March 15


What is NFT? The complete NFT guide

Unless you've been living under a rock, you've probably heard about the recent explosion of NFT art. And trust us, it's worth paying attention to this emerging market. 

Need a reason? How about 69 million? 

That's how much a recent NFT art sale netted for digital artist Beeple

Got your attention now? Great. Now, buckle up your seatbelt, as we go on a super in-depth adventure exploring everything about NFTs. If you're interested in learning the basics about NFTs, or even some expert-level tips and tricks, you've found the right article. 

First, the basics. 

What are NFTs?

If you are reading this, chances are you already know what non fungible tokens are, but if this is your first time hearing the term, it is tokens that are not interchangeable.   When people talk about NFTs they are essentially referring to non fungible assets, or NFA, that is different from fungible assets.  That is a pretty big deal in the crypto community, and a lot of people are talking about it.  Some of the most talked about NFA in the crypto community is CryptoKitties, which is a game that uses Ethereum ERC-721 tokens on the blockchain.  If you are interested in making your own NFA, you can get started with one of the many types of NFTs.

What does NFT mean? 

NFT stands for non fungible tokens. Non-fungible tokens (NFTs) are blockchain-based tokens that are unique and non-interchangeable. Unlike the fungible ones like Binance Coin (BNB) or MakerDAO’s Dai (DAI), which can be freely exchanged for other crypto tokens or coins at any time, non-fungible cryptocoins are linked to specific properties or items. The non-fungibility of NFTs derives from the fact that users can’t trade one NFT for another.  

What is NFT art

Non Fungible tokens/art are digital items that are unique and one of a kind. They can each have a specific attributes that makes them different from everything else in their environment. One of the most famous examples that you might have heard of is Cryptokitties. Each one of them is unique and can even be bred with other CryptoKitties. They are all non fungible tokens. NFT is an acronym for non fungible tokens. It is a special token that can be exchanged. Unlike other forms of tokens, NFTs are unique in their own right.

When did NFTs start?

NFTs (non-fungible tokens) are unique virtual items that can be traded, sold or owned. They are often digital or virtual representations of real world objects and they are very different from tradional cryptocurrencies. For example, a NFT will have different characteristics than another NFT. NFT-based art can trace its origins to the earliest days of the NFT market, but it wasn't until the release of the CryptoKitty that people started to take notice. CryptoKitty was the first game to incorporate NFTs, and its popularity was so explosive that it led to the creation of several popular NFT games and many more crypto-collectibles. Since then, NFTs have become an influential force in the blockchain art world.

Where can you buy NFTs? 

Please note that we are a non-affiliated community driven by community members, not by the creators or sellers of this platform. We are not affiliated to the owners or creators of the platform in any way!!! So, where can you buy NFTs? There are two places to buy NFTs on the Ethereum blockchain: The first is the official auction house of the platform. This is the easiest option, and also usually the most expensive. You can search for NFTs there, using filters like rarity, category, and price. If you want to buy a specific NFT, you can do so by sending a payment to the smart contract address and specifying the NFT you want to buy. The second option is to buy NFTs on the an NFT marketplace, such as OpenSea

If you love crypto, you’ve probably heard of ERC-721 non-fungible tokens (NFTs). They’re arguably the hottest thing in the crypto space right now, and many people are rushing to get in on the action. However, purchasing ERC-721s can be a bit of a hassle. You need to find a seller, create an account with that seller, and pay a premium for each individual item. Now, a new decentralized marketplace called OpenSea is making it easier for anyone to purchase ERC-721 NFTs.

What is OpenSea? 

OpenSea is a digital marketplace that buys and sells collectible Non-fungible Tokens (NFTs) for Ethereum. This allows users to get the best prices by connecting them with creators and collectors around the world. The site aims to help users sell and buy digital art like Cryptokitties, Rare Pepes, and even NFTs that have been lost or abandoned by their original owners.  OpenSea's mission is to build the most user-friendly marketplace for NFTs, and to help creators and collectors find each other and thrive in a way that can't be done on other digital marketplaces.  The site is built on a strong belief in the power of open, free, and global markets. In a world where just about anything you can think of can be turned into a token and traded on an open market, the question is no longer "What is an NFT?" but rather "What isn't an NFT?" Anything that can be represented digitally can be traded, from in-game items to physical goods. But taking advantage of the blockchain and crypto requires a different set of skills than what most people have.  You don’t just want to be able to create a token that represents an item–you want to be able to sell it to the right person at the right price, and protected from fraud.  That’s where OpenSea comes in.  They’ve created the go-to marketplace for buying and selling NFTs. 

OpenSea is a blockchain based marketplace for NFTs. The concept of NFT's is relatively new, and a lot of the knowledge surrounding them is still being developed. However, there is a very active community made up of NFT enthusiasts taking part in the creation and trade of NFT's. OpenSea is one of the main places where people go to buy, sell and trade NFT's, and there is a lot of excitement surrounding this growing blockchain community.

How do I display NFT art?

There are a lot of different ways to show off your NFT art collection. You can set them as your wallpaper or desktops, you can frame them, or you could put them on a shelf or mantel. If you have an NFT art collector you love, you can even get a piece of jewelry made to show off one of your favorite NFTs. If you’re looking for a place to buy and sell NFTs, and want to know what the best place is to display your collection, you’ve come to the right place. Inspired by NFT is an online community for the NFT community. 

How much are NFTs worth? 

The amount of money you can make with a NFT depends on the NFT itself.  For example,  an NFT that is in high demand or is a one-of-a-kind NFT, may be worth more on the market than a more common NFT.  Also,  NFTs that you create using 3D modeling and virtual reality (VR) can be sold for more money than those that you buy on the market.  NFTs that have a high price tag will probably be worth more in the future than NFTs that have a low price tag.  Because some NFTs are more rare than others, some NFTs may also be worth more. As we continue to witness the growth of the NFT market, not all NFTs are alike. Although the bulk of the items live on marketplaces like  CryptoBots and OpenSea, there is also a diverse array of secondary markets that also host NFT trade, from art collections like  NFT Gallery to  NFT-specific marketplaces like  CryptoNFT and  NFT Market.

Is NFT art a scam? 

Travie McCoy, one half of the Grammy winning hip hop duo Gym Class Heroes, is famous for many things, but most people know him as the guy that sings “Billionaire”. So you might be surprised to hear that he’s been investing in NFT art for the past six months. In fact, he’s become so interested in NFT art that he’s teamed up with us to create a new NFT called “Neo’s Inspiration”, inspired by his art. New to NFT art? Let us help you out. As you may know, NFT (or non-fungible tokens) are digital, blockchain-based assets that are usually issued as part of online video games or virtual worlds. They are much rarer than regular, fungible tokens and have digital scarcity. As a result, NFT art collectors and blockchain enthusiasts have been investing in rare NFTs, known as NFT drops, as digital art pieces. Some artists are claiming these NFTs are a scam because of the low prices of the drops, which sell for as little as $0.01 on the NFT art market. However, NFT drops are not a scam, as long as the artist and the marketplace have been verified. 

How to create NFT art? 

The idea behind NFTs and nonfungible tokens (NFTs) is that each one acts as a unique digital asset. Nonfungible tokens have been around for a while in the form of Cryptokitties, which lets users collect and trade unique digital kittens. But the use case for NFTs goes way beyond that. From the CryptoKitties site: "The core feature that makes CryptoKitties unique is the blockchain-based genetic inheritance of unique traits and “cattributes”. CryptoKitties players can purchase and trade CryptoKitties from other users using Ethereum. Each kitty has its own “cattributes” like fur patterns, eye shapes, colors

What is ERC721? 

The ERC721 token is a piece of code for an NFT (non-fungible token) that is deployed on the Ethereum blockchain as an extension of ERC20. It is primarily used to represent unique, individual objects on the blockchain. It is a standard that allows all ERC721 tokens to be interchangeable, as well as inter-operable with ERC20 tokens. The standard also allows for the easy creation of non-fungible ERC721 tokens, which are unique to each token. ERC721 is a new standard that has grown out of the Ethereum community. It is defined in the ERC-721 spec in the Ethereum GitHub repository, and the standard is being developed by the Ethereum community. ERC721 defines a common interface for tokens that follow certain rules.  One of the most notable rules is that the tokens are non-fungible, meaning that each token has its own unique identity on the blockchain. This is a different property than ERC20 tokens.

What is ERC1155? 

ERC1155 is a proposed extension to the Ethereum token standard that aims to address some of the shortcomings of ERC20 by standardizing new features such as fungible tokens and identities. To understand the motivation behind the standard, consider that ERC20 tokens cannot be considered fungible when each token is a different color, has a unique symbol, and is worth a different amount. ERC1155 is a new, core protocol for creating non-fungible tokens (NFTs) that was first proposed in September 2018. It is a big upgrade over the classic ERC721 standard that was the first N/FT standard to be created for the Ethereum blockchain. It improves upon ERC721 in two major ways: in that it allows for multiple types of assets to be created (whereas ERC721 only allows for one type of asset, namely a token), and allows for these assets to be traded with each other.

What are Axies? 

If you’re wondering what axies are, this is the NFT you need to know about. Axies are a series of custom NFTs that are inspired by the popular Axie Infinity game, a community of digital pets that live on the blockchain. Each Axie has its own backstory, personality, and appearance—there are currently 40 different pets to collect, each with their own quirks and special abilities! These unique traits make them a fun collectible for any NFT fan, and they’re also a great way for blockchain enthusiasts to learn more about how NFTs work. Axies are, well... exactly what they sound like they should be. They are digital pets, that you can breed, raise and battle against other players. But Axies are also a lot more than that. While each Axie is written to the blockchain as a Non-Fungible Token (NFT) they also have a unique story and personality. That means they can achieve a wide range of characters: they can be loyal, adventurous, brave, mischievous, or whatever you want them to be. (As long as they fit within the game's story lines.) The game started life as a simple RPG in which you wander around a map, defeating monsters and completing quests. 

