How NFT works

NFTs are marketed and distributed through online markets like Opensea. Before selecting an item to buy, investors can look through an inventory of available assets. One needs cryptocurrency to buy the digital asset, and they need to create an account on the marketplace linked to their cryptocurrency wallet. Among blockchain NFTs, Ethereum ERC-20 tokens are the most popular. A smart contract is built on the Ethereum network using the ERC-20 token. The cryptocurrencies Polygon, Solana, Binance Chain, and Polkadot can also be used to buy NFTs. NFTs have given celebrities, companies, and artists a new way to monetize their assets. Artists can now create a library of digital assets to market to a new generation of collectors and investors.

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