KEY ISSUES:

NFT is an abbreviation for Non-Fungible Token, which means a non-fungible token in Ukrainian.

Two coins of 1 hryvnia each have the same value, and you can easily exchange one for another. This is an example of fungibility, which is how most cryptocurrencies work: one Bitcoin is always equal to another Bitcoin.

But NFTs are a completely different story. So, what does NFT mean in crypto? It's like a painting signed by an artist: there may be a million copies in the world, but only one is the original. This is exactly what non-fungibility is – each NFT is unique, NFT crypto means it has its own identifier, history of origin, and owner.

Let's find out about NFT meaning crypto. NFT crypto currency is not a cryptocurrency, but a digital proof of uniqueness and ownership. And it is this property that has opened a new era for digital art, collecting, games, virtual worlds – and this is just the beginning.

How do NFTs work?

1. Blockchain is the digital foundation of NFTs

   All transactions, changes of ownership, or information about the NFT are recorded in the blockchain chain and remain there forever. No one can erase, replace, or hide them. This is what ensures transparency and protection – everyone can check who created the NFT, when, how many such tokens exist, who owned them before, and who owns them now.

   So, what is crypto NFT? In other words, an NFT in crypto is not just an object, but a digital trace that has been confirmed and stored by thousands of computers around the world.

2. Smart contracts as the brain of the system

   But the blockchain itself is not everything. Behind the functionality of NFTs are smart contracts – self-executing programs that set the rules of the game. They determine:

   • who is the author of the NFT,
   • what the token looks like,
   • whether it can be resold,
   • whether the author will receive royalties from each resale,
   • how many copies of this NFT exist.

   A smart contract literally sews these terms into the token code, and no one can change them after they are created. This is a new level of trust without intermediaries.

3. Platforms where NFTs are generated

   To create an NFT, you need to choose a platform that supports the “minting” function, i.e. the issuance of tokens. Among the most popular:

   • Ethereum is the oldest and most popular network for NFTs. This is where the legendary CryptoPunks, Bored Apes, and other famous collections appeared. It supports the ERC-721 and ERC-1155 standards, which have made NFTs a widely accepted format.
   • Binance Smart Chain (BSC) is a faster and more cost-effective alternative. It is ideal for beginners and mass use as it has significantly lower fees.
   • Solana is another technologically powerful platform with high transaction processing speed. It is suitable for NFT projects where scalability is important.

   Each of these platforms has its own wallets, NFT marketplaces, and communities. For example, OpenSea for Ethereum, Magic Eden for Solana, or Binance NFT for BSC.

   One of the key points is the cost of creating an NFT, which depends on network fees. They are called Gas Fee, which is a fee for processing your transaction on the blockchain.

   • On Ethereum, fees can range from $10 to $100+, especially during peak hours.
   • On Polygon or Solana, minting can be almost free or cost a few cents.

   Some platforms offer what is known as lazy minting, where you create an NFT but do not pay for it until someone buys it. It is convenient if you don't want to risk money right away.

How to create an NFT?

1. Create a crypto wallet

   The first step is to create a cryptocurrency wallet where you will store your NFTs and pay commissions. The most popular and convenient wallets for those looking for how to make nft:

   • MetaMask (as a browser extension),
   • Trust Wallet for mobile devices),
   • Coinbase Wallet (intuitive even for beginners).

   Your wallet is your digital passport in the NFT world. It allows you to sign transactions and own the token you created.

2. Choose a blockchain

   NFTs exist on different blockchains. The choice depends on the speed, the cost of commissions, and the marketplaces your NFT can live on.

   • Ethereum is the main platform for “premium” NFTs. It is popular but expensive to use (high Gas Fee).
   • Polygon works on the basis of Ethereum, but with minimal fees. A good option for mass launch.
   • Solana is a budget-friendly, actively developing platform.
   • BNB Smart Chain is a simple alternative for the first steps in the NFT world.
3. Minting platforms

   Minting is the process of “minting” NFTs, where your digital work is converted into a token on the blockchain. But where to sell nft? This is done on special platforms. The most popular ones are:

   • OpenSea is the largest NFT marketplace. It supports Ethereum and Polygon. It is ideal for beginner artists.
   • Rarible is more focused on community and creativity. Also allows you to create NFTs without code.
   • Foundation is a platform with a focus on digital art, with exclusive access through invitations.
   • Mintable, Zora, SuperRare — alternatives for narrower or thematic projects.

   Most platforms have a user-friendly interface: you upload a file, add a title, a description, define royalties, and click “Mint.”

How to sell NFT: marketplace platforms

The most popular platforms:

• OpenSea is the largest NFT marketplace in the world. It supports Ethereum, Polygon, and other networks. It has a user-friendly interface and a huge audience.
• Rarible is an NFT platform focused more on communities and creative authors. It allows you to easily set up royalties.
• Binance NFT is a part of the Binance ecosystem with low fees and high liquidity.
• SuperRare is a platform for exclusive digital art. Only selected artists are included, but the prices are appropriate.

You can choose how you want to sell your NFTs:

• Fixed price – you set a specific amount, and anyone can buy your NFT for it, just like in a regular online store.
• Auction – you launch an auction, set a starting NFT crypto price, and collectors can compete with each other. This method is often used for rare or popular works.

