NFT stands for NON -Fungible token . The basic real use case of NFT is for Digital Art where we can merge this token with digital art and use that image for trade. There are many platefarm where we can trade NFT are :- Binance Nft Market Palace, Openocean.io, Rarable, mogul productions, and many more.
As per economics, a fungible asset is something with units that can be readily interchanged – like money.
With money, you can swap a £10 note for two £5 notes and it will have the same value.
However, if something is non-fungible that means “this is impossible “- it means it has unique properties so it can’t be interchanged with something else.
The Basic use case and also which is in trending right now is sale out your digital art in the form of NFT . after minting it with NFT token which can easily sold on some websites like Binance NFt Market Palace, opeanocen.io ,Rarable, mogul production etc.
SOME NFT WHICH SOLD ON HIGH VALUES
Doge – 1696.9 ETH ($4,000,000)
For newcomers and those not familiar with the ever-evolving crypto industry, the concept of an NFT often seems like a strange one, and the fact that buyers are allegedly paying as much as four million dollars for a meme doesn’t help the situation. There are plenty of things most don’t know about Cryptocurrency, but, given how prevalent they are becoming, it may be worth learning the ins and outs of crypto.
Sold in early June 2021 and reported on by NBCNews, auction winner pleaserdao placed a bid of 1,696.9 ETH, which is an incredible amount of cryptocurrency to spend on anything, let alone a picture of one of the internet’s most well-known memes.
The digital artist Mike Winkelmann A.K.A. Beeple has created several dystopian art pieces mocking American presidential candidates like Donald Trump, Hillary Clinton, and Bernie Sanders, though his Crossroads piece is perhaps his most well-known.
Crossroads features a giant baby that seems to resemble Trump as his body is graffitied with remarks like “Loser.” A blue-colored bird, symbolizing Twitter, perches upon the figure’s shoulder as a clown emoji fills the speech bubble above it. Depicting the outcome of the 2020 Presidential election, Crossroads was sold recently via Nifty Gateway.
CryptoPunk #7804 – 4,200 ETH ($7,570,000)
CryptoPunk #7804’s rarity comes from the fact that it is one of the only 9 Alien CryptoPunks by Larva Labs. Apart from the usual CryptoPunks, the rare ones include Aliens, Apes, and Zombies.
he Alien sports three accessories: a pair of small shades, a smoking pipe with a few clouds of smoke rising out of it, and a front-facing cap. The sale took place around the same time as CryptoPunk #3100 that overtook #7804’s sale by $10,000.
The Best NFT Use case In our View
- The NFT Is can easily use for creating Website Domain, and as already we can see now through https://unstoppabledomains.com we can buy NFT Domain with no Renewal fee Once we buy the NFT domain these NFT domains whose TLD are (.x), (.ZIL), (.Crypto), (.coin), (.Wallet), (.Bitcoin), (.888), (.NFT), (.Dao), (.Blockchain) these Extensions are known as TLD Just like (.COM), (.NET), (.In), (.ORG) Etc. But the Beauty of the NFT domain is that once you own it it completely gives you complete ownership and huge Usage Flexibility and scalability as we write above that NFT domain can be used as a Wallet address, for Commercial websites, for Investment purposes, and many more and no need to renew it, again and again, this whole System is a part of Web 3.0 if you want to Know more about WEB 3.0 Click on this link https://cryptobirb.org/what-is-web-3-0/
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