Non-Fungible Token Assets or NFTs were popular in early 2022. Currently, NFTs have become a new area to earn income from digital transactions in them. Everyone can trade their work and make big profits.
Launching from the Independent, NFT is part of blockchain technology. In short, a digital data storage system (in the form of a deed or token) that allows users to lower it confidentially. The scheme used is the encryption scheme in cryptography.
Through this scheme, the information data before being transferred will be converted first into a secret code. That way, the existence of the data cannot be duplicated and stolen by other users who do not have the data. The data can only be owned by one owner in a certain period.
There is a lot of data in the blockchain. According to The Verge, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, that is capable of storing additional information and changing the way it works.
One of the forms of data stored on the blockchain is an NFT digital certificate. This certificate is then embedded in images, music, photos, videos, and other digital works of art. By using blockchain, NFT owners can get verification of “ownership” of a work because it has been recorded in the database.
That way, it can be said simply that NFT is like a copyright certificate that can guarantee the authenticity of an artwork owned by its user. In this case, the NFT certificate is in digital form.
The NFT marketplace has spread across several platforms, including OpenSea, Enevti, Paras.id, TokoMail, Artsky, and Baliola. To be able to create an NFT account, users are required to perform new blocks, validate information, and record in the blockchain.
After that, you will get a certificate of authenticity for digital assets indicated by the public key belonging to the content creator. The public key belongs to this creator which then contributes to the market value of the asset. The market will calculate the cost of the blockchain network, and the maker will get royalties from buying and selling transactions.