Discovery of the year – NFT tokens. This is a new non-standard and very original way of earning money. Regulars of social networks, programmers, representatives of show business, designers, and creators of all stripes sell works of art, musical compositions, and ordinary “doodles” for fabulous amounts of cryptocurrency. In early summer, the trend subsided a little, but with the imminent launch of the NFT marketplace from the largest exchange Binance, it should start growing again.
What is behind universal tokenization? Is it really possible to make a fortune on NFT tokens and, for example, repeat the success of digital artist Beeple, who sold an NFT collage of his works for $ 69 million? Designers and creatives should definitely be interested in this prospect of nft marketplace development.
What are nft tokens?
NFT, or non-fungible tokens, – non-fungible tokens, – “digital property”, a kind of virtual money (cryptocurrency).
Unlike NTF, banknotes or ordinary cryptocurrency tokens are interchangeable: they can be exchanged, for example, for euros, or bitcoins for dollars. At the same time, one dollar is always equal to one dollar, and two bitcoins – two bitcoins.
This is not the case with NTF. Each token is unique and cannot be exchanged for a similar virtual bill. Hence the name – an allusion to the impossibility of exchange. But it can be created by digitizing and translating into a monetary equivalent the fruit of your works and creativity.
Tokens are born in the same way as cryptocurrencies; technically, the process of creating an NTF does not differ from bitcoins or ethers. However, this is where the similarities end.
Most NFT tokens are created on the Ethereum blockchain. The latter allows tokens to store information about the piece to which the NFT is linked. In addition, in theory, the blockchain provides a level of security and privacy at which the token cannot be hacked or stolen or copyright infringement.
Tokens: a success story
With the help of tokens, you can sell and buy real items: paintings, soundtracks, games, videos. Typically, NFT tokens are encrypted to ensure security and anonymity in use.
Tokens appeared in everyday life in 2014, after three years the proven NTF technology was launched to the masses, based on smart contracts of the Ethereum cryptocurrency. The experimenters immediately posted a portrait of the character from The Simpsons to Homer in the style of Pepe the frog. The figure was tied to an NFT token, and after a few months, its value was estimated at $ 500. And this is not the limit, because a year later there was a buyer who paid $ 38 thousand