{"id":1416,"date":"2021-12-08T12:55:17","date_gmt":"2021-12-08T12:55:17","guid":{"rendered":"https:\/\/yourcryptolibrary.com\/?page_id=1416"},"modified":"2025-04-23T10:10:44","modified_gmt":"2025-04-23T10:10:44","slug":"non-fungible-token-nft","status":"publish","type":"page","link":"https:\/\/yourcryptolibrary.com\/nl\/cryptocurrency-types\/non-fungible-token-nft\/","title":{"rendered":"Non-Fungible Token - NFT"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"1416\" class=\"elementor elementor-1416\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-59c62cf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"59c62cf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5de9c8f\" data-id=\"5de9c8f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-014b060 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"014b060\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-10aace2\" data-id=\"10aace2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fa4845d elementor-align-center elementor-widget elementor-widget-button\" data-id=\"fa4845d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"#\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Learn more about cryptocurrrencies<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4f5aad4\" data-id=\"4f5aad4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce82b0f elementor-align-center elementor-widget elementor-widget-button\" data-id=\"ce82b0f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"\/exchanges\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Trade Crypto<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-807a276 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"807a276\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;,&quot;h3&quot;,&quot;h4&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h4 class=\"elementor-toc__header-title\">\n\t\t\t\tTable of Contents\t\t\t<\/h4>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__807a276\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__807a276\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__807a276\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b6ffa7 elementor-widget elementor-widget-heading\" data-id=\"3b6ffa7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are Non-Fungible Tokens (NFTs)?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-29670e9 elementor-widget elementor-widget-text-editor\" data-id=\"29670e9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">Briefly summarised, Non-Fungible tokens (NFT) are tokens that are unique and cannot be replaced with something else. This might sound abstract, but NFTs are the perfect fit for digital collectibles, art, luxury goods, and all sorts of other physical and digital products that can be verified on the blockchain.<\/p><p class=\"p1\">Though, it\u2019s much more than that! There are, for example, projects that enable companies to issue their event\/festival tickets as NFTs or certificates of authenticity that are issued on the blockchain.<\/p><p class=\"p1\">In a time where it\u2019s difficult for artists to make money, NFTs have enabled plenty of artists who understood the value to grab this opportunity early and earn a lot of money by creating their digital art or proof-of-ownership for physical creations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9249f48 elementor-widget elementor-widget-heading\" data-id=\"9249f48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are NFTs used for?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-96dd094 elementor-widget elementor-widget-text-editor\" data-id=\"96dd094\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-preserver-spaces=\"true\">NFTs are created using smart contracts. The NFT community initially started to create their tokens on the Ethereum Network, as it\u2019s the largest blockchain to offer smart contracts and is most trusted by the cryptocurrency community.<\/span><\/p><p><span data-preserver-spaces=\"true\">Though it became very costly to create them on the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/yourcryptolibrary.com\/ethereum\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ethereum Network<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0because of the gas fee climate, NFTs also found their way onto the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"\/defi\/binance-smart-chain-bsc\/\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Binance Smart Chain<\/span><\/a><span data-preserver-spaces=\"true\">, Polkadot, Wax,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/yourcryptolibrary.com\/coin\/solana-sol\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Solana<\/span><\/a><span data-preserver-spaces=\"true\">, and other networks.<\/span><\/p><p><span data-preserver-spaces=\"true\">There are, however, discussions among the different communities where concerns are expressed for smaller networks. Their gas fees are lower,\u00a0 but various community members warn for the potential risk of these networks failing, leaving you empty-handed.