At a very high level, an NFT is a digital asset that is stored and secured typically on an Ethereum Blockchain digital ledger, although other blockchains have the capabilities of holding them as well.
NFT’s can come in many different forms and can represent a variety of things. These can include, but are not limited to the following: – Music – Art – Celebritie – Collectible
In fact, the NFT space is growing so rapidly that the market for NFT’s has broken record highs in the second quarter of 2021 with 2.5 billion dollars.
To determine the value of an NFT we can refer to a very simple equation: The value of an NFT = Utility + Ownership History + Future Value + Liquidity Premium
Well first things first, an NFT cannot just simply be bought with a credit card online. NFT’s are bought and sold using cryptocurrency, which means you will need to open a digital wallet!
There are so many NFT marketplaces to choose from, but here are some of the most popular marketplaces: 1. Opeansea 2. Foundation 3. Rarible 4. Mintable