NFT is a digital certificate that represents a unique object.
We can attach NFT to any digital product, for example – image, video, audio, etc.
The token will contain all information about the product.
A token is an exclusive right to a product. By owning, buying, selling or exchanging a token, we perform all these operations with the product itself.
Since tokens are stored in an open and distributed blockchain, information about this product, its owner and the history of transactions with this product will always be available and reliable.
NFT technology potentially allows you to tokenize, that is, transfer to the blockchain, any product. Even physical.
And digital goods are ideal for tokenization by their very nature.
Where is NFT already working and how it is changing these areas.
Games are now the largest sector of the digital economy with many completely non-interchangeable items.
And they can greatly benefit from the implementation of NFT. Each in-game item becomes more valuable by being tokenized. This means that the game itself becomes more valuable for the user.
Any asset in a blockchain game is easily transferable by nature. Therefore, games can become a real income for many.
In the most probably famous crypto game Axie (Axi) Infinity Some players from third world countries earn more in games than they would earn offline.
- Axie Infinity— The largest crypto game ever. We need to breed mythical creatures, Axie. Inspired by the Pokémon universe. Pets can fight. For them, you can buy land and build your kingdom.
- Gods Unchained is a classic card collectible.
- Neon District— Cyberpunk RPG.
- Sorare – football manager + collectibles.
- CryptoKitties – CryptoKitties breeding game. Actually, it all started with her.
CryptoRenaissance – you can call what is happening now with art thanks to the NFT.
Habitual values change before our eyes and are reflected in art. “Crypto art” is a very broad term.
Just like 5 centuries ago, a technology arose that turned everything upside down. Then it was typography. Now – blockchain.
And, the artists received financial support, which allows them to devote all their free time to creativity and explore with its help the changes that are taking place in society.
The programmability of NFT allows, for example, to make royalties automatic. That is, you will be able to receive% from each resale of your work. And it will not depend on the willingness or unwillingness of the middleman to pay you. The commission is registered in the smart contract and will go to your crypto wallet automatically.
It’s better to start buying with inexpensive lots on Rarible or OpenSea.
You will not be able to resell every NFT for a higher price, so buy the work that you would like to own. Or the work of the author you want to support.
Do not forget that in addition to the price of the NFT itself, you will need to pay for gas.
Depending on the network load, this can cost you 0.03 – 0.07 ETH.
Purchases are instant, there are auctions.
It’s easier to buy on Rarible, it’s more difficult on OpenSea – a new entity wETH or wrapped ether comes into play there.
It was invented in order to save on gas, so take a little complication with understanding.