Non-fungible tokens - or NFTs - are digital assets that are typically purchased and sold using cryptocurrencies on the Ethereum blockchain. NFTs can represent a variety of different objects such as art, photos, video clips, and music.

What makes an NFT valuable?

An NFT’s value comes from its scarcity; since NFTs are usually “one-of-a-kind” or part of a limited set, they can be very scarce - thus adding to their value. NFTs are created through a process called “minting” where they are assigned a digital certificate of authenticity. Similar to traditional art, an authenticated NFT will more often than not be much more valuable than a copy.

How do I get an NFT?

NFTs are sold on online marketplaces generally specializing in specific types of NFTs. These marketplaces can sell everything from digital art NFTs to virtual sports trading cards. Most marketplaces allow you to simply connect your wallet and use a compatible cryptocurrency to purchase the NFT.

Popular marketplaces include OpenSea, LooksRare, and Rarible.

What can I do with my NFT once I get it?

It’s up to you! Some people choose to put their digital art NFTs on display at home or in private or public online galleries. You can share them with friends, family members, and on social media. Others choose to treat them like any other asset and enjoy the process of buying and selling for potential profit.

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