How does NFT work?
NFT works based on blockchain technology. It enables the creation of non-counterfeit digital products such as software, artwork, music, games and much more. Each NFT is characterized by a unique identifier stored in the blockchain, binding the NFT with its owner.
Is it worth investing in NFTs?
The NFT market is growing rapidly, but still categorized as “something new”, constantly changing and adapting. As of today, on the NFT market we can find many products that have achieved considerable value. The leader among the examples on the list of the most expensive NFTs as of today is one called “The Merge”, which sold for $91.8 million.
Below is a list of several other NFTs that have achieved equally spectacular values:
- Everydays: the First 5,000 Days, Beeple – $69.3 million
- Clock, Pak – $52.7 million
- HUMAN ONE, Beeple – $28.99 million
- CryptoPunk #5822, Larva Labs – $23.7 million
- CryptoPunk #7523, Larva Labs – $11.75 million
However, it is worth bearing in mind that, as in the case of any other investment asset, the value of our NFT may change at any time, or even drop drastically.
How to create an NFT?
- To begin with, we choose a platform that will allow us to create and trade our product (OpenSea, SuperRare Rarible, etc.).
- Then we prepare the product that we want to turn into a unique digital token.
- Make sure your product complies with the requirements of the platform you choose.
- Following the platform’s instructions, create an NFT by completing the product information.
- Share your NFT to increase reach and potential buyers.