Invest in tokens that are not fungible

Invest in tokens that are not fungible

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7 September 2022

What is NFT?

As cryptocurrencies such as Bitcoin are fungible tokens, they’re identical in terms of their function and also value. Therefore, they can be used as a mode of payment for transactions. This is not the case with Non-fungible tokens (NFTs) which are also cryptographic assets. Each NFT has an identification code and metadata that is completely unique to it. Hence, one NFT cannot be traded for another. Learn more about A Short Guide To Non-Fungible Tokens

In a nutshell:
• Non Fungible Tokens (NFT) indicate that a trader/buyer owns a digital asset or item such as an image, a sound file, or a text, just as people take ownership of cryptocurrency tokens.
• While cryptocurrency coins are remarkably similar and also have the same value, each NFT is unique. Basically, the worth of an NFT is equivalent to what a buyer is willing to pay to take ownership of the digital token. This worth could be much greater when the NFT is created by a popular artist and the buyer is an affluent collector.

NFTs are also based on blockchains and their digital structure can serve several purposes. For instance, they can be very effective as digital representations of one’s physical assets such as properties, cars, works of art, etc. NFTs can also function without intermediaries and thus, artists can connect with their audiences directly. This would ease up the transaction process and also create new opportunities in new markets.

Currently, the NFT market is big on digital art and collectibles like sports cards, rarities, and even memes! Twitter’s Jack Dorsey took to the social networking platform to share a tokenized version of the first-ever tweet where he wrote: “just setting up my twitter.”
Believe it or not, the NFT version fetched over $2.9 million!

How do NFTs gain value?
NFTs mark a major shift from the crypto pattern that was prevalent with cryptocurrencies. In the case of NFTs, every token is different from another and this uniqueness makes it irreplaceable. Like digital passports, NFTs are also digital representations of physical assets, each with its own unique, non-transferable identity.

In theory, NFT could be just about anything that is digital. However, at present, the tech is largely being used to sell digital art. Of course, a digital file can be copied numerous times and this would also include the art associated with the NFT.

Structurally, NFTs intend to share with you an aspect that cannot be mimicked and that is ownership. So if you buy an artist’s digital artwork, you own the piece just like you would own a painting you bought at an art gallery. But, the artist would of course have all the copyrights as well as the reproduction rights. It is basically like owning the original version of something while there may be many copies for it on the market.

For artists, NFTs can be useful for earning through their art. Every time an NFT is sold or resold, you could get a percentage of your share. This could in turn add up to making your work all the more popular causing a further spike in prices.

How and where to trade NFT
NFTs can be bought or sold on several marketplaces on the internet. The most popular ones today are OpenSea, Rarible, and Grimes’ choice, Nifty Gateway. Just like cryptocurrencies, you will also need digital wallets to store your NFTs but they do not necessarily have to be NFT compatible.

A major advantage of having the NFT system based on a blockchain is that each and every transaction is recorded. So unlike the physical world where someone could even pick up and run away with the famous Mona Lisa painting that hangs at the Louvre in Paris, this risk is nearly zero with NFTs. However, let’s not assume that NFTs cannot be stolen. It would help to learn a lesson or two from cryptocurrencies that have been stolen in the past due to inappropriate storing methods. Ethereum is common crypto that most NFT marketplaces accept. That said, since anyone can sell an NFT, they could demand any currency they prefer!

In the contemporary world, financial systems are much more secure and sophisticated. Trading systems, as well as loan systems, therefore vary for every asset right from physical properties to contracts and artworks. This infrastructure gets a complete makeover with NFTs that allow the digital representation of physical assets.

NFT blogs
Best NFT blogs that you can read and learn from? Well, they’re not easy to find because this is still a rather new domain and thus blogs are also new. But we’ve compiled a list of some of the most interesting and entertaining blogs that you can check out.

1. AirNFTs
AirNFTs is not just a platform to buy and sell NFTs. It also has vast literature in its blogs section that would be helpful for anyone looking to explore the sector.

2. NonFungible.com
This blog has been dubbed as an NFT data resource where you will find a wide range of NFT-related concepts such as trades, sales, trending NFTs, etc. It also tracks all the important marketplaces as well as projects. According to this website, the NFT market is at present worth $250 million and has the potential to attract many content creators.

3. OpenSea
Yet another popular NFT marketplace where a lot of NFT enthusiasts also engage in community-level conversations. Additionally, you will come across an interesting blog page on OpenSea where you can find out more about blockchains, security, etc.

4. NFT Plazas
If you want to learn in detail about the NFT industry, you should definitely explore NFT Plazas. offers substantial information on a wide range of related topics and you could even look at it as a news website to stay updated!

5. NFTically
NFTically is also a great platform and an NFT marketplace through which you can trade as well as create NFTs. If you are a content creator, this platform can be useful to explore various communities and also see what other influencers or artists are up to. This platform also supports a vast blog section that can be of use to both amateurs as well as seasoned NFT traders or creators.

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