What is NFT?

To understand how these digital markets work, it is essential to have a basic understanding of Non-Fungible Tokens (NFTs). Simply put, NFTs are individual online items protected by a cryptographic code set on a blockchain. NFTs are inherently distinctive, and on platforms like OpenSea, NFTs function like objects rather than as currency. People can acquire NFTs using crypto like bitcoin. However, NFTs have no equivalent or exchangeable value. The non-specialist public may be familiar with the art globes associated with NFTs. While digital artwork can certainly be tokenized, many other digital assets can also be tokenized, including music, video games, real estate, collectibles, etc.

music
In-game assets for online games
Proof of ownership of real world assets such as real estate
Digital Real Estate
domain name
trading card
avatar

The above list is by no means complete; the number of potential NFT art projects is constantly growing and the possibilities are endless.

Join the NFT Market!

To participate in NFT trading, you must first secure a web-based digital currency-enabled wallet. MetaMask is an excellent example of this type of device. Crypto wallets facilitate participation in the blockchain and the execution of transactions involving NFTs and cryptocurrencies. Even if you do not trade NFTs on OpenSea, you will need to choose one of the wallets supported by the marketplace to interact with OpenSea's underlying blockchain. Thankfully, the platform integrates with many wallets, and if you use one of them, you should have no problems with the interface.

OpenSea Marketplace supports the following wallets