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HOW TO DESIGN YOUR OWN NFT
NFTs (non-fungible tokens) are digitally native goods or items designed and maintained on a blockchain. A blockchain is a digital ledger that functions as a database for tracking and management (in this case, of NFTs). When someone wishes to make an NFT, they mint it on a blockchain, allowing everyone to see who made it and who owns it. Consider it a digital phone directory where anyone may enter their phone number and have it confirmed by the phone provider. The blockchain works similarly, except the blockchain network verifies the NFT instead of the phone provider.
An NFT, like a phone number in the phone book, can’t be copied or replicated after it’s been designed. It’s one-of-a-kind, and its ownership will be recorded on the blockchain at all times. You notify the phone company when your phone number changes and they update the database. The blockchain will update and notate the new owner if you transfer or sell your NFT. NFTs use blockchains because they are cryptographically safe. This makes them highly impossible to hack, modify, or update, ensuring that your NFT ownership is safe.
How much does it cost?
While designing NFTs on OpenSea is free, other platforms charge a fee called “gas” on Ethereum-based platforms. The quantity of Ether necessary to…
