What is NFT, How is it done?

One of the topics that everyone has been wondering about lately is the concept of NFT. NFTs, which are expressed as Non Fungible Tokens or their Turkish equivalents as Immutable Tokens, cannot be exchanged unlike other cryptocurrencies. What is NFT after any photograph / work that has been turned into NFT finds buyers for millions of dollars? How is NFT done? queries skyrocketed in search engines.

What is NTF?

NFT, whose full name is Non-Fungible Token, means free token; This basically means it’s a one-of-a-kind digital asset that’s just yours. Popularized in both the financial and art worlds, NFT is a unique identifier that can prove ownership of digital products.

NFT technology has become even more popular in that it makes it difficult to modify or imitate music, games, movies, and similar works of art. A token, which represents a currency on the blockchain, can be exchanged for cryptocurrencies such as Ethereum or Bitcoin, while NFT Coin cannot. Because NFT has a digital signature that cannot be copied.

How is NFT done?

NFT technology, which sounds quite complicated at first, becomes easier with the opportunities offered by the digital world. NFT is being prepared by blockchain developers named Ethereum. There are platforms that ensure that these blockchains are not lost and help transactions to be carried out easily.

Each blockchain’s marketplace and wallet service is different. Therefore, it is very important to choose a reliable blockchain with a wide usage network. Once you have all this, you need to be a member of a platform that allows you to connect your wallet and upload the file or image you want to convert to NFT. Then you can upload the works you want to convert to NFT on the platform.

Similar to cryptocurrencies, there are exchanges / markets where NFTs are also sold. The most popular among them are:

  • Rarible
  • SuperRare
  • OpenSea
  • Foundation Marketplace

Please don’t forget to leave a comment if you have any questions.

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