What is an NFT?
NFTs are nonfungible tokens. The adjective “nonfungible” is often used in economics to represent features such as uniqueness and non-interchangeability. In the crypto space, nonfungibility simply indicates that one item cannot be exchanged for another.
A “token” as a unit of account is basically a certificate of validity stored on the decentralized blockchain, making digital assets traceable and accessible to everyone. As a result, NFTs are a one-of-a-kind virtual currency that can fall into pretty much any category and usually take the shape of paintings, videos, music, collectible items in video games or any other type of creative digital production.
Since NFTs boomed in early 2021, everyone is now buying and selling these tokens throughout the world. But, how can someone convert real art into NFTs and how can they sell them? Is it hard? Is coding necessary to make an NFT?
In a nutshell, the steps are quite simple. To understand the main procedure and its specifics, read this quick guide below.
What is crypto art?
Art is the most common use case for NFTs, and it is no wonder that crypto art in NFT form has recently exploded in popularity. The fact that the novel blockchain technology creates conditions that now allow artists to earn tens of millions of dollars from their digital paintings attracted many creative people who could only dream about such a level of ease and accessibility before.
Sensational high-profile auctions of NFTs linked to digital art have received considerable public attention. The most expensive sales hit the headlines as they…