These days NFT, which is active on the blockchain platform like other cryptocurrencies, is one of the most popular and discussed concepts in the cryptocurrency world. NFTs are non-exchangeable and exclusive type of cryptocurrencies, which can be used in different fields due to their uniqueness. Table of Contents • What is an NFT? • Main features of NFT • Where to buy NFTs • How to Buy NFTs • What Is the Value of an NFT? • The Bottom line What is an NFT? Non-fungible tokens are referred to as NFT. As digital certificates for digital assets, these tokens are distributed. These tokens are often coded using the same underlying software as the majority of cryptocurrencies, and they are generally purchased and sold online using cryptocurrencies. NFT is a fully open-source smart contract that is created using free and open-source tools. This agreement is used electronically for increased security. Jpegs, gifs, videos, or tweets are the most significant NFT formats. Any digital asset’s owner has the option to request that it be transformed into NFT. Similar to Ethereum or Bitcoin, the acronym NFT clearly defines that due to its distinctive qualities, it cannot be altered or substituted. Both fiat money and cryptocurrencies can be traded or exchanged for one another because they are both fungible. The Merge, a work of art by the artist Pak, sold for $91.8 million last year. “The Merge” isn’t a painting or a sculpture, but it is currently the most expensive work of art ever sold by a living creator. It is an ineligible token (NFT). An NFT is a type of digital asset that may stand in for real-world items like art or even real estate. These digital assets are often purchased and traded online using cryptocurrencies, and the ownership data is protected and kept on a blockchain, a type of distributed ledger. Many investors ask whether NFTs are a smart investment as the values of sports and art NFTs climb into the millions of dollars. Let’s examine the purchasing process for an NFT in more detail. “Quantum,” a video clip termed a commercialized visual, was the first NFT ever discovered. It eventually sold for $4 when it was initially formed in May 2014. Since then, the market for NFTs has expanded to $1.8 billion, according to information from CoinMarketCap. But precisely what is an NFT? The key concept to grasp is perhaps how an NFT differs from a fungible token. Consider two different one-dollar bills; they are identical. We still have the same amount of money if I take your dollar bill and give it to you. Therefore, a $1 bill qualifies as a fungible asset. On the other hand, it wouldn’t be the same if you traded in a Pablo Picasso portrait for one that a three-year-old had drawn. That is the basic notion of NFTs. According to MeravOzair, a blockchain expert and fintech professor at Rutgers Business School, “The concept of fungible vs non-fungible has been in our lives for generations.” A fungible object is one that may be substituted for or is similar to another object, according to Ozair. On a blockchain, a bitcoin is a fungible token, thus it makes no difference which one you own. On the other hand, an NFT is a special blockchain token that cannot be exchanged for any other token on that blockchain or any other blockchain. Main features of NFT Some of the most important features of NFT are: • Irreplaceability This feature is the main feature of NFTs. These tokens cannot be exchanged with a similar asset and are completely considered unique assets.   • Being rare The developers of these tokens have the ability to produce them in high numbers, but the preference of these people is to produce limited and rare NFTs and to keep these tokens unique.   • Indivisibility NFTs cannot be divided into smaller parts and are practically not divisible, unlike cryptocurrencies. NFTs always remain integrated.   • To be unique These tokens own registered and unchangeable information, and the information is considered the NFT’s certificate of authenticity.   • Advantages of NFT Some of the most important advantages of these tokens are:   • They are transferable These tokens can be bought and sold in specific markets and not in digital currency exchanges. The price of an NFT is calculated based on its uniqueness.   • They are valid As you know, there is no possibility of forgery in the blockchain space. Irreplaceable tokens are also active on this platform; Therefore, you can be sure of their authenticity.   • The right of ownership is reserved in them Once the information is recorded in the blockchain blocks, it cannot be changed or deleted. Therefore, due to the fact that NFT data is recorded on blockchains, it is not possible to change their initial data under any circumstances, and the rights of the original owner of the work are always reserved.     Where to buy NFTs An NFT’s initial purchase is known as minting. The NFT is not created during minting; rather, minting turns on a smart contract that has already been written and positions the NFT in a precise location on the blockchain network. An NFT is a specific type of non-fungible cryptocurrency in this sense. All of the characteristics of other blockchain technology are present in NFTs. According to Ozair, a specific NFT is immutable on the blockchain and everyone can view its transactions. Although you could theoretically create your own blockchain for producing and minting NFTs, most users opt to mint their NFTs on an NFT marketplace. For NFTs, there are two different types of markets: centralized and decentralized.   NFT Markets that are centralized A centralized marketplace will impose limitations on what you may accomplish, which is the primary difference between it and a decentralized one. Anthony Georgiades, the co-founder of layer one blockchain Pastel Network, claims that when a marketplace is centralized, “you’re not necessarily responsible as the consumer to guarantee