What are ENS names? 

There are a lot of different types of names in the Ethereum Name Service (ENS). The most common are the kind you get by registering a .eth domain, but you can also get .xyz, .luxe, .eth, and other types of names through a name auction, a name drop, or by interacting with a smart contract with a name on it. The most interesting ENS names are the ones that are part of a smart contract, as they can have special functions depending on the contract.

What are cryptokitties? 

Cryptokitties are a new type of digital collectible that are the latest craze in online gaming and cryptocurrency trading. They work by assigning a digital identity to a digital asset, meaning that they can be owned by a single individual or a group of people in a decentralized manner. With advancements in cryptocurrency technology and blockchain protocols, individuals can now give unique attributes (“Cattributes”) to their cryptokitties that make them stand out from the rest. This makes cryptokitties a trend that is sure to stick around for quite some time. Cryptokitties are a new kind of digital collectible that were created in 2017. Each cryptokitty is unique, because they are breedable, like pokemon, and each is one-of-a-kind, because their genetic code is stored on the Ethereum blockchain. In order to create a new cryptokitty, users can breed two existing cats, using their unique cattributes as a starting point.

What is Decentraland? 

Decentraland is a virtual reality platform powered by the Ethereum blockchain, where users can create, experience, and monetize content and applications. Unlike traditional online games, which are hosted by a single company, Decentraland is a virtual world owned by its users. This makes it more like the real world, but much better! If you’ve been following the crypto space, you’ve probably heard that last week, a new NFT marketplace called Decentraland launched, allowing users to purchase NFTs from different blockchain projects via a custom-made wallet. Some of this projects are familiar, like CryptoKitties or Rare Pepe Wallet, but there are also many projects that most people haven’t heard about. And for this reason, Decentraland is a great way to explore new projects, as well as a place to buy NFTs from projects you’ve already heard about.

What is an NFT market? 

An NFT market is an online marketplace for NFTs that allows users to buy and sell their NFTs for cryptocurrency. Many NFT markets also allow users to buy and sell for NFTs other than their own. Most NFT markets are built on an open source platform known as the OpenSea platform. OpenSea is free to use and is available for any users interested in creating their own NFT market. For over a year, the NFT market has been flourishing, and there are no signs that it is going to stop growing. However, there are still a lot of misunderstandings about the NFT market. For example, many people think that there is always a trade off between rarity and liquidity. That's not true. While some NFTs like CryptoKitties were created as collectibles, there are also NFTs that were created for liquidity. In fact, NFTs are creating an entirely new market for digital assets.

What are NFT cards? 

NFT cards are a type of digital artwork that is non-fungible. It means that every NFT is unique and cannot be replaced by another. Some NFTs are offered as drops from crypto games or users can buy and sell them on the NFT market.  There are a variety of NFT types, for example, there are NFTs for crypto games like Cryptokitties and Augmentors. Others are offered as limited edition NFTs for sale, such as CryptoKaiju and CryptoPunks.  The highest selling NFT to date was CryptoKitty #18, which sold for 126.7 ETH or $170,000 USD. Most NFTs are designed by talented artists who have spent years mastering their craft, and NFT collectors are always on the hunt for a new, rare crypto NFT to add to their collection. The value of NFTs can be impacted by a variety of factors, including the popularity of the game they represent, the number of copies in circulation, and the number of collectors who are competing to get their hands on it.

Can NFTs be stolen? 

Anyone who’s bought a limited edition NFT knows that selling it is a big no-no. (After all, that’s how scalpers get rich.) But hackers are like a dog with a bone: they just won’t let it go. And, as the recent hack of Cryptokitties illustrated, you can’t even rely on NFT art for protection—these pieces of digital art, too, can be stolen. So, what’s the solution? The first thing you need to do is report it. Leave a negative review on the marketplace you were trading on, so others will be wary of it, and contact the company listed on the marketplace. In most cases they will be very responsive and will be very interested in what happened, and how it happened. They will also do their best to help you out. If the NFT market is based on the blockchain, you can also contact the blockchain and see if anyone has been making transactions involving the stolen NFTs.

NFT basics (non-fungible tokens) 

1. Non fungible tokens provide unlimited possibilities for game developers
2. Non fungible tokens are also called NFTs, and they can be used for more than just games
3. NFTs can be used to demonstrate real-world ownership of digital assets
4. NFTs are used in various industries
5. NFTs can also provide data to create an accurate digital representation of something real
6. NFTs are just like any other digital assets, they have to be managed and secured
7. NFTs are stored in a secure, blockchain based trading platform
8. NFTs are stored in wallets and traded in decentralized exchanges
9. NFTs can be bought and sold for cryptocurrencies

We're about to drop one-of-a-kind NFTs. 
Want to know when they drop? Grab your spot in line