An emerging class of indivisible and non-interchangeable cryptocurrency assets have been launched in the market in the form of NFTs. These digital collectibles can be easily bought and sold on the leading NFT marketplaces like OpenSea, NBA Top Shot, Rarible, and many more.
We have seen a huge buzz for Non-Fungible Tokens (NFTs) in the market now. It has influenced many industries like artwork, fashion, finance, films, gaming, music, software, and sports.
The impact of NFTs has been enormous as it has crossed $30.94 billion in market capitalization and has an active trading volume of $3.02 billion according to data provided by CoinMarketCap.com.
What is a Non-Fungible Token (NFT)?
It is a unique kind of crypto collectible developed on blockchain networks like Binance Smart Chain (BSC), Cardano, EOS, Ethereum, Flow, Polkadot, and TRON.
These digital collectibles are sold on various online marketplaces like Axie Infinity, Decentraland, Foundation, GhostMarket, Gods Unchained, NBA Top Shot, OpenSea, Rarible, Sorare, and SuperRare through well-organized auctions.