If you are an avid fan of the NFT world, then you must know that new drops and minting prices are not stable, and it can be hard to keep up with at times. The NFT world is constantly fluctuating, therefore some fans may find it hard to be updated with the latest drops in prices and new mintings that should be followed. To make sure that you are kept updated with the times, you should check out the latest NFT calendar by NFTeller.
Not everyone truly understands what NFT is. If you are curious to know what NFTs are and why they are so popular in today’s world, it’s best that you keep reading this article.
What is an NFT?
NFT stands for non-fungible token. If that is a little unclear, non-fungible refers to something that is unique in its existence, and cannot be replaced with anything else. As an example, a bitcoin, perhaps– can be fungible, as it can be traded for money or for another form of cryptocurrency to reach the same value.
A token that is one-of-a-kind on the other hand, is non-fungible. Trading it would mean that you would get something completely different. So, how do they work?
NFTs are a part of the Ethereum blockchain, which is an emerging cryptocurrency. Though as time has passed, other blockchains have started to implement their own takes on NFTs. Ethereum is the currency, and it keeps track of the traders and makers of the NFTs.
NFTs can be presented in many forms. From drawings to music, there is virtually no limit to what type of digital art can be turned into an NFT for selling purposes. It is meant to create a new concept for the act of fine art collection, but for digital art.
So, what does this all mean?
NFTs are designed to give you something that can’t be duplicated, which is the ownership of the artwork. Although, the artist of the NFT art you bought will still be able to retain the copyrights and reproduction rights. (If you’re a Swiftie and you’re familiar with the case of her label’s ownership of her music, you’ll understand this too!) Which ultimately means this: Anyone can buy a print of the Mona Lisa, but only one person can own the actual original art.
With digital art, even having a copy of the art is as good as having an original. With that being said, NFTs give artists a way to sell their work in case there is no physical market for their genre of art. Like we mentioned earlier, there are virtually no limits to what you can turn into an NFT. If you think that diving into the NFT marketplace is a good idea, well, you’re right! But make sure that you have the latest NFT calendar as you will need to make sure that you’re constantly updated with price drops and latest updates of the NFT world.