We have seen a huge buzz for Non-Fungible Tokens (NFTs) in the market now. It has influenced many industries like artwork, fashion, finance, films, gaming, music, software, and sports.
The impact of NFTs has been enormous as it has crossed $30.94 billion in market capitalization and has an active trading volume of $3.02 billion according to data provided by CoinMarketCap.com.
What is a Non-Fungible Token (NFT)?
It is a unique kind of crypto collectible developed on blockchain networks like Binance Smart Chain (BSC), Cardano, EOS, Ethereum, Flow, Polkadot, and TRON.
These digital collectibles are sold on various online marketplaces like Axie Infinity, Decentraland, Foundation, GhostMarket, Gods Unchained, NBA Top Shot, OpenSea, Rarible, Sorare, and SuperRare through well-organized auctions.
NFTs can be purchased by prospective investors in the form of artwork, gaming assets, live documentaries, memes, metaverses, music (both individual songs and albums), photos, tweets, and videos.
