NFT Explained: What is an NFT

NFT is definitely a large topic, as there are so many options for what to tokenize and how to properly manage the process.

There are hardly many sports and art lovers who missed out on such an overwhelming NFT boom in 2021. The greatest sale in March, totaling $69.3 million, became just the tip of the iceberg. Today, NFTs are creating a whole new market, where anyone with something unique is free to propose it to the world.

In the second video by Alex Dolgov introducing tokenization, you will get insights into the major aspects of the process and examine an NFT value. The scenario is all about the tokenization of unique items using the blockchain in order to later put them up for sale on marketplaces. We move step by step from the essence of non-fungibility to demonstrating real-life cases of successfully issued tokens.

Watch this short non-fungible token explainer video to learn what this phenomenon looks like from the inside.

Chapters:

00:00 Introduction
00:12 What are NFTs?
00:49 Difference between fungible and non-fungible tokens
1:37 A brief history of NFTs
2:30 Where can NFTs be used?
4:54 Key features of NFTs
5:40 How to create an NFT?
6:02 Where to sell and purchase NFTs?
6:24 Tips on how to choose the right blockchain
7:16 NFTs = the copyright?
7:39 Why do NFTs have value?
7:59 Cost of minting an artwork
8:28 What is the future of NFTs?


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