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NFT : All about Non-Fungible Tokens

You are looking for understand everything about NFTs ? That's good news. We have swept the subject and answered as many of your questions as possible. It is normal to be a little lost in all these new concepts and not always understand everything. In this article, you will find a summary of the articles we have written on the different subjects concerning Non-Fungible Tokens. We give you the definition of an NFT, we explain how to create an NFT, but also where and how to buy some.

What is an NFT? Definition

NFT stands for Non-Fungible Token. Understand that NFTs represent non-interchangeable items. In fact, NFTs are digital assets that exist thanks to the blockchain technology. This technology allows to store data in a decentralized and secured way. It is unforgeable, immutable and totally transparent.

But as the definition of an NFT can be quite obscure for some, let's take an example.
For example, one dollar, one euro, or any coin is exchangeable for another. A dollar coin can be exchanged for another dollar coin. These coins both have the same value and cannot be distinguished from each other. In this case, we talk about of fungible assets.

The NFTs are unique and non-replaceable and your purchase transaction on the blockchain is visible to everyone and unalterable. Thus, you can justify the authenticity of your NFT and prove that you are its owner. An NFT can exist in different forms (digital artwork, video game element, image, music, etc.).

For more detailed information on NFTs, please feel free to read the full article. ⬇️

How to create an NFT?

To create an NFT, you can use whatever means you want. If you are used to working with Illustrator, PhotoShop, or any other graphic design software, you can create your digital design. But for your digital work to become an NFT, it must be signed and registered with a smart contract on a blockchain.

It is very simple to create a NFT and put it on sale on a marketplace. There are different selling platforms powered by different blockchains. Today, the blockchain with the most transactions related to Non-Fungible Tokens is the blockchain Ethereum. And the 2 biggest marketplaces on this blockchain are Rarible and OpenSea.

The advantage of these platforms is that you don't need to know anything about blockchain. But there are still some important things to keep in mind. For example, you should know that create an NFT on a marketplace and putting it on sale is not free. In fact, every action taken on the blockchain incurs a cost. Moreover, the fact of registering information on the Ethereum blockchain is quite expensive. This is called "gas fees". These transaction fees are mandatory and must be paid in the blockchain's native crypto currency.

🗂 4 steps are mandatory to easily create an NFT and put it on sale:

  1. Configure a wallet MetaMask.
  2. Create an NFT on a marketplace like OpenSea (for example).
  3. Buy crypto currency on a exchange like Binance.
  4. Put the NFT on sale and list it on a marketplace.

For more details on creating an NFT, configuring your wallet MetaMask and your first crypto-currency purchases, feel free to read the full article. Here we explain everything. ⬇️

Where to buy a Non-Fungible Token?

First of all, it is important to know that NFTs are closely related to the crypto-currency market. The exponential growth that NFTs are experiencing is therefore totally correlated with the crypto-currency market.
You can't buy an NFT if you don't own a crypto-currency. NFTs are stored on a blockchain, and in order to acquire them, you must own native currency from that same blockchain.

There are different marketplaces on which we can buy NFTs. Some may be generalist and offer any type of NFTs. Others are specialized (art, sports, video games, etc.) and offer only certain types of NFTs. OpenSea is the largest digital marketplace in the world for crypto-currency collectibles and NFTs. You can also acquire NFTs on Rarible, Mintable, SuperRare and other marketplaces.

The largest exchange of crypto-currencies also launched its marketplace of NFT : Binance NFT. And you should know that there are also specialized marketplaces (video games, art, sports, etc.), such as Sorare, Axie Infinity and NBA TopShot (among others, of course).

On these marketplaces, the NFTs are presented in the form of product sheets, a bit like on any e-commerce (except that here, the products are only digital).

For more details on how to purchase a Non-Fungible Token and the steps to follow, please feel free to read the full article. ⬇️

That's it, you know absolutely everything about the world of NFTs. You know everything 😉 (or almost). The subject is very very vast, so don't hesitate to read the complete articles that will give you more details. Think also to complete your knowledge on other reference sites which treat the subject. Be careful though, always check your sources of information!

About the author


Co-founder and editor in chief of Crypto Gaming Area.
His biggest hobby, video games. Her pleasure, sharing her knowledge. Geek and passionate, the Play to Earn, the Metaverse and the NFTs represent her new playground. A true believer in the technology of the blockchain and in the democratization of GameFi.

Looking for a crypto game writer job? Write to me !

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