NFT News

NFT is an acronym for a “non-fungible token” minted on a public blockchain.

A non-fungible token is a digital item or asset that cannot be replaced with another while maintaining its intrinsic value. Each NFT in existence is unique. Therefore, although two NFTs may have similar characteristics, each has a unique feature that distinguishes it from another as viewed from the deploying blockchain. For example, there are numerous Bored Ape Yacht Club (BAYC) NFTs. However, each digital representation has differentiating characteristics or features that give it value in the primary and secondary markets.

What is the Difference between an NFT and Cryptocurrency?

Cryptocurrencies are digital currencies that run on blockchain technology and are similar to NFTs. However, one primary difference is that a cryptocurrency like BTC or ETH is fungible. This means it can be exchanged for another. Meanwhile, an NFT is unique and cannot be swapped for another.

How Does an NFT Work?

NFTs are created and distributed on the blockchain. The process of creating NFTs is known as minting. Pictures, videos, GIFS, Music, and tweets can be minted as NFTs. The most popular network used for creating and distributing non-fungible tokens is Ethereum. Competing smart contracting platforms like Solana and Waves also support NFTs. Some NFTs have unique features that can make exponentially gain value. Others have utility, finding use in games and more. Depending on the owner, Minted NFTs can be stored in a crypto wallet and listed on an NFT marketplace.

Types of NFTs

Files, including music videos, JPEGs, audios, and more, fit perfectly as non-fungible tokens because of the need to verify ownership, of which the distributed ledger provides automatic provenance. In-game utility items are other popular kinds of NFTs. These can be won or bought in interactive games like Axie Infinity, Alien Worlds, and others. Virtual lands are other NFTs popularized by flagship projects Decentraland and Sandbox on Ethereum. Many virtual land investors project an appreciation in the value of digital real estate in the coming years. At the same time, domain names can be converted into NFTs. However, many browsers do not support these NFTs since their naming system is poorly developed.

Uses of NFTs

NFTs are not just digital items on the blockchain. They can be used to record transactions in the commercial world. Since the blockchain is immutable, records of transactions in real estate, medicine, and academics can be preserved permanently in the form of NFTs. Additionally, NFTs can be used in the world of finance. Some platforms accept NFTs as collateral to obtain loans. The loans are given out as cryptocurrencies and can be converted to fiat.

Where to Buy NFTs

Popular NFT marketplaces are OpenSea, Rarible, Solanart, and Nifty Gateway. A significant consideration when buying NFTs in any marketplace is the minting fees. Ethereum-based NFTs tend to be pricer because of high Gas. Alternative layers like Solana, BNB Chain, and Waves offer comparatively lower mining fees because their networks are scalable. However, being the first and most active, Ethereum-based NFTs are relatively popular.

Hela Labs Partners Arcane Vault to Redefine Multi-Chain NFT Network
Hela Labs Partners Arcane Vault to Redefine Multi-Chain NFT Network

The partnership between Hela Labs and Arcane Vault aims to revolutionize the minting, discovery, and trade of non-fungible tokens on diverse blockchains.

By Umair
June 30, 2025
CryptoPunk and Azuki Lead Pack of Top NFT Sales in June 2025
CryptoPunk and Azuki Lead Pack of Top NFT Sales in June 2025

CryptoPunks are dominating the non-fungible token (NFT) sales in June 2025 as securing 9 of 10 top spots, while Azuki joins as the only non-CryptoPunk entry.

June 30, 2025
Pudgy Penguins Tops Trending List as deBridge and Bedrock Log Strong Weekly Gains
Pudgy Penguins Tops Trending List as deBridge and Bedrock Log Strong Weekly Gains

Pudgy Penguins leads trending cryptos as deBridge and Bedrock surge, with Quant, Livepeer, and Walrus showing mixed performance in weekly trading.

June 29, 2025
NFT Market Overview: OpenSea Dominates With 7.09k Sales as Azuki and Guild of Guardians Power NFT Market Momentum
NFT Market Overview: OpenSea Dominates With 7.09k Sales as Azuki and Guild of Guardians Power NFT Market Momentum

The NFT market registered another significant increase in the trading volume on June 26, 2025, with Courtyard leading the trend in the amount of daily sales.

June 27, 2025
How NFTs Are Making Their Way Into the Online Casino World
How NFTs Are Making Their Way Into the Online Casino World

Explore how NFTs are transforming online casinos through tradeable rewards, security, and unique loyalty programs, ushering in a new era of digital gambling.

June 26, 2025
How NFTs Combat Rampant Diploma Fraud and Track Educational Achievements
How NFTs Combat Rampant Diploma Fraud and Track Educational Achievements

NFTs fight diploma fraud by offering secure, verifiable blockchain-based credentials, making fake degrees obsolete and enhancing global education trust.

June 25, 2025
June NFT Market Boom: Courtyard Tops Sales, CryptoPunks Dominate High-Value Trades
June NFT Market Boom: Courtyard Tops Sales, CryptoPunks Dominate High-Value Trades

The NFT market is experiencing a fresh life as trading volume across leading collections is spiking. Courtyard is leading with 507.68K volume and 5,150 sales.

June 23, 2025
NFT Sales Drop to $116.94M, Courtyard, Guild of Heroes, Immutable & Polygon Outperform in Weekly Sales
NFT Sales Drop to $116.94M, Courtyard, Guild of Heroes, Immutable & Polygon Outperform in Weekly Sales

The data shows that the NFT market is evolving, as evidenced by emerging collections and alternative blockchains at the top of the sales list.

June 23, 2025
NFT Market Weekly Recap: Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket
NFT Market Weekly Recap: Guild of Guardians Leads Despite Dip as SuperRare and Panini Skyrocket

NFT collection, Guild of Guardians, remains the leader of the market in terms of the weekly volume of sales, collecting an impressive amount of $18.93 million.

June 19, 2025
New NFT Report Reveals the 10 Most Socially Active NFT Projects: MASK, ICP, and FET Dominate
New NFT Report Reveals the 10 Most Socially Active NFT Projects: MASK, ICP, and FET Dominate

The NFT space has undergone a dynamic shift in user interaction, as revealed in a recently released social activity report by the Phoenix Group.

June 18, 2025
NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales
NFTs Weekly Sales Surge 24% to $142M, Guild of Guardians & Immutable Dominate in Sales

This week, upcoming collections led significant growth in the NFT market, while alternative blockchains grabbed top positions amid market shifts.

June 16, 2025
My Neighbor Alice Taps Pudgy Penguins to Introduce ‘The Pudgy Land’ with NFT Integration
My Neighbor Alice Taps Pudgy Penguins to Introduce ‘The Pudgy Land’ with NFT Integration

Pudgy Penguins partners with My Neighbor Alice by unlocking NFT utility, new quests, and cross-chain gameplay by utilizing a new winter-themed update.

June 11, 2025