perform tasks different from Bitcoin’s. It is significant that other blockchains can carry out their own forms of NFTs.

What’s the worth of NFT? Or How much is worth to buy NFT?

NFTs can truly be anything computerized, (for example, drawings, music, your cerebrum downloaded and transformed into an AI), yet a great deal of the ongoing energy is around utilizing the tech to sell advanced craftsmanship. I know it doesn’t explain the worth but let me try in simple words.

Dogecoin isn’t a NFT, but GIF of a dogecoin might be.

while concocting the line “purchasing my great tweets,” we were attempting to consider something so senseless that it wouldn’t be genuine or basically it seems senseless. So obviously the organizer behind Twitter sold one for just shy of $3 million

Where can we Buy NFT? Or How to sell NFT?

There many exchanges which helps you buy NFT (Non-Fungible Token),
But my personal favorite and easy to use is OPENSEA.

For logging into opensea you need to have metamask or any other crypto wallet, as soon as you attach your wallet with it, you’ll be able to start buying or selling NFT’s( Non fungible Token).

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