Where can you get NFTs?

NFT is an abbreviation for Non-Fungible Tokens, unique digital assets based on blockchain technology. They allow you to save rights to any products of intellectual work, including inventions, music tracks, books, paintings, etc. Thanks to the use of blockchain technology, the coins are reliable and protected from counterfeiting and hacking. Such assets are seen as the digital counterpart of tangible collectibles.

NFTs are a blockchain ledger entry that is stored on tens of thousands of computers. Unlike ordinary tokens, which can be fungible, each NFT is unique and has its own set of characteristics. It is a digital certificate tied to a specific object.

Such a certificate contains detailed information about the creator, buyers and transactions that were carried out with his participation. Such a token is unique, it cannot be replaced by any other coin or divided. For example, when converting USD to TRX , you most likely will not have an integer number of coins on your balance. 

NFT is sold or bought only in its entirety. In this format, you can sell almost anything: textual information, a 3D model, video, images or music. The value of such an asset depends solely on the demand for the product and the popularity of the creator.

Where to get NFTs

With the increasing demand for NFTs, more and more people are looking to get them. This is quite possible and we will consider how.

P2E games

One source of NFTs is the growing popularity of P2E games. Game characters, their equipment, skills, digital real estate – almost all elements of the game world are NFTs. Among the most popular games where you can earn non-fungible tokens are Alien World, DeFi Kingdoms, Spells of Genesis, Nine Chronicles. There are games where character reproduction is provided.

Reproduction of tokens

To create new characters, you need to have one or more source tokens. They can be bought or received through airdrops or giveaways. The conditions and rules of reproduction are individual in each game world.

Distribution

This is a fairly common practice. Usually distributions are held among clients of certain projects and companies. To get coins, it is enough to take part in the promotion and fulfill its conditions.

NFTs are distributed to the most active users as a reward for activities that help promote the project. It could be:

  • Active participation in community life.
  • Writing comments in a group.
  • Posting articles and posts on social media.

Since giveaways offer a chance to get coins for free, they are very popular among users. Airdrops and draws are very similar to distributions, which are held for the same purposes and, in general, on similar conditions.

Create a token yourself

If you have a unique product, then it can also be turned into an NFT. The tokenization algorithm is, in principle, not complicated:

  • Install an NFT-enabled cryptocurrency wallet, such as TrustWallet.
  • Choose a marketplace to tokenize your product, such as OpenSea or Binance.
  • Download the tokenization file.
  • Create a non-fungible token.
  • Replenish your cryptocurrency wallet and pay commissions and fees.
  • Place a ready token for sale and wait for your buyer.

When choosing a platform for creating an NFT, it is important to consider the size of commissions, the availability of the necessary tools, the ability to contact support, the number of potential buyers, etc. And of course, your token must have value. The value of a token largely depends on your personal popularity in a particular area.

Staking

Asking the question “how to mine Tron” you don’t even suspect that the answer to it is also suitable for NFT. They are not mined, but staked. That is, tokens are blocked on a certain service for a certain period of time. During this period, they cannot be used, but the owner is paid a reward. There is a staking feature in some modern games, such as Axie Infinity.

What to do next

Suppose you already have some NFTs and would like to get paid for them. This is possible through resale and investment. In fact, reselling can be seen as a variant of regular trading. You buy an asset and quickly sell it for a higher price. Investing also involves a longer storage of the asset.

Regardless of which strategy you choose, you will need start-up capital. In addition, it is important to consider possible risks.

  • The value of NFTs depends heavily on the popularity and reputation of their creator.
  • Public interest in the asset may fall.

Predicting possible profit is even more difficult than in trading with classic cryptocurrencies.

It is clearly premature to say that the NFT market has fizzled out, because it is just emerging. The possibilities of using this type of assets are not yet sufficiently understood, and this is one of the reasons for holding back its development.

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