What are NFTs?

NFT stands for "non-fungible token". NFTs are digital tokens stored on the blockchain, that can be used to represent ownership of unique digital items. They let us tokenise goods like art, music, collectibles or any physical or digital asset worth being represented in the digital space. NFTs can have only one owner at a time, and they are secured by the blockchain. In other words, no one can modify the record of ownership or duplicate your NFT.

I'm excited to start creating digital artworks in this space and have just launched my first collection of NFTs on OpenSea ready for purchase (view collection).

How to purchase my NFTs

  1. Download a Metamask wallet browser extension (It's free and you'll eventually use this to store your cryptocurrency used to purchase NFTs)
     

  2. Create a collector's account on OpenSea (this is an online NFT marketplace where you are able to buy, store and sell your NFTs)
     

  3. Download Coinbase or Binance (or any crypto exchange) and purchase some ethereum (the crypto currency needed to buy NFTs on OpenSea)
     

  4. Transfer that ethereum to your Metamask wallet...
     

  5. Now you're locked and loaded and able to buy my NFTs on OpenSea, view my collection (link TBD)

View and buy my NFTs

[VIEW MY FIRST NFT COLLECTION ON OPENSEA HERE]

FAQs

What is an NFT?
NFT stands for "non-fungible token". NFTs are digital tokens stored on the blockchain, that can be used to represent ownership of unique digital items. They let us tokenise goods like art, music, collectibles or any physical or digital asset worth being represented in the digital space. NFTs can have only
one owner at a time, and they are secured by the blockchain. In other words, no one can modify the record of ownership or duplicate your NFT.

'Non-fungible' is a definition that you could use to describe objects or goods which are not interchangeable with other items, because they have unique properties. For example, dollars are 'fungible' because you can always exchange $10 USD with 10 one-dollar bills. But, collectibles are 'not fungible', because every collectble item has a different value from another.

NFTs solve some of the problems that exist on the internet today. As everything becomes more digital, there is a need to replicate the properties of physical items like scarcity, uniqueness, proof of ownership, and anti-counterfeit.


How do NFTs work?
NFTs have some special properties:

  • Each token minted has a unique identifier

  • Each token has an owner, and this information is easily verifiable

  • No one can manipulate it in any way
     

They exist on the blockchain, and they can be bought and sold peer-to-peer as well as on any blockchain-based NFT marketplace. You are not locked into any specific platform, and you don't need anyone to intermediate NFTs.


Where will the NFTs I buy be located?
They live in the ethereum blockchain. Ethereum is the most widely used blockchain in the world, with a market capitalisation second only to Bitcoin. Most of the current NFT art market is on the ethereum blockchain.

How will I know my NFT is authentic?
NFT ownership is recorded on the blockchain, and that entry acts as a digital certificate. The blockchain is a transparent ledger that everyone can verify, but which cannot be counterfeited.