Transactions based on digital assets with uniaccqueness were first established in NFT. Unique products are traded with great valuation under NFT. Thec NFT encrypts each product's data using Blockchain to prevent misuse or duplication of transactions.

For digital trading, cryptocurrency has become a well-known term. However, there are alternative trading platforms, such NFT Crypto, which have experienced tremendous growth. Though it has been 8 years since the NFT was introduced but it has grew multifold. The distinctiveness of NFT has gained popularity due to its uniqueness and secured trading is the key attraction of this platform.


The “Non Fungible Token,” also known as NFT or NFT Crypto, was initially developed and presented live on May 3, 2014, at the Seven on Seven conference held at the New Museum in New York City, by its creators Mr. Kevin McCoy and Anil Dash. It was the first test of a non-fungible token made using on-chain metadata (made possible by Namecoin), and it was connected to a special piece of artwork.

Transactions based on digital assets with uniqueness were first established in NFT. Unique products are traded with great valuation under NFT. The NFT encrypts each product’s data using Blockchain to prevent misuse or duplication of transactions.

What does NFT mean in?

While reading about NFT, a naïve may be confused with what is NFT?. So, in order to go more into how the inventor arrived at the nomenclature, we need to further grasp the NFT language—where it came from and what it means?

N : Non

F : Fungible

T : Token

Fungible—It derives from the Latin verb fungi, meaning, “to perform” (no relation to the noun fungus and its plural fungi)—is a word that often shows up in legal and political contexts. Something fungible can be exchanged for something else of the same kind. (Ref :

So “Non- No”, “Fungible – Interchange/ Exchange” and “T-Stands for Token”, which comprise the mean that which can neither be interchanged nor be replace due to the unique properties it carries.

To put the above in more specific terms, NFTs are built using the same type of programming as is used for cryptocurrencies. However, cryptocurrency differs from it since it is non-fungible, whereas cryptocurrency is fungible, which means it may be traded or exchanged for another.

Credit : Johnny Harri

What is the Unique in NFT

The beauty of NFT stands on its uniqueness only that too in terms of “Non-Interchangeable or non-exchangeable. Below are the main Key features of NFT –:

  • Unique – The NFT, in no way can be copied or may say pirated considering the Asset base.
  • Digital Asset – The NFT is Digital Asset which means no physical transaction of product. It is Internet Collectibles Such as Music, Art & Games having its authentication proved by given certificate provided by the famous Blockchain technology. The below are some of the examples of NFT :
  • Domain Names
  • Digital Collectibles such as painting etc.
  • Sneakers and
  • Games
  • Investment and Collaterals
  • Exchange – The NFT can be exchanged with Cryptocurrencies such as Bitcoin, ether etc with professional support.

What is an NFT in blockchain?

As was already mentioned, the NFT operates on the Blockchain and staked from one Block to another. The primary supporting system for NFT is the Ethereum Blockchain. The supporting functions that explain how Ethereum Blockchain works or what role blockchain plays in NFT are listed below.:-

  • Ethereum Blockchain doesn’t crash or down which gives assurance that NFT will be readily available as and when required to sell
  • With Ethereum Blockchain technology no one can steal, pirate or do any manipulation to the NFT, which makes it completely safe and intact.
  • All products on Ethereum Blockchain share same “Backend” confirming easy portability.
  • NFT is Individual Token stored with Blockchain having valuable information
  • NFT can be traded having given the price value consideration by its demand and supply

Therefore, Ethereum’s adaptability, robust programming, and popularity provide the justification for why NFTs are built on it. Additionally, any Blockchain that can support the NFT’s smooth operation and has sufficient processing and programming power can be used to construct it.

What is the difference between NFT and Cryptocurrency ?

Both cryptocurrency and NFT have the same software programming language, which means they are comparable in terms of technology, but they differ significantly in terms of uniqueness.

Since cryptocurrency is fungible and NFT is not, the main distinction between the two is between exchangeable and non-exchangeable. The aforementioned distinction is significant and thus sets both apart from one another. Therefore, while cryptocurrency can be traded and swapped, NFT cannot. But both share the same characteristics. On the other side NFT is majorly on Certification of ownership which is authenticated by NFT however in the case of Cryptocurrency, it is the digital token which is used to safeguard the transaction and take the control of new unit creation.

How to buy NFT?

Once there is a basic understanding of what NFT is ?, the essential question is how it turns into a means of making money. Some of the steps shared here are listed below: -Create Image (Art) with making it unique digital asset

  • Search for right community or marketplace with platform for NFT
  • Create Royalties on NFT
  • License Out the IP of NFT
  • ETH for listing NFT
  • Wallet set up
  • Liquidity to earn Yield post stake NFT
  • Rent out NFT with Sale process

What is NFT Marketplace?

The main and last task is to begin trading in NFT after the wallet has been configured. After a buyer or seller joins, there are numerous marketplaces that support the purchasing or selling of digital assets through auctions, depending on the individual’s interests. The following list of popular marketplaces for sharing digital assets includes:

  • – Best Crypto Exchange with NFT Marketplace SuperRare – Best NFT Marketplace For Unique Digital Collectibles
  • Foundation – Among best NFT Platforms for Upcoming Artists
  • NBA Top Shot – Best Marketplace For Sports NFTs
  • OpenSea – Best NFT Marketplace for High Trade Volume
  • FTX – New Player with Immense Potential
  • Nifty Gateway – Best NFT Marketplace for Content Creators Exclusively
  • NFT Launchpad – New NFT marketplace in 2022
  • ByBit – Get a headstart in the Metaverse
  • Binance – One of the best NFT Platforms in Terms of Volume
  • Axie Marketplace – Top NFT Marketplace For Trading Axies
  • Larva Labs / CryptoPunks – Best known for the viral CryptoPunks NFT project
  • Rarible – Best Decentralised NFT Marketplace for Collector
  • Mintable – Best NFT Marketplace Crypto For Governance
  • Nifty Gateway – Best NFT Marketplace for Content Creators Exclusively
  • SuperRare – Best NFT Marketplace For Unique Digital Collectibles

Is NFT good Investment ?

Because it is a novel way to monetize digital assets, NFT has grown in popularity over time. NFT has demonstrated its worth and may possibly shall have constant growth over time. According to study by BlueWeave Consulting, the NFT market was worth USD 20.21 billion in 2022. Many famous people have made NFT investments, including

  1. Snoop Dogg
  2. Justin Bieber
  3. Neymar Jr
  4. Paris Hilton
  5. Logan Paul
  6. Tony Hawk
  7. Shawn Mendes
  8. Eminem; and
  9. Lindsay Lohan


This page addresses a number of questions, starting with what NFT is, why individuals purchase NFT, and how NFT differs from cryptocurrency. To sum up, the NFT began its journey in 2014 and has grown in popularity thanks to a number of things, including using the same programming as cryptocurrency and the Blockchain, being legal, and last but not least, taking satisfaction in owning original digital material as an investment. The primary component is authenticity, which is created via the NFT’s certification. Due to this, numerous high-profile individuals have invested in NFT and demonstrated their confidence by doing so.

The information shared on above article or on the website is for information purpose only. It is wise advise that before making any financial decisions, it is advised conducting independent research and/or consulting with a knowledgeable professional. The Author or Website Administrator shall not be liable for any decision taken for the Investment based on shared information.

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