What are NFT's and What can they do for you and me.

What are NFT's and What can they do for you and me.

It seems like everywhere you look you hear about all these crazy NFT sales, and about people making millions with NFT's, but what are NFT's and what they can do for you other than make you wealthy.

Non-Fungible Tokens (NFT): Beginner’s Guide - Decrypt
Non-fungible tokens, or NFTs, are crypto assets that are indivisible and unique. That means they have digital scarcity—creating a booming market for NFT collectibles and artworks. Here’s how they work.

NFT stands for non-fungible token.  Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.

Bored Ape Yacht Club Sells $96 Million of Mutant Ape NFTs in One Hour - Decrypt
The Bored Ape Yacht Club sold 10,000 Mutant Apes for 3 ETH each yesterday, now trading more than double the mint price.

At a very high level, most NFTs today are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin.

Ethereum NFT CryptoPunks Hit $1 Billion in Total Sales - Decrypt
Ethereum NFT collectible CryptoPunks has hit a historic milestone as the second project to reach $1 billion in trading volume.

Examples of  NFT's that have been making headlines are the Bored Ape Yacht Club an exclusive society or social organization, and owning one of the coveted NFTs unlocks that membership. It earns users access to an exclusive Discord server, for example, where fellow owners—including celebrities—hang out and chat. And Apes tend to flock together on social media, where the increasingly familiar avatars have united a digital brotherhood of sorts. BYAC is a collection of 10,000 profile pictures minted as NFTs on the Ethereum blockchain.

Snoop Dogg Reveals Himself as Ethereum NFT Whale With $17M Collection - Decrypt
Snoop Dogg says that he is Cozomo de’ Medici, a pseudonymous crypto Twitter personality with a highly valuable Ethereum NFT collection.

An NFT acts like a receipt or a deed of ownership to a provably scarce digital item, and it can represent a still image, video file, video game item, and plenty more.

Brave Yeti Alien Camp Tribe | Linktree
A limited NFT collection where the NFT doubles as your membership to the club