We all have been hearing of NFT and it's progress in Blockchain.
The acronym NFT means Non-fungible Token.
NFT is a digital asset that cannot be interchanged.
For Example: Btc, Eth can be swap to usdt or any other coin but NFT cannot.
WHO CAN CREATE NFT
There is no special person who can crete NFT. Anyone can: artists,content creator.There is no special experience to create an NFT, as far as you are able to support your project to sell.
TYPES OF NFT
METAVERSE: This one consist of visual world
GAMES: NFT can you used for digital games.
DIGITAL ART WORK: These consist of videos or images
UTILITY: These are items having a specific function.
What do i need to begin my NFT journey
Download wallet
There are many wallets like trust wallet, meta musk. But i prefer metamusk because that is what i use.
Make sure you copy your secret words and keep in a secured place.
NFT MARKETPLACE
These are place where you can sell or buy NFTS
There are 5 popular NFT Marketplaces:
4.Nifty Gateway
(Niftygateway.com)
5.Foundation (Foundation.app)
All these marketplace can be connected on your metamusk using the browser on your metamusk
TERMINOLOGIES USED IN NFT
BUY: This is purchasing an NFT
We have the Ethereum Blockchain. You must have Ethereum before you can buy purchase any NFT.
We have other Blockchain like the pologon,matic and solana Blockchain.
LIST: This is placing your NFT in Any market place for sell
DELIST: This is when someone cancels listing or list below the floor price.
FLOOR PRICE:Thisis the lowest entry price for any NFT Project.
MINT: This is the process of publishing NFT on Blockchain so people can see and purchase at the lowest price.
Thanks for reading
