The increase in the growth of cryptocurrencies after the launch of Bitcoin in the year 2009 has attracted worldwide attention. All the cryptocurrencies use some form of blockchain technology which was developed to assist decentralized ledgers. These non-fungible tokens are a blessing to this world as they have given worth to everything in this world from art to music to just a simple selfie. This innovation has taken the entire world by storm. If you are interested in bitcoin trading, Visit Site >> to find out your best trading opportunities.
Non-fungible tokens have become a huge success in the world and caught all the eyes of the interested ones within a very small span. The approximated sales of non-fungible tokens have surged to $25 billion in the last year. The crypto asset blew up in the year 2021 and resulted in high popularity and gathered the interest of many celebrities and major influencers towards these digital technologies.
Do You Know NFTs?
In very simple words, anything that is convertible into a digital or virtual form can be called a non-fungible token. Considering everything starting from the art, drawings, pictures, GIFs, in-game assets or even a post or tweet can become an NFT and can be traded by using online networking platforms of cryptocurrency.
Here a question arises: how is NFT different from other digital forms? And the answer is quite simple: it is collateralized by blockchain technology itself. Blockchain is known as a distributed ledger where all the records of transactions are stored safely and securely. It is just like the bank passbook, but the only difference is that all the transactions are secret and anyone can see it. But they are irreversible and impossible to be altered once stored in the records.
Non-fungible tokens are getting huge popularity and it is going to be bigger in the coming times. These tokens have become a widely used way to display and trade your digital art or work. To date, billions of dollars have been used on non-fungible tokens since its official launch which was in the year 2015.
A Little History of NFTs
The very first NFT was Terra Nullius developed on the blockchain of Ethereum. This project was not a huge hit and was able to only customize a short message that was then recorded on the blockchain as proof. The next project was Curio Cards, CryptoPunks, and CryptoCats, launched in the year 2017. Until this time, NFTs were not that public, and people did not know much about non-fungible tokens. These become the talk of the town in the year 2021.
Do You Want To Buy NFTs?
All those people who have a cryptocurrency wallet can easily purchase an NFT. This is the only requirement to buy a non-fungible token. To buy NFT, you do not require any KYC documentation. A cryptocurrency wallet powered by Metamask and an NFT market is all you require to trade NFTs.
People are often worried about authentic markets to sell and purchase NFTs. Below are some of the biggest markets for NFTs to sell and purchase.
OpenSea.io
Advertised and known as the biggest NFT market. Here you can find all including art pieces, in-game assets, domain names, and even digital representation of physical assets. Here at OpenSea, you will get everything you were looking for. Most importantly, this platform is just like eBay for non-fungible tokens with a huge number of virtual assets arranged into various categories and divisions.
Rarible
This platform is somewhat similar to OpenSea. Rarible is also considered as one of the largest marketplaces for the trade of NFTs. This platform also assists artists and developers to supply and sell NFTs.
Foundation
This platform is quite a unique marketplace for non-fungible tokens. This is a platform where artists get upvotes from their associated developers and designers to post their art. Artist lists NFTs for sale at a standby value. When the first auction bid is done a countdown starts for the next 24 hours. If the next auction bid is done within the next 15 minutes, the time is exceeded for another 15 minutes and it goes on.
Conclusion
The entire world has been attracted to this innovative technology due to its high profits for some special tokens. For investing in such technologies, make proper research about NFTs and especially the NFT you are going to invest in.
