Non-fungible tokens (NFTs) have become popular in the world of Cryptocurrencies and digital assets, with a market reaching over $40 billion valuations in 2021, and its holdings still strong in 2022.
NFTs are units of data that represent digital items, and they differ from fungible tokens like bitcoin, ethereum and dogecoin in the sense that Fungible tokens are divisible and are not unique whereas, NFTs are not divisible and are unique. Both fungible tokens and NFTs use blockchain technology.
A blockchain is a distributed database. Blockchains store the data as blocks that are linked or chained together by cryptography. NFTs are registered on a blockchain which ensures their uniqueness. An NFT contains unique metadata and identifiers that distinguish it from other NFTs.
NFTs are usually created by a process called Minting, usually on Ethereum, Solana, or Tezos blockchain. There are plenty of marketplaces to acquire NFTs, some of which have a specific focus.
- Crypto.com: the Overall Best Marketplace for NFTs
- NFT Launchpad: a Fast-Growing NFT Platform with Exciting Collections
- Binance: one of the Lowest Fee NFT Trading Platform
- OpenSea: The most renowned NFT Marketplace with Huge Asset Selection
- Nifty Gateway: The best NFT Platform for Rare Drops
- GameStop: an upcoming NFT Platform for Blockchain Gaming
- DraftKings: a Popular NFT Marketplace for Sports Collectibles
- Rarible: The Leading NFT Art Marketplace
- WAX: which is a widely-Used NFT Marketplace with Over 140,000 Assets
- Foundation: a Premium NFT Marketplace for Exclusive Art
- Larva Labs/CryptoPunks: a diverse digital art project such as s Autoglyphs, and other blockchain-based app development projects.
- SuperRare: a marketplace for digital creators.” e.g. art, videos, and 3D images, and collectors can purchase artwork using Ethereum.
Which have you tried out and which do you consider the best. Drop a comment below.