Can you believe that you can earn thousands of dollars by designing an image on Photoshop, the NFT may be the most important invention in recent years that may change the world in the leading years.
Although it is the most popular news in the world, it is still ambiguous, and the term NFT is still not understood by many people around the world apart from its connection to digital currencies.
What is the NFT?
NFT is an abbreviation for Non fungible token, and this means that it is a non-copyable digital ownership certificate where many investors invest in a specific image by buying the private ownership certificate for these images and selling them later for a much more amount.
# The difference between replaceable and non-fungible tokens (NFTs)
All digital currencies such as Bitcoin, Ethereum, Litecoin, and all other digital currencies are considered non-fungible tokens, as each currency can be exchanged for a similar currency because they have the same value, but non-fungible tokens (NFTs) are a form of digital assets, so all NFTs have a valuation Frida is irreplaceable.
The prices of NFTs are crazy, as some of the images that some people consider very bad images are worth 2 and 3 million dollars due to their rarity and the lack of any other copy in the world.
The NFT is just like the market where you can buy some things like photos, tweets or anything else and sell them for a more expensive price, this is what investors do with very huge sums.
I'll try to make things look easier for you
If you want to explain the NFT as close to reality, you can compare the NFT, for example, to the Mona lisa, where anyone can go to the museum and see the painting and take pictures of it, but he can't take it with him because he doesn't own it, as well as any painting you have at home or Any other purpose for you is like the NFT, but the only difference is that the NFT is digital and intangible.
NFTs depend on the blockchain technology on which digital currencies depend, specifically on the same blockchain technology on which the Ethereum currency depends. The technology can store additional information that makes it work differently from the Ethereum currency itself, and since it depends on the blockchain, it is easy to track and verify its authenticity. The technology records the complete history of all its owners.
This year, the price of NFTs has gone mad, as sales of NFTs rose from $13.7 million in the first half of 2020 to $2.5 billion in the first half of this year 2021, a 20-fold increase and it is expected that in the next few years It will be many times that amount.
Form NFT that can be sold to others
Any digital asset can be sold as an NFT such as a picture, video, graphics, music, animated GIFs, or any other digital format, for example, Jack Dorsey, co-founder and CEO of Twitter, sold one of his tweets as NFT for a price of $2.5 million.
Although the prices of NFTs are very high and sometimes reach millions of dollars, creating an NFT is never difficult. As I mentioned earlier, it can be any image that you modify on Photoshop or anything like that NFT, but you certainly will not be able to sell it with fabulous numbers if it is not something special.
There are many platforms on which you can sell your NFT after creating it, there are platforms for beginners and others for big investors and celebrities.
Opensea is one of the best platforms and markets for selling NFT. You just need to create a Metamask wallet and link it with the Opensea site, and then you can sell NFT, but in order to be able to offer your NFT for sale, it will cost you a little bit of Ethereum, about 25 or 30 dollars And this amount is very little compared to the huge amounts that he may bring you from selling this NFT.
There is another site called Pantograph which is also a platform for selling NFTs, but this site is for beginners in the field of NFT because it does not need any payment and you can publish your NFT for each without paying any amount, you just need a Metamask wallet.
The difference between the two sites
OpenSea is a site that needs to pay as a commission when you publish your NFT, but it pays you in Ethereum for the sale, so it pays very large sums compared to the Pantograph site, this site pays much less amounts, but it does not need to pay any commission in the beginning.
Of course, the two sites are great, but if you do not know much about NFT and are a beginner with it, it is better to start your journey with the Pantograph site because there are no losses in it.
In the end, I hope this blog is useful to you, and put me in the answers. Have you tried selling NFTs before and which sites do you prefer?