You’ll probably be wondering what this is all about, how work this new world so technological where physical wallets became virtual, physical currencies moved into cyberspace and this new word: NFT, which it doesn’t stop being heard. We invite you to rediscover this new world with us.
Discover what NFTs are, how they work and why they are profitable.
What is an NFT?
NFT or non-fungible tokens are goods not replaceable. They are unique digital assets (since no two are the same) like an artwork, they cannot be modified or exchanged for something of the same value and that can function as proof of authenticity and ownership within the digital world. They are impossible to counterfeit.
You can buy and sell NFT online, frequently with cryptocurrencies and it is said to be the new method of publication for artists.
How does NFT work?
Like a crypto, the NFT work through blockchain technology. NFT is assigned a digital certificate of authenticity (unchangeable metadata) where is its first value, its author and where all transactions that have been made are recorded. Also the creator can keep exclusive information in an NFT’s metadata.
Generally, NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.
How do you create an NFT?
An NFT is created from digital objects, they can be tangible or intangible items like Gifs, virtual avatars, videos, graphic art, etc.
If you still have doubts about how to create your own NFT project you can contact us. At Epical we provide personalized advice so that each of our customers can create and disseminate their projects effectively.
If you still have doubts about how to create your own NFT project you can contact us. At Epical we provide personalized advice so that each of our customers can create and disseminate their projects effectively.
Why are NFT valuable?
Their price is going to depend on the value that people want to give them, and now that they are fashionable, people offer thousand and millions dollars for them because they think that in the feature, the value of NFTs is going to increase and people will be able to sell it for a higher price than they bought it.
What is the difference between cryptocurrencies and NFT?
If you are thinking they have something in common you are wrong. It’s true, you can buy an NFT frequently with cryptocurrencies, and they are generally encoded with the same software as many cryptos, but that’s the end between them.
NFT means Non- fungible token: each one has a unique digital signature that makes it impossible for NFTs to be exchanged for another one. Whereas cryptocurrencies are fungible, meaning they can be treated or exchange for another one. Crypto’s fungibility makes it a trusted means of conducting transactions on the blockchain.
At Epical we can help you in the process of planning, implementation and monitoring of Blockchain technology to take your business to another economic scale! Boost your business with Epical, a technology innovation agency.
