What is Crypto NFT?

 What is Crypto NFT

what is crypto nft

Crypto NFT is a digital asset just like “Cryptocurrency”. Just as bitcoin is a crypto currency, NFT is also a crypto token. There is some change here because bitcoin is a digital currency but it is not a currency but a digital asset.

Now a question must have come in your mind that what is a digital asset? So let me explain to you in easy language what are digital assets? Painting, Photo, Music, Game etc are assets. There are rights of any individual person or company on these.

Company or Individual buys or sells these assets. The digital conversion of these is NFT. It is also bought and sold. Its craze is increasing like a cryptocurrency. This is done in Sell and Buy “Cryptocurrency”. Yes friends, if you have bitcoin then NFT can be bought.

Which Assets Come in NFT?

For your information, let me tell you that all those assets come under NFT which are unique.

Virtual Video Games

Artwork (Painting, Photo)

Music

Video

Digital Avatar Etc

What is Crypto NFT? Definition!

NFT Crypto is a computer file that is authenticated. Ownership is also given in this certified computer file. It is Blockchain based technology which stores “Units Data” of Assets on Digital Locker.

It can be based on Ethereum or any other Blockchain. It is Non-Interchangeable i.e. NFT Tokens are not exchangeable.

What is the full form of NFT Crypto?

The full form of NFT is "Non Fungible Token".

Now you know the full form of NFT, but still the question will be in your mind that what is so special about Digital NFT that it is being discussed in the online world. Friends, any asset gets a certificate of crypto NFT. But getting this certificate is not so easy because that digital asset needs to be Bizarre and Unique.

Non Fungible Token is a kind of Digital Art which gets a certificate but it is not so easy to get its certificate. Connoisseurs of Digital Art issue certificates. The certificate ensures the right of copyright.

The craze of Crypto NFT has increased so much that even Twitter CEO Jack Dorsey has become a fan of it. It happened that the Twitter CEO did a tweet 15 years ago. The digital version of the same tweet was auctioned in the NFT version where its bid reached 30 million. Friends, the concept of NFT first came in the year 2015 but the first project was released in the year 2017.

How to Create Asset in NFT?

To convert any artwork into NFT, Blockchain technology has to be used. Blockchain can be any Tron, Binance, Ethereum etc. Art can be easily converted into crypto NFT form with the help of any of the top and best NFT Marketplaces.

Main NFT Marketplace Names

Worldwide Asset Exchange (WAX) – It works on Ethereum crypto.

Crpto Kitties – This is a digital game where trading of Digital Cats takes place.

Rarible – It is a platform to sell and buy digital art which gives platform to Artists.

The main NFT Marketplace are Crypto.com, Open Sea, Foundation, SuparRare etc.

How to Sell NFT Crypto?

After creating Non Fungible Token it is also very easy to sell. There are many platforms in the crypto marketplace that allow it to be sold. All you have to do is select a marketplace that is the best seller of your digital art.

How to Buy NFT Crypto?

You can go to any top Marketplace to buy Crypto NFTs.

Digital NFT payment is given in Cryptocurrency. You must have a Crypto Wallet before you can buy NFTs. Money has to be deposited in the wallet. Ethereum, Tron, Binance, etc. have to buy other Cryptocurrency from Deposit Money.

Advantages of Digital NFT Crypto

Artists benefit greatly from crypto NFTs as they get a platform to showcase their skills. By creating a digital painting, crypto can be listed in NFT. Due to which the artists benefit from lakhs of crores. Artists can sell Non Fungible Token (NFT) certificated paintings at auction for lakhs of rupees.

In India too, Wazirx, the top Cryptocurrency Trading App for Artists, has also launched NFT. For your information, let us tell you that Wazirx app is a company owned by Binance, the world's top crypto trading and wallet app.