26/07/2022
What are NFTs?
Essentially, NFTs can represent any form of a digital file, whether that's a jpeg of a piece of art, a video, or even real estate. Turning these files into 'tokens' and securing them on a blockchain make buying, selling, and trading these files efficiently and reduce fraud.
The Details of all Non Fungible Tokens
NFTs are exactly just piece of data that is owned by an address and whoever has a password to that address owns that piece of data this piece of data can be bought and sold to different addresses and that data is verified on a blockchain.
Why do people buy NFTs?
People buy NFTs for many reasons. Some view non-fungible tokens as assets to collect and trade, they see them as investments. Others just love the art or the technology behind NFTs and like to experiment with how it can be used. More and more people are now seeing NFTs as a way to launch products, raise funding and give a voice to marginalized communities. There's a sense NFTs can unlock a new kind of democracy.
What are NFTs used for?
Art and music: The most highly publicized examples of NFTs have been in visual art, especially videos and still images that have sold for millions of dollars.
Collectibles: NFT technology has also proved a fit for digital versions of other collectibles, such as trading cards.
Gaming and virtual reality: NFTs can be attached to some unique video game items such as weapons, outfits, or special characters.
How do you buy NFTs?
The technology thatโs used to power NFTs is similar to whatโs used in cryptocurrency. So if you already understand that, youโre a step ahead.
Where to buy NFTs
NFTs are sold in many ways, including through private sales, traditional auction houses and online marketplaces.
For most beginners, DeVore says itโs a good idea to start with a reputable online marketplace.
How to store NFTs
Before you buy, you may have to set up a digital wallet, which can store crypto assets, and place enough cryptocurrency in it to pay the full price. MetaMask is one wallet commonly used to buy and store NFTs.
Know more about NFTs in the E-Conference โThe Future of Internetโ happening on the 6th and 7th of Aug virtually and earn a worthy digital certificate.
Register yourself with the link given below:
https://forms.gle/meLypbqe4pmoSgfV9
Fees: 300 Pkr
HBL Account: 09797900413903
EasyPaisa Account: 03408555042
Deadline: 5th August