On some platforms, the “Offer Price” option is available – anyone can offer you their amount, even if the NFT is not officially put up for sale. Convenient earnings on nft.

One of the most pleasant features of NFTs is automatic royalties. You can set the percentage (for example, 5-10%) that you will receive every time your crypto artwork NFT is resold by another user.

This is a revolution for creators: for the first time in history, artists can earn income from their NFT artwork crypto not only from the first sale, but from the entire subsequent history of their work.

How to make money on NFT: the new economy of creativity and play

1. Sell what you create

   Do you paint, take pictures, record music, or have old photos you're proud of? You don't need to look for ways to make money on NFT. It is already capital.

   Selling your own digital works is one of the most direct ways to enter the world of NFT. You turn your work into a token (the process is called “mining”), put it on the platform, and it becomes available to buyers from all over the world.

   Digital artist Beeple once earned $69 million on an NFT collage of 5,000 works. Yes, this is an exception. But even beginners can sell their NFTs for $10, $50, or $500. And with each new work, they can become more visible.

2. Buy to resell – NFT flipping

   Flip trading is a strategy in which the main thing is to buy on time and sell at a profit. NFT trading with a creative flavor.

   Imagine: you buy an NFT from a new collection for $50, and in a week, this project becomes popular, and similar tokens are already going for $300. You sell it, and that's your profit.

   It is important to be careful here: follow the news, check the activity of the project community (on Twitter, Discord), and assess whether there is demand. Successful flipping is the art of finding the underrated before others do.

3. Invest in rare and collectible NFTs

   As in the world of traditional art, the NFT world has its Picassos and Monets. But instead of canvases, they are tokens. And this is what is an NFT in crypto. Sometimes the value of NFTs grows not in days but in years. And this is where investing begins.

   For example, some of the first NFTs in the Crypto Punks NFT collection are now worth hundreds of thousands of dollars, although they were once given away for free. Their value lies in their historical significance, limited quantity, and influence on the NFT culture.

   Such tokens are not bought for a quick flip, but as a long-term digital asset that has a chance to rise in price many times over.

4. Earn money through games and the metaverse

   In projects such as Axie Infinity, The Sandbox, and Illuvium, players can earn money by trading characters, skins, virtual lands, or resources. And all this is in the form of NFT.

   NFT crypto meaning has its huge role here as well. The metaverse allows you to own a piece of digital space, such as a house or gallery in Decentraland, which can be rented out or used for business. This is no longer just a game, it is a Web3 economy in which NFTs are the key to access, rights, and influence.

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Types of NFTs: from pixel to virtual estate

Digital art

The most famous and emotionally charged type of NFT.

These are digital paintings, illustrations, 3D models, videos, and GIF animations that artists create and “mine” on the blockchain.

For the first time, artists can sell their works directly to collectors without galleries, curators, and intermediaries – and receive royalties from each subsequent resale. Famous cases: Beeple, Pak, XCOPY.

Collectible items

These are digital artifacts: cards, memes, virtual characters, badges, unique avatars. Collections such as CryptoPunks, Bored Ape Yacht Club, or Pudgy Penguins are already legends. Some of their tokens are sold for hundreds of thousands of dollars.

The secret of their value is a limited circulation, unique features, and the community effect: each owner becomes part of an elite digital club.

Gaming and the metaverse

In Web3 games, virtual objects belong to the player, not to the developers. And this is a game changer. Weapons, skins, characters, animals, even land or buildings, can be NFTs that can be bought, sold, or traded on the open market like gaming NFT crypto coins.

In metaverse worlds such as The Sandbox, Decentraland, Otherside, you can own digital real estate, build galleries, clubs, or businesses. Here, NFTs are your property in the digital world.

Music and audio

Musicians are increasingly active in the NFT space. Songs, albums, sessions, licenses, concert tickets – all of them can be tokenized.

NFT allows artists to sell music directly to listeners, control distribution, and earn royalties from the resale of their works.

In other words, music becomes an investable asset. Famous examples: Kings of Leon, 3LAU, Grimes.

Virtual worlds: land, architecture and business

In metaversions such as Decentraland, Voxels, or The Sandbox, users buy NFT land and build anything from digital coffee shops to offices or theaters on it.

This is not a fantasy, but a market where digital plots are already being sold for tens or hundreds of thousands of dollars. They can generate income (through rent, advertising sales), serve as a brand showcase, or as a platform for events.

Domain names

Decentralized domains are a new type of NFT. Addresses like yourname.eth or mywallet.crypto are not just pretty URLs, but your name in Web3.

These NFT domains are used for wallets, identification, brands, and even as a way to receive crypto without complicated addresses. Platforms: Ethereum Name Service (ENS), Unstoppable Domains.

NFTs are not just digital pictures with turquoise monkeys or virtual sneakers. It is a new form of ownership, a new channel for creativity, an investment tool, and even a part of the future Web3.

If you decide to enter the NFT world, do it consciously, with a cool head but an open heart. This is where the new digital culture is being created today.

If you to know what is NFT in crypto, everything about NFT crypto art, remember: use only trusted platforms such as OpenSea, Rarible, Binance NFT, or those recommended by Bikotrading Academy. A safe start is a guarantee that NFT will not be a failure but a success story for you.