NFT is an acronym for Non-Fungible Token. Non-Fungible simply means irreplaceable. So basically you can’t find the same Non-fungible token unlike fungible assets like bitcoin that can be replaced with another one of the same value when you trade it.
Non-fungible tokens are more like a piece of art made by an artist, though it can be copied, the original piece is one and unchangeable. This makes it non-fungible. To get the idea of an NFT, represent the piece of art with a unique token/digital piece. Although Most Non-fungible tokens are part of Ethereum blockchain, it is possible for other blockchains to have their own. NFTs are unique tokens that act like proof that you own something; a real or virtual asset. A digital representation of an asset.
Buying an NFT
Any digital item can be bought as an NFT, however, before you buy, you have to know the type of wallet needed to keep it, the crypto required and more importantly, you have to choose the right place to buy.
Below are some of the top marketplaces to buy a NFT;
Rarible is a popular ethereum NFT marketplace that has seen a lot of growth since its emergence in 2020. The platform was developed as the pioneer community-owned non-fungible token marketplace. Aside from being a place to purchase these non-fungible tokens, rarible can be used to create a NFT. This means users can visit rarible with their digital piece/content and make a NFT for sale.
Opensea was developed in 2017. It is the pioneer and largest P2P Non-fungible token marketplace. It houses thousands of digital and virtual items, ranging from art, gaming items, and collectibles. On this platform, you can purchase, sell and trade these items with different users and clients around the world.
SuperRare is also a P2P platform for non-fungible tokens. It encourages the creation and collection of digital arts. It however requires artists to apply and submit their works for approval before they are accepted into the community.