15 things to know about NFT

What is NFT? And why is everyone suddenly talking about this popular crypto asset? Essentially, non-fungible tokens are digital assets that represent various tangible or intangible items. You can purchase a virtual sports card, a cat, a piece of art, or even a pair of sneakers.
To get started, investors should be aware that NFTs are rapidly gaining popularity. As Morning Brue wrote recently, the digital asset market has grown to $ 250 million in 2020. This comes alongside wider interest in digital currencies, especially as Bitcoin (CCC: BTC) hit an all-time high above $ 60,000.

With that in mind, here’s what you should know about NFT right now.

1. According to experts, one of the benefits of owning NFTs is that they come with identifying information that proves they are different.
2. To further protect creators of original content, opensea (main nft market) teamed up with @Adobe to help creators sign content credentials directly onto their NFTs in Photoshop🎨Alex Atallah twitt

3. Another thing to note about NFT is that you cannot directly share them.
4. The NTF already contains arrays of genetic sequence information
5. This is because no two NFTs are alike.
6. You also cannot split one NFT in two. They exist only as whole objects.
7. Most of the NFTs are based on two different Ethereum standards: ERC-721 and ERC-1155.
8. However, there are other NFT standards available on other blockchains.
9. Investors should note that although NFTs are growing in popularity, they are not new.
10. Some of them have existed since 2012.
11. In addition, most credit crypto wallets in 2017 included NFT in the mainstream.
12. At CryptoKitties, you can purchase digital cats for collection or breeding.
13. Other applications include Nike (NYSE: NKE) digital sports kart and sneaker platforms.
14. Recently, we have seen artists use NFT to sell digital artwork.
15. 3D interactive nft looks very cool although they are expensive. (https://opensea.io/collection/generative-3d-proteine
https://opensea.io/collection/3dpunks
https://opensea.io/collection/3d-masks)

Why NFT is allocated now
So why is NFT so popular now? And why should investors care about buying and trading virtual sports cards or art? Well, the size of the market itself should be a good enough reason to pay attention to this. Some of the best NFT artists make $ 6.6 million per work.
But beyond that, the trends supporting the cryptocurrency space are also driving the growth of NFTs. As Felix Salmon wrote for Axios, now is the perfect time to get NFT up and running. There is a surplus of wealth and liquidity in the market, especially for early crypto winners. Tech stocks are (mostly) rallying and interest rates are near zero. There has also been an increase in gamification and speculation. Who wants to miss out on huge profits from the hot newest thing?
There is also a two-way incentive for investors to participate. First, there is a kind of nostalgia or emotional attachment to some NFTs. One of the most expensive NFTs is CryptoKitty, worth 600 Ethereum (CCC: ETH). But investors also have a chance to buy NFT and make money selling it for more.
Finally, there is reason to believe that it benefits artists and other creators. While major players like Christie’s come into play, NFT has historically allowed artists to bypass these systems. In other words, they can make more money on every sale they make by paying less to the middlemen.

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