NFT stands for Non-Fungible Token. It can be represented as the cryptographic representation of any special art or design. In simple words, we can say that the unique design built on the blockchain platform is NFT.
NFT
NFT is a non-fungible token. It is the unique cryptographic design created in the blockchain. Any virtual asset like an image, cartoon, coin, token, or any other creature is NFT.
Anyone can create NFT with his/her programming knowledge or special design knowledge. There are so many popular NFT marketplaces that allow you to create, buy and sell NFT.
NON-Fungible means that can not be measured in value like arts, images, design. Suppose Bitcoin is a cryptocurrency, and it has a value. But NFT is unique in itself, and it can’t be duplicated by anyone.
Blockchain has records of such kind of activity. So, it is quite safe and secure to sell art through the NFT marketplace.
Top 10 NFT Market Place
By the way, nowadays all the major exchanges like Binance and Coinbase are launching their own NFT marketplaces. You can also create your NFTs here and upload them to sell at very low fees.
But we want to inform you about some of the top NFT launch pads where NFTs are being sold at very high rates and with public demand. Most of these platforms are built on the Ethereum blockchain and due to the high gas content of Ethereum, there is a platform fee of about $120.
And transaction fee depends upon the amount being transferred on the blockchain from the crypto wallet.
- OpenSea.io
- Axie Marketplace
- Crypto Punks
- NBA Top Shot
- Rarible
- Foundation
- Super Rare
- Air NFT
- Mintable
- Nifty Marketplace
Most Expensive NFT
As we have already told you that NFT does not belong to me, any buyer can buy it at any rate as per his wish. And the designer who created the NFT can send it at any price according to his wish, today we are telling you about five such NFTs which were bought at the highest price.
- Beeple – EVERYDAYS: THE FIRST 5000 DAYS – $69.3m
- Beeple – Human One – $28.9m
- CryptoPunk 4156 – 2,500 ETH ($10.2m)
- CryptoPunk #3100 – 4,200 ETH ($7.67m)
- CryptoPunk #7804 – 4,200 ETH ($7.57m)
FAQs
NFT is unique cryptography. As we know, Bitcoin quantity is much more than this. Hence, Bitcoin is not an NFT. It is a cryptocurrency that works on a blockchain platform.
NFTs are rare artwork that is stored on blockchain technology. Nobody can steal and copy them. Hence, NFT is priceless artwork similar to art galleries.
Anyone can create NFT. He/she must have a crypto wallet to pay the NFT marketplace fee and receive NFT payment in his/her wallet.
0 Comments