NOTE: This is not a real NFT for sale
Well, before I jump into that, let’s talk about what NFTs are and how do they work?
NFTs are non-fungible tokens that are digital assets that represent tangible and intangible items.
These can range from collectible cards, drawings, music, digital real estate, tweets, and much more.
At a very high level, most NFTs are part of the Ethereum blockchain.
NFTs are essentially designed to give you something that can’t be copied.
SO WHY ARE THEY BECOMING SO POPULAR?
NFTs have become very popular among crypto users and companies alike because of the way they have revolutionized the gaming and collectibles industry. Since November 2017, there has been a total of $174 million spent on NFTs.
Thanks to the advent of blockchain technology, gamers and collectors can become the immutable owners of in-game items and other unique assets as well as make money from them.
Like all assets, supply and demand are the key market drivers for price. Due to the scarce nature of NFTs and the high demand for them from gamers, collectors and investors, people are often prepared to pay a lot of money for them.
NFTs varies from couple hundreds to hundred of thousands in dollar value.
Has anyone sold or bought NFTs? What’s your feedback and experience?