What’s NFT?


Eliot Audy-Dubois


NFTs, also known as non-fungible tokens, are a much-coveted new virtual currency in jpeg, png or mp4 form that is growing in value day by day.


First, what is a non-fungible token? For example, whether you buy the very first bitcoin, dogecoin, or any other virtual currency in the world or you buy the last one of all, its value will remain the same. These are called Fungible Tokens.


The non-fungibles ones are the complete opposite. Each NFT has its own value and all nft are unique and are sold separately in a single copy. Sellers usually release several collections at different times. This is where it gets interesting, the rarity that some NFTs can take.


Non-fungible tokens aren’t simple virtual money. They can be sold in several forms. Most sellers express their art through NFTs. From pixel art to bored ape drawing and much more, there is something for everyone.


This new currency does not only allow you to make profits, it allows in particular to participate in private events for people who have the required NFT. That’s why some celebrities bought one.


To buy one, buyers go to an NFT marketplace such as OpenSea or NiftyGateway and must pay in Ethereum (another virtual currency).


Sometimes, auctions are organized and the prices can go up extremely quickly. the most expensive Nft ever sold was # 9998 of the NFT Series “CryptoPunk”  for a price of 124.457 Ethereum which is $530 million.


In conclusion, according to Alex Beecroft, general manager of Collins Dictionary, an abbreviation that receives so much attention is not common.


“Whether NFTs will have a lasting influence remains to be seen, but their sudden presence in conversations around the world undeniably makes NFT the word of the year”, he added in an interview with the BBC.