What Is an NFT & How to Create One?
Nov 3, 2022•3 min read
What is an NFT?
NFT stands for Non Fungible Token. Non-fungible means it cannot be exchanged for something of similar value. A token is a blockchain-issued digital asset. Additionally, a blockchain is a method of storing data that makes it challenging or impossible to alter, hack, or defraud the system.
In other words, an NFT is a unique and secured digital certificate/signature that can be attached to any object, physical or virtual. NFTs may be used to represent things like digital files for audio, video, and other media. However, the purchaser of the NFT is not the only person who may access any duplicate of the original file. Although anybody may make a duplicate of these digital goods, NFTs are recorded on blockchains to give the owner an evidence of ownership that is distinct from copyright.
How to create and sell an NFT?
If you want to create and sell NFTs, the process is really quite simple:
1️⃣ Step 1: An individual (or company) selects a unique asset to sell as an NFT.
2️⃣ Step 2: They add the object to a blockchain that supports NFTs through a process called “minting,” which creates the NFT.
3️⃣ Step 3: The NFT now represents that item on the blockchain, verifying proof of ownership in an immutable record.
4️⃣ Step 4: The NFT can be kept as part of a private collection, or it can be bought, sold, and traded using NFT marketplaces and auctions.
Nowadays, the creation and sales of NFTs is getting more and more popular by both individuals and organizations because NFTs have been making headlines across multiple platforms. Many innovators, artists, and even powerful corporations are eager to profit from this activity.
Take the case of Instagram as an example, at the beginning of November, the parent company Meta announced that Instagram was going to create a minting and sales tool for NFTs within its app. With the help of the future "end-to-end toolkit" for NFTs, users will be able to design and sell their own NFTs for sale on Instagram.
GameFi.org Digital Collectibles coming soon
GameFi.org Digital Collectibles - the marketplace of GameFi.org is going to be released soon. It is a destination for users to explore, collect and trade Web3 digital assets: in-game items, avatars, and arts in the form of NFTs.
✅ This new feature offers 3 core functions which include:
- NFT Asset Management: research, trade, and manage your NFTs via one virtual profile throughout the GameFi.org ecosystem.
- NFT Research & Analysis: get data & insights on NFTs across the market for your investment.
- NFT History Record: track the on-chain trading history of your NFTs.
✅Coming to GameFi.org Digital Collectibles, you can gain lots of wholesome benefits:
- Get access to selected digital assets collections of GameFi.org’s valuable partners.
- Get the most information about the NFTs with data collected by GameFi.org and provided by the projects themselves, which will effectively support users to do their own research for potential investments.
- Digital Collectibles users and collection owners can feel reassured to enter the marketplace of GameFi.org with reasonable transaction cost and favorable platform fee.
Want to know more about GameFi.org Digital Collectibles? Explore GameFi.org Digital Collectibles now: Digital Collectibles: The Marketplace Of GameFi.org
Stay tuned for the feature to arrive on November 8, 2022 on its landing page here: https://gamefi.org/nft.