What are NFTs and what do they do?

NFTs are crypto assets that grant gamers and collectors ownership over their digital items. Non-fungible tokens (NFTs) are a special type of crypto asset that allows holders to prove their ownership of real or digital items – but most importantly, the latter.

How can you start selling and buying NFTs?

Unlike all other cryptocurrencies, NFTs cannot be listed, bought or sold on centralized or decentralized exchanges. Instead, users must use tailor-made NFT marketplaces to participate in the listing and trading of these assets.

What is the difference between NFT and cryptocurrency?

Let us look at another question: “How is NFT different from cryptocurrency?” To fully grasp the differences between the two concepts, let us take a keen look at their stated difference below: The primary difference between an NFT and a cryptocurrency is that an NFT is non-interchangeable, whereas a cryptocurrency is fungible.

What is the proper way to understand NFTs?

There are many ways to explain NFTs. Simply put, non-fungible tokens (NFTs) are unique digital assets that are not interchangeable. You most often will recognize them as digital art. However, NFTs are also music, videos, or even books.