What is an NFT? NFT meaning & beginners guide to investing
Through this guide, we will explain to you clearly and simply everything you need to know about NFT, and how everything in this world of blockchain technology works.
You had the opportunity to see the huge money that some artists have earned thanks to blockchain technology. Everyone now wants to try their luck, and make or buy NFT.
However, on many pages you will find complicated and expert explanations, and we will explain it to you a little more clearly and simply.
If you think that you are late to get into the NFT game don’t worry, just because you are currently reading this article, you have an advantage over others, who think that this is atomic physics and ordinary gambling that is not worth investing in.
NFT has become so popular that celebrities have decided to invest and make their collections and NFTs.
Since one of the main things is the community that is part of a particular NFT, it is no wonder that those who follow millions of people on social media want to make their NFT collections.
Because they bring together a large community, and this allows them to instantly grow the need for their collection, such as solamanders. You know the rule of supply and demand is one of the main foundations and fundamentals in any business.
NFT and Blockchain technology
NFT or in other words called non-fungible tokens, means an irreplaceable type of digital asset.
It is based on blockchain technology, which is a database that is not in one place but consists of smaller connections (blocks) that are digitally interconnected, and contain information about digital transactions of any kind.
Thus the name blockchain is the chain of blocks. NFT can represent almost anything, from music to texts, audio files, maps, real estate, art, and other types of property, all that is unique and irreplaceable.
- Blockchain technology
Unlike classic technology, blockchain technology enables communication with several computers (servers) between which the transaction is performed.
The blocks are inextricably linked thanks to the code (each of them has its own unique ID) and any change of data on transactions performed, including their deletion, addition, and any other form of falsification, is not possible.
Unlike banking and administrative officials, blockchain never makes mistakes.
Because it seems easier to trust this type of technology, without unnecessary paperwork and administration, as well as waiting in lines.
Even banks, well-known brands, and companies are deciding for this type of business.
- NFT Marketplaces and fees
Choosing a market is one of the most important things before you start investing, and creating NFTs. There are various markets at the moment, but the question is how much you are willing to set aside for the necessary fees.
One of the best markets right now are; DigitalEyes, OpenSea, SuperRare, and many others.
In some cases, you will also have to pay double as opposed to some less mainstream platforms.
You will also need to choose the right currency, there is an option to convert fiat currency to cryptocurrency, but only certain cryptocurrencies correspond to certain markets, so be careful.
NFTs projects to invest in 2022
The best NFT projects you can invest in are Solarians, Degenerate Ape, and Meerkat Millionaires Country Club.
These are robots, monkeys, and cats that have certain characteristics and special features that set them apart, but it also makes them part of the same whole.
More and more people are turning to blockchain business for several reasons, the security of their assets, speed of transactions.
Also the community participation, and the uniqueness of the blockchain system, the inability to change data, and investing in the future.
Sometimes it seems that NFT has become one of the status symbols in some way and that all this is just the beginning.
The goal of each of these NFT projects is to make money, connect and meet other people.
People who lead a different life in the real and virtual world, where your freedom and creativity are sought rather than suppressed.
Don’t worry, now that you know all the basics, you’re ready to enter the NFT world.