What is NFT?

[BazinyAmg]

 I have been seeing  NFT everywhere, and i also read about them. but i still don't  what they are all about, can someone help explain what makes them so unique? And how can someone benefit from it, what the big deal about having one and how do people gets it.

[Charles-Tim]

NFTs was very common in 2020/2021 when they were introduced to ethereum blockchain. Other blockchain also develop a way people can created NFTs.

Example is if you have anything online like a picture and created a private key for it and sell it to someone. The private key is what that makes it unique which proves you are the owner of the picture. Others can have the picture but you have the private key as the owner.

You know people are ignorant. They bought NFTs at high price but their prices fell as people are turning to other things. Like this season, people turned meme coins.

Gone are the days of NTFs craze.

[KryptoBell]

I have been seeing  NFT everywhere, and i also read about them. but i still don't  what they are all about, can someone help explain what makes them so unique? And how can someone benefit from it, what the big deal about having one and how do people gets it.

NFTs are unique because each one can’t be replaced with another. They are digital assets mostly arts with the owner’s signature onchain. Even though they are not profitable as they used to be, people made a lot from them few years back. Artists sell their works directly to investors, investors then go ahead to trade them. Opensea was popular then.

[Aanuoluwatofunmi]

I have been seeing  NFT everywhere, and i also read about them. but i still don't  what they are all about, can someone help explain what makes them so unique? And how can someone benefit from it, what the big deal about having one and how do people gets it.

Non fungible token is what is being common, you can even search on the internet to know its meaning without asking by creating a thread, some things could be well seen and known when we search them than claiming a novice about them and not taking any step in researching on them before asking, we most times first engage in doing our own research before asking others when we couldn't get a satisfied result.

[bayu7adi]

Getting benefits from NFT? Well, let's say you have a work, an easy example is your artwork... when your image has been uploaded to the internet, anyone can download it and reuse it, but with NFT... you will be able to prove that the image is yours, your NFT ownership certificate will be the official proof, even though your image has been screenshotted by someone else... so other people can't just use the image...

When you set a price for your image, you can transfer the certificate, many people's favorite marketplace is OpenSea, besides that when your work is sold to a third party, you will also get royalties... the amount is usually 10%, but that can be set in the NFT settings...

The point is you can get money when your image is really in demand by other people.

[TomPluz]

I would not anymore get into the details as to what is NFT is and what are the possible things we can gain from it...but instead I would like OP to know that we are not in the NFT era anymore and nobody can be sure if there is a chance for NFT craze to come back. Imagine owning an image of a stone which you bought for thousands of dollars and realizing later that it is now worth less than $1...would you be content and be happy at just gazing at that very valuable stone? Unless of course, if embedded with owning the stones are some additional utility cases or even some other tokens maybe that can be worth it all. Right now, the market has already got waken up from the NFT dream and may realized they were hoodwinked unintentionally.