NFT tokens – where and how to buy?

NFT is one of the technologies that has recently begun to gain popularity – the solution can change many areas of our lives, and it is also ideal for investment. Not surprisingly, more and more people are considering buying NFT tokens.

Blockchain technology and cryptocurrencies (also known as virtual currencies) are among the most important technologies of the 21st century. They redefine the financial sector and allow us to revolutionize many areas of our lives. NFT tokens, which have recently gained popularity, may soon join this group. From the point of view of people unfamiliar with the subject, it is difficult to understand the phenomenon of technology, so it is worth explaining at first what all the NFT is.

What is NFT?

NFT (Non-Fungible Token) is a type of cryptographic token based on blockchain technology, which is something like a virtual book, where all assets and transactions are recorded in a huge, decentralized database. The main thing is that this database can not be fake and counterfeit, and transactions recorded there are not refundable.

NFT tokens are an alternative to traditional art and real money based systems (photo: Wikipedia Mario Taddei Neoart3)

As for NFT tokens, the important information is that each of them contains unique information that allows it to be distinguished from other tokens and is easy to verify (thanks to blockchain technology, it is possible to reliably verify the given number. The file is unique).

An NFT logo can be compared to an autographed photo of your favorite athlete or singer – such an item is more valuable than an ordinary photo.

We can say that we are dealing with something like a digital certificate. Each NFT label is different and has no analogue – it has a unique value, cannot be edited or falsified. It can also not be transferred without the consent of the owner. All this makes the tokens ideal as proof of authenticity, because the owner of the given token also becomes the owner of the given goods. These features were quickly used by the developers.

Are NFT tokens a good investment?

NFT tokens were of interest at first. In 2012, the so-called experiments Colored coins – the main units of Bitcoin, which can represent different types of value (they were used in various applications – as coupons, company shares, logo tokens or simply collection items). Meanwhile, other projects using NFT have emerged (such as Rare Pepes memes or CryptoPunks pixel portraits).

CryptoKitties gameNFT tokens gained popularity in 2017 thanks to the game CryptoKitties

The technology gained popularity in 2017 thanks to CryptoKitties, a virtual game that allows virtual cats to be adopted and traded – NFT tokens contribute to their uniqueness and originality. The launch of the game coincided with the growing popularity of cryptocurrencies, which allowed players to trade pets for virtual money (the most expensive after the conversion was worth $ 100,000!).

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The real boom for NFT tokens did not begin until 2021. They all thank artists, celebrities, influencers and even athletes who have started publishing virtual works bearing the NFT logo. As you can guess, there are a lot of people who want to buy such works. Some people are willing to spend millions on them – for example, 5,000 graphics collections by Beeple, which sold for more than $ 69 million (the most expensive NFT token ever sold). Customers see a unique product with collector value here – of course, there are hopes that its value will increase over time, so it can be a good investment for the future.

Examples of NFT tokens

An NFT token can be virtually any digital work – for example:

  • graphics, mem
  • sound file
  • video file, animation
  • virtual avatar
  • in-game element
  • collector cards
  • music

The main feature of NFT is that it is not convertible. This means that each such work must be unique or appear in a limited number of parts.

How and where to buy NFT tokens? See NFT exchange

After all, NFT tokens are becoming increasingly popular among customers. For ordinary Kowalski, the mechanism of purchase may not be clear, but in fact, the purchase of an unchangeable token is possible for virtually anyone interested – using cryptocurrency exchanges, as well as platforms designed to trade such tokens. You can easily find such places on the Internet, but below are some of the most popular and important examples.

First of all, it is worth checking the stock exchange Open sea – this is one of the main places to buy (and sell) NFT tokens. Here you will find works of art, internet domains, trading cards and even goods from the world of sports. Trading takes place in a transparent environment, and even less experienced users should be able to manage it.

OpenSea - NFT exchangeOne of the hits of the OpenSea exchange is Political Punks – a collection of 500 avatars depicting politicians, celebrities and criminals

Rarible is another great NFT exchange platform, but designed for more advanced users. The main items on the exchange, along with works of art, are computer graphics, audio files and video materials. Add to that the fact that Rarible is also a good place to sell your tokens (it recently introduced a free NFT emission feature). Traders carry out accounts on special RARI tokens (the platform receives a small commission for the sale of works).

SuperNadir is a place that specializes in the trade of rare, rare works – basically you can find single editions of works of art that attract true connoisseurs and collectors. Each list is created by the artist and marked in a unique way. TIME magazine once put on the cover of archive magazines in the form of NFT.

Coinbase Until recently, it was associated with the cryptocurrency exchange, but soon NFT (Coinbase NFT) will begin to act as an exchange instrument. The platform will start in 2021, and those interested in cooperation can now join the waiting list – if everything goes as planned, it will definitely be one of the largest NFT exchanges.

Crypto.com - Snoop Dog offerSnoop Dogg’s works can be found among others on the Crypto.com platform

Crypto.com is one of the largest platforms for cryptocurrencies, but more recently it has also been involved in NFT trading – the creators focused on exclusive access only to invited people, which should theoretically affect the interest and quality of services provided. Crypto.com presents works by music and sports stars (including American rapper Snoop Dogg).

If you have traded with NFT, be sure to let us know which platform you are using and how you value its service.

NFT – revolution, or rather temporary fashion?

Blockchain experts are divided into NFT. Proponents point to the uniqueness and impossibility of digital tokens. Technology is often presented as the future of the digital market, which has the potential to change ownership (especially at a time when we are increasingly exposed to virtual goods). Technology also has its rivals, who consider it the fashion of the moment. There are claims that the speculative bubble and even is a dangerous practice for the entire cryptocurrency industry. However, it is difficult to judge the future of non-exchangeable tokens.

Technology is currently experiencing a boom, and growing interest in NFT has increased the availability of exchanges and exchange platforms – now getting tokens should be virtually no problem for anyone. All you have to do is enter the stock exchange you prefer, choose the job you are interested in and go through the sales process. The NFT sales process is similar. Some platforms offer wizards here that make it easy to mix your suggestions. However, it should be noted that major oil exchanges require a commission for transactions.

Picture at the entrance: Marco. Verch, ccnull.de, License: CC-BY 2.0

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