NFTs on Ethereum are based on open-source standards and you hold them or “custody” them in your own wallet. After creating a collection and naming it, you can create and add NFTs to it using image files, video files, 3D models, music files, or basically any type of digital content file.

Why are NFTs so expensive?

The crypto community’s eagerness to invest in these assets has driven their prices sky-high, with the most popular NFTs selling for millions of dollars. An NFT’s value comes from its uniqueness and allows digital artists to profit from their work.

NFTs with collectibility games (set completion, traits, etc) do better than others. NFTs should create utility for owners. NFTs should be media that creates a sense of “patronage” over their work/legacy for the buyer.

How do I buy NFTs?

How to Buy NFTs – A Quick Overview
Buy Cryptocurrency: Join and fund a cryptocurrency marketplace like Coinbase to purchase ETH.Get a Cryptocurrency Wallet: Signup for a “Non-custodial” wallet like Metamask, which is where you can store and control your cryptocurrency and digital assets.

What does NFT stand for? Non-fungible token. That doesn’t make it any clearer. Right, sorry. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else.