What are NFTs and how do they work?

Non-fungible tokens (NFTs) are digital assets that represent ownership of a unique item or asset. Unlike traditional cryptocurrencies, which are interchangeable and have the same value, NFTs are unique and cannot be exchanged for other tokens or assets.

NFTs are created using blockchain technology, which is a decentralized, distributed ledger that records transactions in a secure and transparent manner. When an NFT is created, it is added to the blockchain and given a unique identifier, called a "hash," which allows it to be tracked and verified as authentic.

There are many different types of NFTs, including artwork, collectibles, and even virtual real estate. NFTs can be bought and sold on various online marketplaces, such as OpenSea, Rarible, Nifty Gateway, and SuperRare.

To buy or sell an NFT, you will need a digital wallet that is compatible with the blockchain the NFT is built on. You can then use your wallet to store and manage your NFTs, as well as buy and sell them.

NFTs have gained popularity in recent years due to their ability to provide ownership and scarcity for digital assets. They have also opened up new opportunities for artists and creators like me to monetize their work in a way that was not possible before.