Non Fungible Tokens NFTs, Opensea and What They are all About

in hive-175254 •  7 months ago  (edited)

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Non-fungible token NFT has seen a massive rise in the past couple of months and is still one of the most talked about topics in the crypto world at the moment… Non Fungible Tokens has been around for some time now but have received a lot of attention and recognition over the past months. Before proceeding to explain what NFT or Non-Fungible Tokens are all about in a more simple way, let’s first of all understand what fungible means that way it is easier to understand what non-fungible is.

Fungible simply means an asset that is interchangeable or equivalent to a particular unit and is divisible. A clear example of fungible tokens are most of the cryptocurrencies we have at the moment like Litecoin, Bitcoin, Ethereum etc are all fungible because they can be interchangeable with one another without any difference.

For instance, 1 bitcoin held by person A is the same as 1 bitcoin held by person B and also 1 bitcoin is divisible because anyone can own 0.0001 bitcoin. However Non-fungible token is the complete opposite of that.

Non-fungible tokens NFTs simply means tokenized digital assets or tokens on the blockchain that are unique with their own identity and are indivisible. NFTs are unique and indivisible tokens that represents and identifies the underlying digital asset on the blockchain.

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OpenSea NFT Market

Opensea NFT market is one of the many NFT marketplaces that allows anyone to buy and sell NFT digital arts. Opensea is simply a marketplace that specializes in NFTs, allowing its users to buy NFTs from the amazing list of NFT arts listed on the platform, create and sell NFTs as well as auction sales. Opensea is a very popular NFT marketplace and is ranked one of the top NFT marketplaces in the crypto right now.

In my opinion, opensea is the best and my favorite NFT marketplaces at the moment because of its features and capabilities. I like opensea marketplace for a couple of reasons, most especially how easy it is to use the platform. A lot of NFT marketplaces are quite complicated to use, which makes it a bit of a pain for people who are still new to the NTF world.

Buying an NFT from Opensea is as easy as already having metamask installed on your machine and simply connecting opensea to metamask on the opensea website. Once the matamask wallet is connected to opensea, everything else is easy and straight forward. Selling items and creating NFT on opensea is very easy as well and doesn’t take much time…

it is just a matter of few steps to complete the NFT creation process. Also, the low fees on opensea is one of the things I like about the platform because it means that even newbies in the NFT space can have access and enjoy the platform without worrying too much about ridiculous fees.

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NFTs have been making some rounds of news lately and we are seeing many people entering into it, particularly the celebrities. And Opensea has remained one of the biggest marketplaces for NFTs. I believe that NFTs will continue to make more waves.

Nice piece buddy