Find out what NFTs are and why they cause “fever” in the cryptocurrency market – Money Times

Find out what NFTs are and why they cause “fever” in the cryptocurrency market – Money Times

Find out what NFTs are and why they cause “fever” in the cryptocurrency market – Money Times
(Photo: Bitcoin Market / Disclosure)

Later Bitcoin Win a place in the portfolio of investors and introduce yourself to the world Crypto resourcesMore and more digital assets are rising in value – price and popularity – as they are NFT (Non-fungible token). What was once a simple picture on the Internet can now be sold for millions of dollars. After all, who could have imagined that an image of a monkey chewing gum would one day be more valuable than an apartment?

Well, this new reality, due to the emergence NFT, Which has become a trend in the crypto world. As a nonfungible.com, the total sales of these tokens in 2021 were US $ 17.6 billion. Artists like Snoop Dogg, Neymar, Justin Bieber and even Tom Brady have surrendered to the NFT, increasing their relevance to the market.

Today, buying NFT means more than just earning money in the crypto world. In addition to teaming up with famous artists, NFTs can enable Participate in unique digital communities, Opening the door to a new and highly profitable universe in the future. And you don’t have to spend millions to get into this market, as Neymar did.

We prepare the content in partnership with Bitcoin marketTo explain more about these non-fungible tokens, Latin America’s largest cryptocurrency trading platform, how they work and how you can invest in them from R $ 50 without leaving your home.

But first, you need to know: What is NFT?

NFT, or non-fungible token, in short, is a type Digital Certificate of Authenticity.

They are tokens because they are Virtual assets stored in blockchain. The tokenization process gives the asset a virtual authentication and, as a result, more security in transactions, especially in financial activities.

An example: Board Apps, “Board Monkey” was a common digital art on the Internet that sold millions, before going through tokenization. Now, however, these are assets that can be traded within blockchain, the interconnected and encrypted blockchain behind crypto assets. In fact, they can be bought and sold as cryptocurrencies.

The term “fungible” comes from the idea of ​​an item that can be traded for something else of the same value. For example, exchanging 100 race bills for two 50 bills or 5 20 bills. Like NFT Not fungusThey are an exclusive and unchanging digital product, which cannot be replicated or exchanged for other items of similar value.

In practice, everything can become an NFT. Want an example? Oh The world’s first tweet, Created by Twitter founder Jack Dorsey, turned into a non-fungible token and sold for about $ 3 million. The same thing happened with the first edition WikipediaChristie’s, one of the largest industrial auction houses in the world, traded for 750,000.

What is the relationship between NFTs and cryptocurrencies?

Because they have the same technology as the “background” – the blockchain – business is done using NFT Cryptocurrency as a payment method.

Currently, the most commonly used protocol for creating these tokens is Etherium, Which has its own crypto: ETHER. For example, NFT can be traded using ecosystem’s native crypto.

It is worth remembering that the main The difference between cryptocurrency and NFT Its fungus. Although a cryptocurrency can be exchanged with another currency (digital or fiat) that adds the same value, an NFT cannot be exchanged for another equivalent, because it is a unique, irresistible digital industry.

NFTs are one of the best ways to enter the market Buy related cryptocurrencies, The ether itself. To do this, you need to rely on a secure and reliable exchange. A. Bitcoin marketFor example, you can open yours Free account And trade crypto from R $ 50.

How to buy NFTs?

NFT is offered for sale Specific marketplace, Its price is variable, depending on its popularity and how attractive it is in the market. When purchased, NFTs become the exclusive property of their investor, able to appreciate over time and resell at a higher price, creating a profit for the property owner.

Before buying an NFT, you need to consider the marketplace you are going to buy, what asset portfolio you need to buy and what cryptocurrency you need to buy. Some popular marketplaces are OpenSea, Rarible, Mintable, Foundation and SuperRare.

Here’s a simple step-by-step guide on how to buy an NFT:

  • First, you need to buy cryptocurrencies because they are used as a form of NFT payment. As you purchase your cryptocurrency, the selected financial institution must transfer these assets to a digital wallet,
  • Then, you must register in one of the NFTs Marketplaces, as if you were creating an account in an online store;
  • Choose the NFT of your choice;
  • In the Marketplace, you must use crypto from your digital wallet to purchase selected tokens. In general, the most commonly used currency for this purpose is ether;
  • Ready! You now have a non-funcible token for making your own calls.

What are the potential for non-fungible tokens for the future?

By all accounts, NFTs are far from losing their popularity. Big brands like Coca-Cola, Visa and Budweiser recently signed an agreement to launch their own NFT. GAP, the famous clothing brand, has already released NFT of its hoodies The singer and Elon Musk’s ex-girlfriend, Grimes, has already collected more than 35 million reissues in a matter of seconds, releasing her work in NFT format.

The more blockchains compete to create services for NFT World and create new platforms, the more these tokens become popular, increasing their acceptance by brands and people.

Not coincidentally, banker Morgan Stanley speculates that NFTs should move the market $ 300 billion Until 2030.

How to invest in NFT?

As mentioned earlier, one way to position yourself in this promising non-fungible token sector is to buy cryptocurrency, which is used for trading. And the Bitcoin market is one of them Safer and more practical platform For that.

Its differences include:

  • Open a free account;
  • Zero fee for account maintenance;
  • Trading 24 hours a day;
  • The possibility of buying and selling assets by computer or cell phone;
  • Good resource liquidity.

And best of all, you can invest from R $ 50, transfer the balance to your account via PIX or bank transfer. To open your free account, just click the button below:

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