What is NFT? Know all about NFT.

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What is NFT? Know all about NFT.

Jan 17, 2022

First things first, NFT stands for Non-Fungible Token. To make things a bit clearer, it means any asset that comes under NFT will be unique and if you are trading that particular asset with another one, you will get another unique asset. Anyone working in a digital platform bitcoins etc NFT definitely rings a bell while bitcoin is a fungible asset. Our social media profiles are flooded with NFT memes and posts, so what are they any ways?

Basically, NFT can be anything, like art, music but it revolves mainly around the trade of digital art. NFT are a part of Ethereum blockchain. Ethereum is cryptocurrency that stores extra information which makes them work differently and above all unique. NFT assets cannot be downloaded free of cost, it rather gives an ownership to the buyer more like giving a copyright, like he/she only holds the original. So sharing or copying the digital assets is possible while the original stays with the person who bought the digital asset.

How can I make and Sell NFT?

And the good news is, anyone can create an NFT! Yes, you heard it right. All we need is a digital wallet, a small purchase of Ethereum and a connection to an NFT marketplace and there you can upload the content and NFT or crypto art. In such marketplace you will have to add the descriptions of your work, pricing etc.

Which are the NFT marketplace?

Some of the most common NFT marketplaces include

Wondering any fee involved? The purchase of Ethereum involves cost, but some charge “gas fee” that is the energy required to complete the transaction, so you have to be careful while dealing with NFT sites.

How can digital marketing help your NFT dealings?

NFT can help to connect with the fan base or audience directly, as we have the ownership of a unique asset, we can sell our digital products like an art or music directly to our audience or fans instead of going through middlemen or streaming platforms. And hence establishing a close contact with our fans. Moreover, NFT can be anything like art, JPEG image, GIF unlike the physical products. Also, the business can eliminate the costs like storage cost, defect rates etc. as there are no physical products. So, when you are uploading your asset in you may want to do some serious keyword research and SEO to give your product the best and catchy description ever. In addition to this, it can also be termed as an additional income to your business or firm, through unique graphic design images or posters which ultimately are NFT assets.

What are the most popular NFT assets?

Digital Art

Games

Music

Films

Memes

Collectibles

The bottom line is, new technology like NFT, bitcoins etc are drastically changing the way we perceive liquid cash. Those days are not far where we buy something from the mall and pay them with our designed images or developed games.

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