Non-fungible tokens are a growing industry. Here is how they work.

Davit Arakelian, Staff Writer

NFT cryptos are non-fungible tokens that are virtual items created on a blockchain. An NFT can consist of art, sports cards, gaming, music, and many more. Anyone can make an NFT and post it on the public market for their chosen bid price. The price of an NFT is weighed by Ethereum, since non-fungible tokens are created on the blockchain.

When someone makes a purchase for an NFT, they gain all the rights for that token. Many people also purchase NFT cryptos in order to have a unique connection to the creator of the specific NFT. Mostly NFT cryptos are digital artwork, and this makes it very profitable, because the world is coming to a change and everything is slowly going digital. 

This is great because physical artwork that has been being sold all over the world is a great market for investment, and making it digital will produce even more sales and opportunities. People nowadays find it more interesting to build digital artwork through a computer than actually painting or drawing something.

NFT cryptos can be insanely profitable if made right. The first NFT ever made was done by CryptoPunks which is art with a portrait of a unique person. The cheapest CryptoPunk NFT is worth around $30,000 in Ethereum, while the most expensive one could be worth up to $10 million, which is crazy! The first NFT made by CryptoPunk was made in 2017 and now it is worth millions. 

Non-fungible tokens are more than worth it if you know what they represent, and there are many indications that can show you if they are a good investment or not. The NFT marketplace is at and this is where most sales happen. 

Anyone can create an NFT, and it can possibly even just be a simple art project that no one seems to care about. But eventually someone may care about it when it comes to being an NFT, because they have so much potential. If you are interested in learning more about NFTs, I suggest you do your research about how these tokens are sold, created, and kept.