In the previous post, we talk about what is an NFT and in this post, I will answer the most asked and basic questions about NFT. Let’s get straight into it.
Why would you want to own an NFT?
The first reason is, you can buy it because everyone is buying it. Yes, of course, because of its emotional value. The second reason is, you can buy it because you think it is valuable and its value will increase value over time.
Can you make money out of it?
Yes. You can make money either by creating an NFT and selling it or you can buy and re-selling it.
Where can you buy an NFT?
There are a lot of platforms for buying an NFT. Platforms like Opensea, Rarible, SuperRare, Nifty Gateway, and many more.
How do you know the NFT you are buying is authentic?
The ownership of the NFT is stored on the blockchain. So if you want to check the authenticity of the NFT, you can do it by the NFT token address where you will get all the details.
Who can use NFT?
ANYONE! Anyone can use an NFT. Anyone can create and sell an NFT and anyone can buy and resell an NFT.
What is the future of an NFT?
No one knows. Some people believe in crypto and some don’t. Elon Musk believes in it and Warren Buffet doesn’t. there is still so much to explore about it.
What things you can create as an NFT?
You can create your 2D or 3D art, your music, photo, GIF, meme, tweet — yes, the tweet you post on Twitter, you can create any non-fungible thing as an NFT.
That’s it. I hope you get your answer. Let me know if I have missed anything. In the next post, we will talk about how to create and sell an NFT and how to buy an NFT.
I have also made a video about the previous post on YouTube. Click here to check it out.
Thank you so much for stopping by!
