From the first NFT creation, Quantum, minted on the Namecoin blockchain by Kevin McCoy in 2014, to the Dapper Labs 2017 Ethereum-based project, CryptoKitties, that brought NFT implementation into the limelight, we’ve seen a surge in NFT projects with substantial levels of success, especially in the metaverse. The crypto space has ever since been buzzing with NFTs that everyone on Berners-Lee’s World Wide Web is pressed to at some point ask, what is NFT?
What is NFT?
NFT is an abbreviation for Non-Fungible Token. Non-fungible means a thing is unique and irreplaceable. An NFT cannot be substituted for another as each is distinguished from the other by a unique identification code. Although NFTs also operate on a blockchain, they differ from cryptocurrencies, which are fungible (exchangeable)— one Bitcoin equals another. NFTs are digital representations of assets which could be real-world items like artwork, comic books, music, and even video clips. You can create NFT for literally every real-world tangible item.
Real-world assets are tokenized to make their trade much more efficient and potentially mitigate fraud.
Where to Get NFTs
If the concept of NFTs excites you, ‘how to create NFT’ is probably the next string of words you’re planning to type on Google, or maybe where to get NFTs.
There are some NFT marketplaces you can create, buy or sell NFTs. They include:
- OpenSea, one of the largest, covers art, fashion, games, and music.
- NBA Top Shot for trading basketball video clips.
- Nifty Gateway enables buyers to trade artworks with long-term value.
- Rarible, where users can create, sell and purchase ownership rights to digital artworks via NFTs.
The NFT search gets even easier with the emergence of Chainers Metaverse, a free P2E NFT games platform designed to offer immersive social and imaginative experiences.
Chainers.io is redefining the metaverse movement by introducing a unique approach to gamers’ interaction with digital currency through its Polygon-powered immersive platform.
Chainers Metaverse offers gamers free NFTs every time they use the platform. It allows them to evolve and grow their NFTs in worth and value by playing games, building and creating assets they can exchange on the market, and participating in events just as in the real world. There are cars, bikes, plots of land you can purchase to build houses, pieces of furniture to design or build, and everything you can think of in a real-life setting.
This virtual community also permits users to create their games and be part of the decision-making process of the games to be integrated. It’s an avenue to compete, interact and have fun with other community members.
Here are some significant NFT sales to warm up whatever cold feet you’ve got regarding NFTs:
Beeple’s Everydays: The First 5000 Days sold for 38,525 ETH ($69.3 million), while the Human One sold for 4700 ETH ($28.9 million).
Julian Assange and Pak, Clock sold for 16,593 ETH ($52.7 million), and Chain CEO Deepak Thapliyal bought CryptoPunk #5822 for 8000 ETH ($23.7 million).
Chainers incentivizes gaming by enabling gamers to monetize their effort in the web 3.0 space using augmented reality (AR), with over 100 levels of NFT progression and 1000+ unique NFTs up for grabs. Also, it shares much of the platform’s revenue with the community. So don’t get left out; start your NFT journey with Chainers Metaverse. Sign up on chainers.io and get free NFTs.
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