What is NFT? How to sell and buy artwork with NFT?

What is an Non-fungible Token (NFT)?

NFT token is actually a definition that can be made for all cryptocurrencies and tokens in the status of “immutable tokens”. Known as Ethereum-based ERC-721 tokens, NFTs are actually collectible items.



RC-20s, the popular type of token on the Ethereum network, can be produced in any number of numbers and are basically the basis of many DeFi projects. However, NFTs, ie ERC-721-based tokens, can only be in a certain number and can be collected in this way.

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These can be used not only for collectible items but also to prove ownership and originality of something. The feature known as Fungibility means that tokens with this status can be substituted for each other. However, this is not the case for NFTs, so they are “unchangeable”.

Artworks, blockchain-based private collection tokens and designs can be sold in NFT format. There are NFT trading locations similar to the same cryptocurrency exchanges used for these. These can be given as Opensea, Arkane Network and Aave. Rarible, on the other hand, is currently seen as one of the most popular NFT outlets.

In the last months of 2020, the first series of Sgustok Magazine sold for $ 1.34 million. Additionally, a very rare “alien” themed CryptoPunk NFT was recently sold for $ 750,000 or 605 ETH.

NFT Coin List

Although there is no such definition as NFT Coin, there are many projects that have started NFT-based coins. It can be enough to use Cryptokitties, Decentraland, WAX, Codex Protocol, Opensea, Rare bit, Sorare and many other projects to get NFT Coins.

Where To Buy NFT Coin?
Although it is possible to purchase NFT Coins from the above mentioned platforms, some of the NFT-focused projects can be traded on the Binance crypto currency exchange.