NFT (Non-Fungible Token)

FAQ About NFT (Non-Fungible Token)

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

What is NFT?

NFT stands for non-fungible token. The fact that it is coded with a unique data makes it unique. Almost all digital content can be NFT. For example pictures, videos, games etc. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

What are examples of NFT?

There are many examples of NFT. Everything you see in the digital environment can be NFT. Photos, music, games, videos, postcards etc. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

How can I buy NFT?

Owning ETH is paramount, as most NFTs are sold on Ethereum. This was the hard part as we will be using Ethereum for payment.

Then we connect our wallet (like MetaMask) to OpenSea or another market where NFTs are sold. OpenSea can be thought of as the market where NFTs are sold.

Now all you have to do is choose NFT and buy it. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

Can NFT be bought without being tied to cryptocurrencies?

There are some platforms made for this. However, the safety of most of them is not yet fully established. Therefore, mostly NFT transactions are made with cryptocurrencies. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

How do I make my own NFT?

First of all, you have to decide whether you really want to NFT or sell it yourself. If you want to sell yourself, the steps are a bit more complicated and longer. After that, you have to choose the platform and payment method. 

If you are going to make it yourself and sell it yourself, you need to connect your wallet to a platform such as OpenSea where NFT can be sold. You can then add your own collection from the Create button in OpenSea.

Of course, for this, a certain design or design series must be determined beforehand. It is also very important to choose the NFT you want to sell.

And as for the other situation. If you just want NFT to add to market by designing and selling to others. This time, you can work for them by contracting with companies. So you don't have to deal with gas-fees when selling on Ethereum. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

I can take screenshots or video recordings of NFTs. How are they unique?

Screenshots or audio/video recordings are considered unique as they are not original content. For example, you can see the Mona Lisa painting everywhere. You can even print it out on canvas and make it look almost real. However, you can't get the brushes and paints that touched the original Mona Lisa painting. You cannot have a painting made only once in the past times.

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

Why are NFTs so expensive?

It's because they're unique and considered collectibles that make them so expensive. In addition, cryptocurrencies, which are considered as the technology of the future, are also expensive because they are connected with concepts such as the metaverse. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

How do I know if NFT is fake?

This can be difficult to understand at first. NFT's price might be a good answer to us. If it is well below the market, it may be suspect. It is important that the seller's account is the defined account.

Also, in order not to be scammed, it may be good not to mess with NFTs in incoming spam emails.

Before investing, it is very important to look at the source and seller of NFT, whether it is legit or not, and to do research. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

What is the origin of NFTs?

Colorful coins on the blockchain are shown as the first example of NFTs.

Crypto Punks, developed by software developers Matt Hall and John Watkinson and offered for sale on Ethereum in 2017, is among the first non-fungible tokens. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

How is NFT different from other Cryptocurrencies?

The most important feature that distinguishes NFTs from other cryptocurrencies is that they are immutable. When you produce or buy an NFT, it becomes a unique asset that only you own.

NFTs recorded with blockchain technology are encrypted in a special way, making them non-copyable. NFTs, which attract great attention from collectors due to these features, also provide a great advantage to their manufacturers. When a work of art changes hands after being sold, the owner cannot earn any income from this transaction. NFTs, on the other hand, earn a certain commission to their producers when they are resold. 

NFT (Non-Fungible Token) NFT (Non-Fungible Token)
7 months ago | gizem

What effects will NFTs have?

Although there are those who think that NFTs, which experienced a great increase in demand during the Covid-19 pandemic, are a temporary bubble, the majority of those who argue the opposite of this view. It is thought that NFTs will lead to a radical change, especially in the field of art.

Many artists, who have not seen the necessary value before, have the chance to both make their name known and improve their quality of life thanks to the income they earn from NFTs. Not only in the field of art, the infrastructure of NFTs is expected to make it possible to produce and securely store important documents digitally in the future. 

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