What is NFT & how does it work?

In many NFT sales, what the buyer gets is simply the unique entry in the blockchain database that identifies them as the owner of the digital good — the token, rather than the thing the token represents.

Are NFTS fungible?

Those things are fungible. An NFT, though, is one of a kind. The token refers to a unit of currency on the blockchain. It's how cryptocurrency like Bitcoin is bought and sold. "Remember those days where people would line up for the newest Nike Air Jordan sneakers at the physical store?

What is a nonfungible token (NFT)?

It stands for "nonfungible token." Nonfungible, meaning you can't exchange it for another thing of equal value. A $10 bill can be exchanged for two $5 bills. One bar of gold can be swapped for another bar of gold of the same size. Those things are fungible. An NFT, though, is one of a kind. The token refers to a unit of currency on the blockchain.

What are the best NFT marketplaces?

Some of the most common NFT marketplaces include OpenSea, Mintable, Nifty Gateway and Rarible. There are also niche marketplaces for more specific types of NFTs, too, such as NBA Top Shot for basketball video highlights or Valuables for auctioning tweets such as Dorsey’s currently up for bid. But be wary of fees.