What is NFT? How does it work? How to sell your NFT?

For a few years, NFT is getting a lot of discussion on the internet where the look of NFT is going on, you would have read and heard that a digital art of Beeple sold in /$69 million in NFT which is the world's highest NFT is sold. Inexpensive, Jack Dorsey whose Twitter is the first tweet sold for $2.9 million. But the question comes, what is this NFT? How can we sell NFT?

We will discuss NFT in this article, so read this article from the beginning to the last so that whenever an NFT discusses, you can also talk about NFT.

What is NFT?

NFT is a cryptographic token that represents something unique. This is called a non-fungible token. A person having NFT shows he has some unique or antique digital artwork that no one else in the world has. NFTs are unique tokens or rather they are digital assets that generate value.

NFT is a crypto token like bitcoin that can be used for digital assets such as digital art, music, movies, games, or any collection you have. NFT has shown a fresh path to the artists of the world of painting.

NFT is a method through which digital purchase of virtual things is done. No goods come to you and buy only virtual things which are rare. There is no other option in the world. With the popularity of cryptocurrencies, NFTs are also becoming popular, as they also run on the blockchain.

NFT is a digital object, which can be as animation, meme, tweet, arts, drawing, photo, video or music with a certificate of authenticity created with blockchain technology.

Bitcoin is a digital asset. Whereas NFT is a unique digital asset. The value of each of its tokens is also unique. If understood in simple language, if any digital artwork is established in the world of technology, then it will be called NFT i.e. Non-Fungible Token.

How does NFT work?

As I told you, NFT stores on Blockchain, with no NFT's existence, is impossible. There are so many platforms such as Binance Smart Chain, EOS, Tron, Wax. But Ethereum is the first such platform that made SMART CONTRACT and which was the first NFT crypto kitties made above. And most relevant projects related to NFT comprise Ethereum.

Any common picture or anything can be used on today's internet, whether it is a picture of someone or a Music, Video, etc. But when the same thing is made like NFT, then its use remains up to a limited. Everyone can not use it, because a tokenized digital certificate, which is kept by the store on Blockchain, made it. And whatever NFT will be the owner, if he wants to sell anyone to anyone, or similarly he could buy that certificate from anyone. The biggest advantage of this is that whenever an NFT is sold ahead, then the person who makes NFT will continue to share some percentage of it until NFT will continue to sell.

How to sell NFT?

You do not need any kind of art for NFT, you will sell it. NFT can be anything, but they should be separated from the rest if you go to sell any photo or video or anything to sell it. Selling NFT means unique ie Unique, you can sell a separate painting, or then you can sell your photo, song, or any video like NFT.

After this, decide whether you want to keep that NFT on which Blockchain, you can keep it on the blockchain of Ethereum which is most commonly used to sell NFT or you are Binance Smart Chain, POLKA DOT, other blocks like EOS can choose to store NFT.

Once you decide to buy some ether after selecting your digital art, because most of the NFT is sold on the network of NFT Ethereum, then we are following the Raible NFT Marketplace which supports the Ethereum's Blockchain Is.

And you have to pay fees to use the network of Ethereum, which is given in Ether, so you will have to buy some Ether first and whenever you list your Digital Art, give some GAS fees for it. If you say in a language, pay fees to your art list.

Therefore, if you decide to understand that you decide a lot of thinking, you will be confident that your ART will buy anybody because it seems to be a lot of fees on the network of Ethereum. However, It will be very low.

Before using the network you are using, it checks which blockchain supports Rarible, Super Rare which supports the blockchain of Ethereum.

You will need a Digital Wallet. "Meta mask" is a digital wallet you can use. It is quite easy to use, and it is also used too much. Once your NFT will bid after, your art will be bidding and with the possibility of selling it at the same expense, you can set the price of your NFT from yourself.

What is the difference between NFT and Cryptocurrency?

However, NFT also moves on Blockchain like Cryptocurrency, but Cryptocurrency is fungible i.e. we can change the cryptocurrency to each other if you want 1 Bitcoin for 1 Bitcoin, which will remain the same.

Or if you want to buy the Ethereum or any other cryptocurrency from the same bitcoin, but the same NFT NON-Fungible is you can not do this in it, you can not buy the second NFT instead of an NFT because both of them have different identities and both one The second is completely different.

Celebrities who are selling NFT

The world's focus on NFT when Mike Winkleman, who is famous as the name of Beeple, has a Digital Art whose name is "Everyday's: The First 5000 Days" sold in $ 69.3 million who brought the attention of the world on NFT.

Since then, more NFT around the world, celebrities also launched their NFT as some names like Eminem. Eminem launched its NFT to its NFT, which was named "Shady Con" which was sold for nearly $ 1.78 million. In the same way, he has also launched his NFS to his fans.

ELON MUSK's wife grimes which is a famous singer. He also launched his Digital Art "WarNymph", within 20 minutes of launching his 10 NFTS $ 5.8 million.

Similarly, celebrities such as Snoop Dogg, Shawn Mendes, Jack Dorsey have made their own NFTs by selling in millions.

Conclusion

Hopefully, you have got to know a lot about NFT? How does NFT work? How can NFT create? If you are, whether you can easily sell your NFT by visiting the Openseas, Rarible, Super Rare like NFT Market Place.

If you liked this information and if you get to know something new, then do not forget to share it, I will continue to bring information related to the world of Cryptocurrency.