So I'm gonna get you up to speed with what that is what is an NFT stands for non-fungible token. What the heck does that mean well non-fungible means a unique item that you can't replace with anything? So the Mona Lisa for example that's non-fungible because there is one of them and we all agree there is one original Mona Lisa right and that gives the painting loads of value.

Because it's very famous and there is a demand for it. Non-Fungible Tokens give anything in the digital world. The ability to be non-fungible like the Mona Lisa because of the way information can now be stored on blockchain. So you can take this instagram post you can copy and paste it and make millions of copies in fact that's exactly what they do witht he Mona Lisa too.

When you think about it you can get a print of it even a very good painted version but it's still not the original is it with NFT Marketplace. Though they enable you to take this image and say this image here is the original it's the Mona Lisa hanging in the art gallery version and anyone who screenshots. It has a copy but this here file is the original nothing else.

So because of this anything digital can now become an original but how well the process is called minting. So you can take a digital file a jpeg a gif an mp3 and mp4. You can do what's called minting it and then sell it on an NFT marketplace minting takes the digital file and then puts it on the ethereum network and stores it as a non-fungible token. So it's like a big safety deposit box which can't bealtered and that holds the file.

The movement of this file can then betracked forever ensuring that you can always see that it's the original item it's very similar to how most valuable art is stored. But with traditional art security has an eye on it all time just stands there looking at it to make sure no one steal sit with NFTs. There's no need for human watching and tracking because the blockchain will do all of this for you. I get this is a little bit hard tounderst and a little bit mind-blowing but basically Top NFT Marketplace NFTs mean anything digital can have a one true original version.

And that means things like digital art your music. Your social media posts anything you have online can be an original. And therefore can have value and a tremendous amount of value at that too. So jack dorsey recently turned his first ever tweet into an NFT and sold it for 2 million which is crazy. But someone now owns a very historical part of the internet's history legally I'd really recommend you try to stay open-minded.

Because you could be looking at a life-changing event here for example musicians can now sell their original mp3 of a song to their top fans for top money writers can sell their original digital books. Gamers can buy land in games which they will then own they can build things on making their own characters and then sell them and these things will have worth because there will be demand and they will be unoriginal and what makes this even cooler is when you put an NFT up for sale.

You can actually set a percentage that you earn. When someone resales that NFT so you could sell something for 1 000 and say I want 10 of the resale and then when the resale happens you make that money which you just don't get in traditional sales in the real world. So that's the basics of NFTs now what you need to do is start making your own and then selling them. And there are some platforms out there that make it incredibly easy to buy and sell and these are known as marketplaces.

Reference URL: Which is the Best NFT Marketplace for Beginners?