Non-Fungible Tokens (NFT) 101
What are Non-Fungible Tokens, or NFT's? They seem to be taking the art and gaming world by storm in million-dollar auctions. NFTs have now exploded into the mainstream with celebrities and big brands getting involved. Adidas minted some with Bored Ape Yacht Club and even McDonald's and Coca-Cola have added NFTs to their marketing mix.
Whether you decide they're a speculative fad or a great new possibility for artists, there's no denying that NFTs are making headlines, and some creatives at least have turned them into a business. So what are NFTs?
NFT's are a non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded. This is different than the dollar bill, which is physical, and interchangeable (A one dollar bill, can be exchanged for another one dollar bill and remain the same value). NFT's in comparison are unique, and once encrypted on the block chain, no two NFT's can ever be the same. Types of NFT data units may be associated with digital files such as photos, videos, and audio.
NFT's can be created like artwork, and bought and sold like stocks. There is a whole new world of of collaboration with NFTs. Here is some of our best NFT artwork and see our picks of the NFT marketplaces including Open Sea.
Also, be sure to enter to win free NFT giveaways. This is a good way to own some NFT's which may increase in value in the future for free.