NFTs…What’s that about?

This is for the people who keep getting texts from their grandma asking what in the world an NFT is, but don't quite have a good answer to give them. We’re here to clear a little bit of that up for you so you don't keep ghosting Nana’s text. 

What are they? 

NFTs are considered non fungible tokens, meaning they’re uniquely their own digital asset that cant be replicated. So that ape you saw on Marshmellow’s profile page is one of a kind, even though there’s plenty of others out there he is the sole owner of his own. 

How do they work? 

Similar to how cyrptocurries operate, NFTs are backed on the blockchain which works as a ledger for recording transactions and purchases. Typically NFT’s will find their way of being implemented through the Etherum blockchain. Although, there are a few others that can support them as well. 

When an NFT is created it then going through a “minting process” for digital items that could include: 

• Photography 

• Digital Animations 

• GIFs

• Videos and Highlight Reels

• Music

Really, the list goes on and on… 

How to get started…

First things first, you’ll need to set up your own crypto wallet with some funds you can easily add or purchase from Coinbase, Kraken, or even Robinhood. Then the hunt begins as you set out for the NFT that catches your eye and is calling your name. Take a look on some of these websites: 

• OpenSea.io 

• Rarible 

• Foundation

Keep in mind that there may be exchange fees when you’re ready to buy. Tweet us what you end up with and welcome to the NFT gang!