NFTs - the mega-trend that nobody knows about?

NFT, an abbreviation that is almost unavoidable when you're online - especially when it comes to online trading. But we don't just mean complicated stock market transactions or the like. NFTs accompany the trading of many everyday things such as music albums or trading cards. Sure, everyone knows them, but not the NFTs that often go with them. That is about to change: We explain what NFTs are and how you can use them yourself.

What does NFT mean?

Let's start by breaking down this abbreviation itself: What does NFT actually mean? The three letters stand for non-fugible tokens. It is a kind of certificate of authenticity or proof of ownership for various digital works, for example in the field of art, i.e. pieces of music, comics or videos. Collectible cards or pictures and even tweets can also be provided with NFTs.

How do NFTs work?

Few people know this - but if you are reading this, you are now one of them. NFTs turn works into digital assets, they work like a kind of watermark and anyone can buy NFTs to make their artwork unique and unequivocally their own.

Buying and selling NFTs

As with cryptocurrencies, for example, such purchases take place on digital trading platforms. There, members can buy NFTs and make their works unique, but also sell NFTs. All you need is membership of a trading platform and a wallet. The latter is also needed to trade cryptocurrency and some wallets can be used for both NFTs and cryptocurrency.

Are NFTs just hype...

NFTs are a real trend that is currently on the rise, especially among online-savvy investors. Nevertheless, "non-replaceable crypto assets" are currently still a phenomenon that only a few people are aware of. As a result, NFTs are not yet being used as frequently, which in turn is likely to make trading them somewhat difficult. At the same time, experts point out that NFTs do not have to be limited to the field of art, but that they can also be applied to other assets.

...or an investment with a future?

In this way, the user base could continue to expand and turn the hip trading trend into a serious investment. So it will be interesting to see where NFTs are headed. In any case, we will keep you up to date and wish you good luck and success if you have now acquired a taste for NFTs and would like to try them out for yourself!