NFTs - the mega trend that nobody knows about?

NFT, an abbreviation you almost can't get past 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 trade of many everyday things like music albums or trading cards. Sure, everyone knows them, but not the NFTs that often accompany them. This is about to change: We explain what NFTs are and how you can handle them yourself.

What does NFT mean?

First, let's break down the abbreviation itself: What does NFT actually mean? The three letters stand for non-fugible tokens, or non-replaceable crypto value. It is a kind of certificate of authenticity or proof of ownership for various digital works, for example from 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 his/her artwork unique and unmistakably his/her own.

Buy and sell NFTs

Such purchases take place - as is the case with cryptocurrencies, for example - in digital trading venues. There, members can buy NFTs and make their works unique, but also sell NFTs. All you need is membership in a trading platform and a wallet. You also need the latter 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 gaining ground among online-savvy investors. Nevertheless, the "non-replaceable crypto assets" are currently still a phenomenon that is known to only a few. As a result, NFTs are not yet being used as frequently, which in turn is likely to make trading in them somewhat difficult. At the same time, experts point out that NFTs need not be limited to the field of art, but can also be applied to other assets.

...or a value investment with a future?

In this way, the user base could expand continuously and turn the hip trading trend into a serious investment. So you can be very curious to see where the path of NFTs will go. We will definitely keep you up to date and wish you good luck and success if you now have a taste for NFTs and want to try them out yourself!