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NFT

An NFT (non fungible token) is a unique asset created on a blockchain platform/application. You cannot make more of this NFT or counterfeit it, making it 100% unique from all other NFTs out there!

Can I create an NFT?

Yes, anyone can create an NFT. You just need to follow the guidelines set by that specific blockchain/platform you are creating the NFT on.

How do I make an NFT?

Creating an NFT is easy and fun. You can use a NFT creator to do it for you or you can make one yourself.

What is the cost to make an NFT?

The process of making an NFT varies from platform to platform and there is no standard price for making one. The cost of creating an NFT depends on the size and quality of the artwork. 

There is often a submission cost which can be a few dollars that goes to the network and if you are using ETH, you will likely incur some gas fees for network activity.

In the event that you sell an NFT, you’ll be charged commission costs as well as a transaction charge for transferring the money from the buyer’s wallet to yours.

Is creating an NFT free?

To begin, each NFT must be “minted” on a blockchain such as Ethereum. There is a cost associated with this process and ranges from pennies to several hundred dollars depending on network congestion.

Is NFT a good investment?

The prices of NFTs vary depending on the platform it is created on and how many NFTs are available for sale. It is possible to make an NFT valuable by employing marketing strategies, but there is no guarantee that your NFT will be popular.

Is NFT art?

Yes! Not only can you recreate famous paintings as NFTs, but anything can be turned into art using this technology. Your imagination is the limit!

Where do you sell your NFT?

There are dozens of sites out there where you can sell NFTs. Some sites have a specific NFT marketplace while others will let you post your NFT for sale on their site.

Here are a couple popular NFT marketplaces.

How much can you make selling an NFT?

It depends on the platform your NFT is being sold on and how popular it is. Some NFTs have been bought for millions of dollars while some site in the marketplace permanently.

Creating an NFT with the goal of achieving genuine societal results or raising funds to assist a charity may receive considerably more attention than a project that is primarily intended to make money.

Final thoughts

NFTs are a fun and easy way to create unique digital assets. They can be used to represent anything you can imagine and are a great way to show off your creativity. The sky is the limit when it comes to NFTs and I can’t wait to see what amazing things people come up with!

CryptoWhat
CryptoWhat was created in 2015 and has become one of the most trusted and well-respected sources of information on all things crypto. The blog's authors are dedicated to providing clear, concise, and jargon-free explanations of this complex technology, so that everyone can understand it.