An NFT, or non-interchangeable token, is a unit of record that is used to create a digital cast for any unique item. These can include: paintings, photos, videos, music, gifs – in short, any content that claims to be at least somewhat unique. They are a great value among collectors, gamers and art lovers, and are bought and sold through auctions.

These tokens are stored in what is known as a blockchain – a huge chain of blocks, each containing information. Unlike, for example, servers, where data is stored in one place, these blocks can reside on many devices around the world.

This kind of encryption makes blockchain very difficult to break, because at best you can break just one block of information, not the whole chain. This is why most cryptocurrencies run on the blockchain.

A token is just a record in one of the blocks, and as a rule, there can be very many of the same type of records. For example, each individual bitcoin is an exact copy of another bitcoin of the same type, which makes it possible to match them with a currency.

But what if you need to create a unique token that has no counterparts? The answer is NFT.

The main value of an NFT is exclusivity
An NFT token is a way to translate unique items from the real world into blockchain. Each of these tokens is unique, indivisible, and exists in a single number. In addition, the blockchain securely stores all necessary information about it.

The uniqueness can vary. Thus, the first SMS was sold for 150 thousand dollars and the first tweet of Jack Dorsey, the founder of Twitter, was sold for almost 3 million.

When did
Blockchain and cryptocurrencies have existed for several years, but NFT appeared only several years ago. They owe much of their popularity to the game CryptoKitties, where you have to grow and breed virtual cryptocats. The cost of one such kitten can sometimes exceed hundreds of thousands of dollars.

The connection of NFT with cryptocurrencies also played an important role, as well as the fact that during pandemic times a lot of new non-professional players wishing to earn money appeared on stock markets.

But the biggest influence on the popularity of these tokens has been the high-profile names that are actively fueling interest in the topic. Every day you can read news about how another celebrity sold something in NFT for a huge amount of money. It’s one thing to talk about NFT in narrow crypto circles, and quite another when information giants like Elon Musk, Jack Dorsey, Mark Zuckerberg and others come into play.

Where do they apply
Although NFT tokens were created as an opportunity for creators of digital content to make money from collectors, gamers and art connoisseurs, now the main direction is monetization of popularity.

nft paintings to buy
The prototypes of NFT were colored bitcoins, which worked in a similar way
For example, Elon Musk, the founder of Tesla, auctioned off his NFT track tweet for $1 million. In the end, it was never sold, but it attracted a lot of attention from the online media.
How to sell NFT
There are many platforms where you can place your tokens. Some of them even have a narrow specialization – for example, only gaming items or only art.

The most popular are OpenSea, SuperRare, Foundation and Rarible. As a rule, the sites charge a commission in Ethereum cryptocurrency, or ether, as it is called in common parlance. The amount of commission varies, but it is usually a few tens of dollars (this cost is due to the fact that the new token will need to be included in the blockchain).

The commission is always charged at the time the token is created, but depending on the site it could be either immediately after the file is uploaded or at the time of sale.

To pay the commission with Halva, open a currency account and exchange rubles for dollars profitably.

How to create NFT
A step-by-step guide on how to create your own NFT-token by the example of OpenSea (any cryptocurrency wallet will be required):

Open site;
Choose Create – My collections;
Create a collection, name it and add a description and logo;
Add tokens to the collection. To do this, select Add items and then Add new item;
After successfully uploading a token, put it up for auction;
Wait until it will be bought for 70 Million.
Copyright
One of the main reasons why people criticize NFT is the rather unclear relationship between tokens and copyrights. People who buy NFT often wonder, “Do I own the rights to something now?”

No. The fact is that NFT gives no rights to the ownership of an item beyond the boundaries of the blockchain platform.

The owner of the token only disposes of it within the platform
But there is nothing that prevents you from watching the video on YouTube, downloading it or using the cat as a screensaver – you certainly won’t face a lawsuit from the token owner.