What are NFTs? How do you create your own NFT? How to trade? Why are NFTs valuable? — Starting guide to NFTs

5 min readJul 15, 2021

Necessary NFT-Creating/Fractionalizing — — “NFTPlay” Platform

In 2017, Cryptokitties, an NFT of a visual cat produced in the internet cloud, sold out at an extremely high price, 100,000 dollars, which shocked the investors in the blockchain.

However, this shocking story was covered by another thrilling story in a short time, then another by another.

The NFT project boosts this year, there are ten thousand users join the NFT investment group in a few months, which is much more than the increase of the Defi user.

At this time, many NBA Topshots’ cards were made and created as NFTs, one of them could be sold out at 100,000 dollars at least.

Moreover, the total revenue increased 140 times within one month, which is far more than the general sales of Cryptoketties.

An NBA Superstars’ card shots a visual cat to die in the NFT passage! LOL😊

However, that is absolutely not the end, on 11th May, an artwork《 Everydays — The First 5000 Days 》, which takes him 13 years, from an unwell-known artist Beeple, actioned at $ 69,346,250 on Christie.

This sky-high price action aroused countless invertors and speculators to join in.

Like some celebrated movie stars, Yui Hatano and Yayi Uehar, want to issue NFTs.

Yayi Uehara converted her personal photos into NFTs, of which the total sale is 31 ETH. And the price is becoming higher and higher. This is not the only case. The cryptopunk that is just a pixelated avatar sells at more than 10,000 dollars. Many industries are ready to issue NFTs, including the singer, artist, metaverse, game, luxury, and so on. The promising market of NFTs convinced so many capitals of crowding into this race that Justin Sun failed to compete for a willing NFT. NFTs have been a part of our life. Do you really know it?

What are NFTs

NFT, Non-Fungible Token. General Tokens like BTC、ETH、MATH, is Fungible tokens. For instance, every $NPT or BTC is the same, can exchange one for another，but every NFT is unique, variant values, unchangeable.

The emergence of NFTs help tons of artists.

The artists could issue their NFTs by making their digital artworks and converting them into NFTs on IPFS, then sell NFTs on the exchange platform. Due to the characteristics of blockchain, every NFT records on the blockchain, which solves the problem of distinguishing the true from the false. Moreover, the intact NFT is saved in the blockchain wallet.

The ownership of the NFT

People who play games always spend some money on equipment. Even though on social media, we can buy a skin for our profile appearance. While these visual commodities are all stored on the services of the intermediary company by any means. Once the intermediary failed, the skin and equipment you bought would disappear, neither.

However, the NFT is completely different from that, it belongs to you merely and could be stored on the blockchain constantly.

For instance, you could convert your artwork or any digital collectibles into NFT on the NFT Play platform and save it in your digital wallet on the blockchain forever. Whenever you would like to appreciate it, you display them on the TV at home with the “NFTPlay” App downloaded from Google play.

Can we create NFT？

As a beginner who wants to have an NFT, you could create it on an NFT Platform like “NFTPlay” that has this function. But you need to install a blockchain wallet like Metamask which supports NFT storage firstly. Because the NFT storage costs the blockchain resources, then you should deposit some ETH as the GAS fee, which is used for miners of Ethereum to record your NFT on the blockchain.

How to trade NFT？

When you are an NFT holder, you could sell it on the NFT market platform, such as Opensea、RARI、Treasureland, and so on

You can also issue ERC20 tokens by fractionalizing your NFT on some NFT platforms like NFTPlay.

How many people are actually playing NFT?

According to the datum on cryptoart.io, From the beginning of Feb, the amount of crypto art on all kinds of NFT platforms rise sharply from 20M to over 0.2B per month.

Let’s guess how much the below pic sells out?

Regardless of the artworks from the popular artist, seeing this kind of simple NFT sold out at such a high price, which drives everyone to join this group for sharing the benefits from it.

Risks remind of investing in NFT

Everyone could make an NFT on an NFT platform. If you are new to NFT and are urgent to invest in NFT for making tons of money at one night. On the contrary, you most probably buy a shit, which should become a disaster on you.

Is the below pic an artwork?