What does NFT mean? Where-to Buy, Sell, Platforms 2022

What is NFT? Definition buy sell platforms

These days people are talking about NFT. Everyone wants to buy it or sell it. But what is it? What does NFT token mean? Where do you create it? Which are the best platforms? Or how do you get an invite and start making and trading NFTs? We have your answers.

If you have or need invites for those NFT platforms, you can join egorithms’ discord server. Have fun!

What does NFT mean?

NFT is a non-fungible token based on blockchain, which records a copyright asset. The blockchain technology allows you to track digital assets and get paid for buying or owning them.  

You may have already heard about crypto art. Well, this is the spin-off.

What is an NFT (Non-fungible) token?

The NFT token is а bargaining chip which turns digital assets into valuable pieces of art. But not only that, NFT is more than just a token, but perhaps a more fair system for opyright! 

What is NFT crypto?

NFT stores information thanks to blockchain technology. And blockchain is a technology for crypto. So in other words, cryptocurrency makes NFT work – for example Bitcoin, Ethereum, Dogecoin and so on.

Most NFT (tokens) are powered by Ethereum. 

Why pay for NFT when you can download or screenshot?

In February an image of the Nyan Cat meme was sold for $600,000. This happened in an online auction. But how did this happen and why get paid, when you can simply download a picture? Or screenshot it? Well, this is perhaps a simple and very logic question.

The truth is that NFT is a revolutionary concept for fair use. It makes it easier for artists and creators to receive the recognition which they deserve and get paid for it. Think of it as a patent. Or a trademark. Or a certificate for ownership. This Blockchain based system is the technological solution to billion lawsuits and legal reforms such as Article 13 in the EU.

How do NFTs work?

The digital information and “history” of transaction and ownership is stored in a digital ledger. This digital ledger is crypto. 

Еach NFT is unique, therefore each digital asset becomes unique and valuable on its own. Not interchangeable.

What is a non-fungible asset?

A non-fungible asset or a non-fungible token is the digital “data” that saves all the information of digital files. non-fungible assets have a lot to do with virtual currency.

How to create NFT?

The process of creating NFT is called minting. You make it on Blockchain technology.

In order to make an NFT asset you need to register for the right platform. There you can create artwork or other valuable digital creation based on NFT. That is the easiest way to create, sell and buy them online now.

The full tutorial on How to Create and Sell NFT Art?

a step-by-step tutorial

How to earn money and get paid for NFT?

You can earn money by attaching a “commission” to your Blockchain-based file. After that, you have to use a platform and put on your asset for sale.

That way you get paid whenever someone buys, sells or resells your digital piece.

This is a new copyright fair use system which is perfect for creators, artists, digital artists, video creators, graphic designers, New Media Art lovers and Crypto Art artists.

Where to buy NFT?

You can buy NFT on digital platforms. Or apps. Or other websites. Here are some places where you can buy NFT:

  • Rarible
  • SuperRare
  • Nifty Gateway
  • OpenSea
  • Axie Marketplace
  • BakerySwap
  • Foundation

Where to sell NFT?

You can sell your NFT (tokens) on those same platforms. Easy, huh?

Digital art and tokens: What is artwork with NFT?

For example, once a digital artpiece is based on NFT, this is equivalent of a critic reviewing and evaluating your artwork. From now on, everyone someone sells or buys your art, you get paid for it. And you can track all the transactions.

Best NFT apps right now 2022

You are probably wondering… So which are te best apps for NFT buy / sell and trading. Well, nice question. Here are some of the best NFT apps which you should look for:

  • Opensea – the biggest platform right now
  • Decentraland – VR world and a market place at the same time
  • Mintbase – you can easily create artwork there
  • Rarible – feels like deviantart on acid
  • Foundation.app – great for digital artists, invite only

If you have or need invites for those NFT platforms, you can join egorithms’ discord server. Have fun!

More: Full Guide on NFT Stocks

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