We Love NFTs
Non-fungible tokens (NFTs) are digital assets managed by blockchain that can be owned, bought, sold, and traded. They are similar to Bitcoin in the sense that they prove ownership of a digital item, but they differ because they are completely unique.
Laminale Marketing & Innovations
is currently exploring NFT creation. Check back for updates.
What is NFT
NFT stands for non-fungible token, which a unique digital asset managed on blockchain that you are able to buy, sell, trade and own. When a commodity is non-fungible, it means it’s not mutually interchangeable. As NFT stands for non-fungible token, and it is a unique digital asset managed on Blockchain that you can buy, sell, trade and own. When a commodity is non-fungible, it means it’s not mutually interchangeable. Crypto coins are all identical and worth the same, but the value of an NFT is more speculative. For example, on March 11, 2021, a collage composed of 5,000 digital pieces was auctioned for $69 million. Mike Winkelman (AKA Beeple), the artist behind this remarkable digital piece of art, began the bid for his NFT at $100. However, due to the token’s non-fungible nature, its value proposition could not be easily described. Since people were willing to pay $69 million for it, it sold for $69 million. This is what gives NFTs their appeal. They are a completely unique piece of data, and people are willing to spend a lot for them. Similarly, since NFTs exist on a blockchain, they allow for peer-to-peer (P2P) transactions– a major upside for creators looking to sell their digital wares directly to their fans and cut out the middleman.
- An NFT is a digital file with a unique identity.
- An NFT is built on a blockchain using specific token standards, most commonly Ethereum ERC-721.
- Creating an NFT requires uploading your digital file to an NFT marketplace.
- Blockchain allows you to verify the authenticity of an NFT, which is a large part of its appeal.
LAMINALE Top NFT Marketplaces
Most NFT platforms require buyers to have a digital wallet and use cryptocurrencies to pay for their purchases.
LAMINALE NFT's Overview
Here is a selection of different NFT markets