Member-only story
Five places to explore the world of crypto non-fungible tokens (NFTs)
Non-fungible tokens (NFTs) have taken the crypto world by storm. The first craze came with “crypto-kitties”, virtual cat collectibles (see https://www.cryptokitties.co).
What are NFTs (digital goods/digital assets)?
Non-fungible tokens are digital assets which operate differently than other types of cryptocurrency tokens because they do not automatically exchange for some other token (for example there is a set exchange rate for exchanging one bitcoin for x ethereum based off market demand). The NFTs value comes from how the market values it, and from the fact that each token is an entry on the ethereum blockchain (a database where their uniqueness can be verified, even as tokens exchange hands. A digital painting with the address of 0xadhdjdjkd will always have that address, even as it moves from one digital art collector to another). The tokens can be art, poetry, or something else.
5 places to explore the world of NFTs
- OpenSea (https://opensea.io/)— an NFT marketplace.
- Nifty Gateway (https://niftygateway.com)/-a NFT marketplace. This was recently acquired by the Winklevoss twins of facebook team under their Gemini cryptocurrency exchange company.
