NFTs are quite the word we’ve all been hearing since 2021. The Urban Dictionary even declared it the most searched word of the year. If you’ve ever searched to find out what these NFTs are, you’ve probably come across an answer that said something like non-fungible, unique token, etc. Keep reading this, and I’ll take you on a tour of what these NFTs are, how do you buy them, where to buy them, and more. Fasten your seat belts to gain NFT knowledge.
What are NFTs?
NFTs are non-fungible tokens that represent a digital asset in the blockchain. Was it hard to understand? So they are basically digital tokens that represent any form of asset; these tokens are minted in the blockchain and cannot be changed; see, that’s where the non-fungible name comes in. They can be any type of asset: digital art, photography, song, etc.
Now I’m sure you are already thinking where you can see these NFTs or get the chance to buy the NFTs? This is where we come in.
NFT Marketplace – One stop destination to trade NFTs
An NFT marketplace is the platform where users will be able to buy and sell NFTs. It is similar to an e-commerce marketplace except that users will be trading digital assets here instead of physical products.
There are a number of NFT marketplaces that are being built daily. Let’s take a look at the top 5 live NFT markets.
OpenSea is the godfather of all NFT markets. It was founded in 2017 and crowned itself as the leader of the NFT economy when the market skyrocketed in 2020. Since then, the maximum number of NFT transactions have been held in OpenSea.
This beginner market from GuardianLink caught on in a very short time. It houses NFTs, brands and celebrity NFTs, etc. !
Rarible is another NFT marketplace that has been around since the beginning of the NFT era. This Russia-based marketplace has lots of interesting artwork minted as NFTs for sale. If art collectibles are your thing, then Rarible is the place to be.
4️⃣ super rare
SuperRare is a mix of both pop culture social media platform Instagram and historic art auction house Christies. It’s a new way to interact with art, culture and collecting on the digital platform.
Foundation is an Ethereum-based NFT marketplace founded in 2021. It is an invite-only platform where creators need to get an invite code to mint their artwork as NFT. They are building a new creative economy where artists can create works that will add value on the Ethereum network.
So, yes, we are coming to the end of the journey. Hopefully you now have a bit of knowledge about what these buzzing NFTs are and where you can find them. Now go ahead and browse these NFT markets to better understand these new age assets. If you’re so curious, try buying one or two, but make sure you buy NFTs at a price you can afford.