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0bad8e0 elementor-widget elementor-widget-image\" data-id=\"0bad8e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"500\" src=\"https:\/\/yourcryptolibrary.com\/wp-content\/uploads\/2021\/12\/NFT-jpg-image.jpg\" class=\"attachment-large size-large wp-image-1425\" alt=\"\" srcset=\"https:\/\/yourcryptolibrary.com\/wp-content\/uploads\/2021\/12\/NFT-jpg-image.jpg 880w, https:\/\/yourcryptolibrary.com\/wp-content\/uploads\/2021\/12\/NFT-jpg-image-300x188.jpg 300w, https:\/\/yourcryptolibrary.com\/wp-content\/uploads\/2021\/12\/NFT-jpg-image-768x480.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dab05ff elementor-widget elementor-widget-text-editor\" data-id=\"dab05ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-preserver-spaces=\"true\">So far the main use case of NFTs is to create and collect collectibles. For example, Beeple, a well-known artist, managed to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.theverge.com\/2021\/3\/11\/22325054\/beeple-christies-nft-sale-cost-everydays-69-million\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">sell one of his digital pieces for a whopping $69M<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0USD back in March.<\/span><\/p><p><span data-preserver-spaces=\"true\">There is also\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nbatopshot.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">NBA Top Shot<\/span><\/a><span data-preserver-spaces=\"true\">, where users can collect over 10 million different Top Shot Moments. These are short video fragments of special moments during basketball games.<\/span><\/p><p><span data-preserver-spaces=\"true\">Another extraordinary NFT use case is\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/ens.domains\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ens.Domains<\/span><\/a><span data-preserver-spaces=\"true\">, where users can register names such as 420.ETH (owned by me, Marco) to store all of my addresses, receive any cryptocurrency, token, or NFT in one address. Rather than having to share my long 0xd34123412\u2026 address, I can simply share 420.ETH with people and enable them to send me these above-mentioned assets in a much simpler way. Ens Domains is already supported by over 200 different platforms and wallets, including\u00a0<\/span><span data-preserver-spaces=\"true\">Coinbase<\/span><span data-preserver-spaces=\"true\">,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/yourcryptolibrary.com\/bitcoin\/buy-bitcoin\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Huobi<\/span><\/a><span data-preserver-spaces=\"true\">, Etherscan,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/yourcryptolibrary.com\/coin\/uniswap\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Uniswap<\/span><\/a><span data-preserver-spaces=\"true\">, and many other applications.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-967e2ff elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"967e2ff\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-566d9fb\" data-id=\"566d9fb\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0341fd6 elementor-widget elementor-widget-heading\" data-id=\"0341fd6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Where can I buy NFTs?\u200b<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3a7240 elementor-widget elementor-widget-text-editor\" data-id=\"c3a7240\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p class=\"p1\">NFTs can be bought on different platforms, depending on the network used or the community you\u2019re looking for. There are a couple of marketplaces we\u2019d recommend using if you\u2019re interested in exploring the world of NFTs further.<\/p><p class=\"p1\">These platforms are:<\/p><ul class=\"ul1\"><li class=\"li1\"><a href=\"http:\/\/opensea.io\/\" target=\"_blank\" rel=\"noopener\">Opensea<\/a><\/li><li class=\"li1\"><a href=\"http:\/\/rarible.com\/\" target=\"_blank\" rel=\"noopener\">Rarible<\/a><\/li><li class=\"li1\"><a href=\"http:\/\/niftygateway.com\/\" target=\"_blank\" rel=\"noopener\">Nifty Gateway<\/a><\/li><li class=\"li1\"><a href=\"http:\/\/superrare.co\/\" target=\"_blank\" rel=\"noopener\">SuperRare<\/a><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Learn more about cryptocurrrencies Trade Crypto Table of Contents What are Non-Fungible Tokens (NFTs)? Briefly summarised, Non-Fungible tokens (NFT) are tokens that are unique and cannot be replaced with something else. This might sound abstract, but NFTs are the perfect fit for digital collectibles, art, luxury goods, and all sorts of other physical and digital [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1417,"parent":1379,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-1416","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Non-Fungible Token (NFT)<\/title>\n<meta name=\"description\" content=\"Non-Fungible tokens - NFT are tokens that are unique and cannot be replaced with something else. 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