NFT, short for Non Fungible Token is a unit of data stored on a digital ledger called the blockchain. NFTs are currently taking the digital art and collectibles world by storm. Digital artists are seeing their lives change thanks to huge sales to a new crypto-audience.

They can represent any real world objects like art, music albums, sneakers, you name it. It uses the same kind programming as cryptocurrency, like Bitcoin. At present a majority of NFTs are stored on a blockchain called Ethereum. Bitcoin has a blockchain of itself but it isn’t NFT compatible. 

NFTs have some special properties:

• Each token minted has a unique identifier.

• They’re not directly interchangeable with other tokens 1:1. For example 1 ETH is exactly the same as another ETH. This isn’t the case with NFTs.

• Each token has an owner and this information is easily verifiable.

• They are live on Ethereum and can be bought and sold on any Ethereum-based NFT market.

If you’re keen to start your own NFT collection, you’ll need to acquire some key items:

• First, you’ll need to get a digital wallet that allows you to store NFTs and cryptocurrencies.

• You’ll likely need to purchase some cryptocurrency, like Ether (crypto of Ethereum blockchain), depending on what currencies your NFT provider accepts.


Article: @kevin.xavier