What are NFTs? Digital Market Basics

To understand how these digital markets work, it is essential to have a basic understanding of Non-Fungible Tokens (NFTs). Simply put, an NFT is an individual online item secured by a cryptographic code set on a blockchain. NFTs are unique in nature, and on platforms like OpenSea, NFTs function more like objects than as currency. People can acquire NFTs by utilizing cryptos like Bitcoin. However, NFTs have no equivalent or exchangeable value. The non-expert public may be familiar with the art globe associated with NFTs. Digital artworks can certainly be tokenized, but so can many other digital assets, including music, video games, real estate, and collectibles.

Music
In-game assets for online games
Proof of ownership of real-world assets such as real estate
Digital Real Estate
Domain name
Trading cards
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The above list is not exhaustive; the number of possible NFT art projects is constantly growing, making the possibilities endless.

Join the NFT market

To participate in NFT trading, you must first secure a web-based digital currency-enabled wallet. An excellent example of this type of instrument is MetaMask. Crypto wallets make it easy to participate in blockchains and perform transactions involving NFTs and cryptocurrencies. Even if you are not buying or selling NFTs on OpenSea, you will need to choose one of the marketplace-supported wallets to interact with OpenSea's underlying blockchain. Thankfully, the platform integrates with many wallets, and if you use one of them, you won't have any problems with the interface.

The OpenSea Marketplace supports the following wallets: