NFT is NON FUNGIBLE TOKEN.
-NFTs are represented by tokens.
-NFTs can be different from one another in some characteristic, such as a physical feature or a certain authority over a network.
-NFTs can be fungible or non fungible.
-Non fungible token is often linked to artworks, collectibles and other unique things.
-The value of non fungible token is determined by the market demand and supply for that type of token and not on rarity alone.
What is NFT?
NFT stands for "non-fungible token". It is a financial instrument within the cryptocurrency world that combines all the attributes of digital currency with the unique distinction of being able to be divided up and exchanged. I'm sure you're wondering how that's different from Bitcoin, Ethereum, or Litecoin, but that's just where it starts. NFTs are also not just in use within crypto as they're used within gaming platforms as well.
NFTs are a means to exchange value, but unlike other cryptocurrencies that you can use for payments, a NFT has its value in the way it's used and the asset that it represents. It can have many levels of fungibility and many fungible tokens combined into one means to exchange value.
In computer science, non-fungible goods are often represented by a non-unique serial number. For example, serial numbers are used to identify each item in collectible card games like Magic: The Gathering . Non-uniqueness is also evident in hardware such as computer processors and hard drives, where the function of each device is a combination of its hardware components and cannot be changed once the device is manufactured. To be fungible, the identical ue is different.
In Augur's system, non-fungible tokens are used to represent the "reputation" associated with an event on their platform. For example, prediction markets such as Augur allow users to make predictions in a decentralized environment. When someone arrives at the site and enters their first prediction using Particle NFTs, they are rewarded with a reputation token must be tradeable and exchangeable. A token is fungible if it can be exchanged for or replaced by another token of equal value.
Top 5 NFT Marketplace
1). Opensea
2). Looksrare
3). Solsea
4). Foundation
5). Mintable
How to create NFT?
NFT is the newest trading form on the block. It allows you to simply create a new asset with no one else having access, and then if you want, either sell it or store it in your digital wallet. In this blog post, I'll tell you how to build an NFT and get started making money by selling them on platforms like Oasis DApp Store.
Before I even began, I did a lot of research on NFTs, and found that most all of them were clunky created by people who didn't know how to code (few people actually do), and the ones that were created by coders often failed miserably as they created assets that did not work and could not be accessed.
I tried to do something similar to all of these terrible NFTs, and I can tell you that 99% of them failed. I did not know how to code, but I knew the basics and wanted to learn more, especially if it meant creating a digital asset that worked. So my main tools were a text editor (WordPad), text to speech (Cortana), and Notepad++. first decide if you want to create whole collection or simple art. Most of the NFT project is generated by coding so you can learn to code and make your own collection or you can hire a designer to make 1/1 hand-drawn NFTs.
How to sell NFT?
you can sell your NFT collection on Opensea. Listing NFT on opensea need gas fees. If you can't afford then you go with polygon blockchain on opensea or you can list on solsea they have very less gas fees.