What is NFT?

NFT (non - fungible token) is a non-fungible token that is a unique digital certificate confirming ownership of a specific asset. Anything can be an asset: from a photo or video to music, and even virtual items in games.

How do NFTs work?

Blockchain technology allows you to create unique digital certificates that cannot be forged or copied. Each NFT has its own unique identifier, which makes it unique. This allows you to use an NFT to verify ownership of a particular asset.

To create and sell an NFT, a special platform called the NFT\marketplace is used. On this platform, artists, musicians, designers and other content creators can sell their work in the form of NFT. Buyers can purchase these NFTs with cryptocurrency or fiat money.

After purchasing an NFT, the buyer receives a unique certificate that confirms their ownership of this asset. This certificate can be stored in a special wallet for NFT.

Examples of successful NFT collections:

1. CryptoPunks is one of the most popular NFT collections, consisting of 10,000 unique avatars. These avatars were created back in 2017, but are still very popular among collectors. The cost of some avatars reaches several million dollars.

2. Bored Ape Yacht Club — another popular NFT collection consisting of 10,000 unique monkeys. Each monkey has its own character and clothing style. This collection is also in high demand among collectors, and the cost of some monkeys can reach several hundred thousand dollars.

3. Art Blocks-a collection of NFTs created using artificial intelligence. Artists use algorithms to create unique works of art, which are then sold as NFTs. This collection is an example of how artificial intelligence can be used to create unique content.

4. World of Women-NFT collection dedicated to women. Artists from all over the world create unique works of art dedicated to women, which are then sold as NFT. This collection aims to draw attention to the role of women in society and culture.

5. NBA Top Shot-an NFT collection associated with the National Basketball Association (NBA). Players, coaches, and referees create unique moments that are then sold as NFTs. This collection is very popular with basketball fans.

These are just some examples of successful NFT collections. The NFT market continues to develop, and new interesting projects appear every day.