Get familiar with NFTs
Innovation. This is one of the most interesting characteristics of the digital world. Although it seems that everything has already been discovered or created, something new is always generated, which ends up surprising us and even, in some cases, opening doors to a completely new world, full of potential and multiple options. This is the case with blockchain technology.
Blockchain is a software that allows and facilitates the exchange of digital units of value since it works as a type of database. Through a blockchain network, it could be stored, tokenized, and exchanged a wide range of options: currencies, property titles, or even votes. Blockchain technology is closely related to cryptocurrencies and NFTs since they are the databases that sustain these assets.
Understanding what NFTs are
Everyone is talking about them. NFTs have gained a lot of popularity in recent times, to the point of becoming one of these terms that everyone knows about, but few really comprehend. Explained in the right way, NFTs terminology do not need to be particularly difficult to understand.
NFT stands for non-fungible token. They are one-of-a-kind, non-interchangeable units of data that behave as digital assets, meaning that they can be sold and bought like any other property, although they are not tangible.
After reading that definition, one may think that NFTs and cryptocurrencies are the same. But, they differ from each other because NFTs can not be traded for each other since they are unique digital assets, no two non-fungible tokens are the same. Thus, they can not be interchanged at an equivalent rate or shattered into smaller units, as we normally do with currencies or physical money.
They are considered modern-day collectibles and high-value crypto assets due to their exclusivity. Every NFT contains a certificate of authenticity, and there is a record on the blockchain of who owns the digital token.
NFTs are also known as cryptographic objects since they are closely related to the world of art and entertainment, although they are used in a wide variety of markets. Among the buying and selling options, we can find tweets, memes, GIFs, digital works of art, video game skins, collectibles, sports cards, drawings, and many more.
Although each non-fungible token has its property certificate, its distribution is not limited by copyright. Therefore, an NFT proprietary what really owns is the digital token that indicates that they hold the original work, although anyone can copy the digital art. This generates a lot of controversy and questions about the viability of these assets in the long term, but some compare having an NFT to owning an object autographed by a celebrity, anyone can see what the autograph looks like by doing an internet search, and they can even share it, but there is only one person who posses the autographed object.
The NFT phenomenon
NFTs have generated a revolution in the way we interact with digital belongings. These digital assets are exponentially gaining popularity, and it is expected that this industry will continue to grow considerably due to how commonly accepted the blockchain world has become.
That is why every day the demand for these tokens increases. The essential step to entering to this world is to know the platforms where NFTs are traded. Several sites are dedicated, exclusively or in conjunction with other services, to the sale and purchase of these non-fungible tokens. Deciding which platform to join depends entirely on the specific requirements and tastes of each consumer. However, an essential condition to start trading NFTs is to have a crypto wallet because transactions are carried out using mostly cryptocurrencies. There are very few options that allow the use of other payment methods, so it is highly recommended to obtain a crypto wallet.
Once the wallet is obtained, the next step is to create an account on the chosen platform and associate the crypto wallet with it. A very easy way to bypass the SMS verification process when creating an account on one of these platforms is by using our phone verification service. At Major Phones, we are committed to offering a quality service that guarantees our clients the correct verification of their accounts.
Trade NFTs like a pro
As we said, there are multiple NFTs’ marketplaces. Let’s see which are some of the most influential and important platforms to convert digital files into crypto-collectibles and commerce with them.
Considered the best and most popular marketplace to trade NFTs, OpenSea was the first platform that allowed the commerce of NFTs. It has a wide and varied catalog of options that are classified into more than two hundred categories. In this marketplace, users can trade with different kinds of digital assets, not only artwork.
As a requirement for its use, it is essential to have an Ethereum wallet in order to be able to carry out transactions, since it is the blockchain used on this site. An interesting characteristic about its marketplace is that it is decentralized: all operations are made through smart contracts.
This platform is a flagship in the world of blockchain. Known primarily for being a cryptocurrency exchange, Binance has entered the NFT market. Therefore, this platform has become the perfect place to bring together lovers of fungible and non-fungible crypto assets.
Many of the functionalities of this market relies on Binance Smart Chain, but it is also compatible with the Ethereum network. As its NFT trading platform is directly connected to Binance Exchange, it is one of the few sites that allow credit card payments, albeit indirectly, since the transaction to convert conventional money into cryptocurrencies happens within the platform itself. In addition to offering the service of buying and selling NFTs, users can purchase mystery boxes that contain unusual NFTs.
Famous for being the platform used by some of the most famous vendors, Nifty Gateway relies on the Ethereum blockchain. It is known for being the marketplace where only sellers with a certain reputation are found. On this platform. Beeple sells his works. He is the creator of the most expensive NFT that has been sold in history, which price was $69 million.
Nifty Gateway is not completely decentralized since the cryptographics are not stored in the blockchain, but on the platform itself. It is recommended that to use this platform members should have some expertise in the world of NFTs. Nevertheless, it is one of the friendliest marketplaces for users who are new to the cryptocurrency niche because it allows making payments with a credit card.
Don’t waste time and start diving into the deep waters of the digital world. Sing up now!