Thread by @langford_dev

What are NFTs?🔥

Learn 'everything' about them!

Le Thread🧵👇🏽

NFT is short for Non-Fungible Tokens

They may look like pictures, but there's a lot under the hood.

NFTs are:

- one-of-a-kind
- rare
- are non-fungible
- can be sold

Any digital item can be an NFT - audio, photo, video, etc

🏞 Artworks are the most popular kind of NFTs

Non-fungible 🔐

NFTs are termed non-fungible because they can't be traded for other NFTs

They're one-of-a-kind and each NFT holds a specific value.

An NFT can't be exchanged for another NFT cos NFTs have different values unlike money where 1$ is worth 1$, and 2$ worth 2$...

Under the hood 🕵🏾‍♂️

NFTs may look like images you can just 'copy-and-paste', but they have unique metadata attached to them which looks like this 👇🏽

The images we see are just a representation of this metadata. So technically, this is all an NFT is 👇🏽👇🏽

So why are NFTs 'Expensive'🤔💭

- they can be traded easily through NFT marketplaces

- they allow buyers to own the original item, acting as a collector's item

- they are rare, unique, and scarce since only one original version exists, thus, making them expensive

Popular NFT marketplaces

- Opensea @opensea
- Rarible @rarible
- Axie Infinity @AxieInfinity
- Super rare @SuperRare
- Decentraland @decentraland
- CryptoKitties

What makes NFTs 'Valuable'?🤔💭

- Owning a kind of NFT can represent your engagement with a particular group

- They can act as tokens to exclusive & premium content of the group it acts in

- They represent complete ownership of the item

You can own an NFT by:

- creating one
- buying from an NFT marketplace
- being gifted one

The only networks today that support NFTs are the Ethereum and Solana blockchain networks

🛠 Minting

Minting is how a digital item becomes part of the blockchain. Similar to how money is printed and put in circulation.

It can be done by linking your wallet to a crypto marketplace to get an NFT after minting 👇🏽

An NFT is minted once its created

Difference between Minting and Buying an NFT🤔💭

When you mint an NFT, you will be creating an entirely new item onto the blockchain

But when you buy an NFT, it'll require that a pre-existing item has already been minted into an NFT before you can buy

How to mint an NFT 🤔💭

- create an account on MetaMask, @coinbase, etc
- Load your wallet with crypto
- Then go to an NFT marketplace like opensea.com
- start minting 😎

How to create an NFT🦄

- Identify the digital item
- install Metamask
- choose a marketplace (eg opensea.com)
- Sell & Mint your NFT from the marketplace

If you want to know more about NFTs, visit:

binance.com
decrypt.co
cointelegraph.com
bitcoin.com

And follow my favorite Twitter accounts:

- @langford_dev
- @oliverjumpertz
- @heyOnuoha
- @VittoStack
- @Haezurath

Thanks for reading!

I post daily Web3, NFT & Blockchain development 👋

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