What are NFTs?
They are non-fungible tokens, meaning they are not tied to a specific pair of currencies like BTC/USTD.
Many networks are adopting the concept of NFTs, such as:
1-
The TON network of Telegram, which has many mini-apps
including a store for selling NFTs.
2-
The Solana network also embraces this concept, like the famous store
MAGIC Eden.
Examples of using NFTs in cryptocurrencies:
1. Crypto games: such as the Sandbox website.
And the GALA token project.
2. Profile pictures (PFPs): like CryptoPunks or Bored Apes..
Uses of NFTs:
Selling digital artworks.
Owning items within metaverse games.
Proof of ownership or certification.
* Each NFT is linked to a unique digital address on the blockchain, like a unique identifier (ID) that never repeats.
How is an NFT linked to cryptocurrencies?
You need a currency like ETH or BNB to purchase an NFT.
The price of an NFT is usually determined in the currency that powers the network, such as BNB or ETH.
Example: An NFT on the Ethereum network is purchased with ETH.
Share your opinion on NFTs:
#Web3 , #NFT , #crypto , #Write2Earn , #SmartContracts
