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Iryna Lukashuk Digital Marketing Specialist Iryna is a digital marketing and social media specialist. She is fond of creating content for app marketers and developers to help them succeed in the app business world. NFT is becoming more and more popular around the world. So, let us uncover what this mystery term means and how you can start creating NFT today by using your mobile phone.

In other words, NFTs are digital assets that are publicly verifiable intellectual properties. For example, NFT could be a digital file such as a photo, image, 3D-visual model, video, audio, collection card, or game skin. To understand the whole concept of NFT, you need to know a couple of related terms: Non-Fungible Token means that digital assets are not interchangeable, and it represents unique assets owned by a specific person. In comparison, Fungible Tokens are interchangeable and can be divided into smaller units to form the same value.

In contrast, the Mona Lisa painting is non-fungible as it is a unique piece. All other copies of Mona Lisa paintings don't have the same value as they are not authentic as the original piece. Differentiation between fungible and non-fungible. Token refers to a digital certificate stored on a secure distributed database blockchain. It means that each token contains distinguishable information, such as who is the digital asset owner and who the seller is.

Moreover, the token's historical data can't be deleted or changed, making your NFT originality secure. It will secure your painting's originality. Source: Human One Blockchain is a distributed database shared among the nodes of a computer network. Since blockchain is decentralized, it runs on contestants of nds of computers simultaneously and is constantly updated and verified.

It means that the network immediately notices if there are any errors in a block. The new blocks are frequently being added and encrypted, so you can't go back and change anything in previous blocks. That's why blockchain is considered to be a secure database. Moreover, blockchain is also public and permissionless, which means everybody can access it. Blockchain explanation So, now that you know all the necessary terminology, let's sum up the main principles of NFTs: NFTs Non-Fungible Tokens are digital assets running on a blockchain.

NFTs are not interchangeable, and each of them represents a unique asset owned by a specific person. Each NFT contains distinguishable information who owns it and who sold it , making digital assets easily verifiable. As a result, you always know which piece of art is original on the blockchain. How does NFT work and how you can benefit from it?

NFT works like any other unique physic good: the artist creates a piece of art, then finds a gallery to showcase it, and after that, a collector will see it and buy it. The same applies to the digital world, but with a more secure transaction. In other words, the main selling point of NFT is that a digital asset is unique and can't be forged. To understand how you can benefit from NFT, you need to define yourself to a specific target group: Seller artist, art studio Buyer collector, gamer Marketplace As a seller, you first need to create a digital asset and then find an NFT marketplace where you can sell it.

As an artist who puts their art in the NFT marketplace, you can set the fixed percentage of sales. As a buyer, you are looking for a unique piece of art on different NFT marketplaces. Once you find it, you buy it and your name will be encrypted into this digital piece of art forever. Besides the satisfaction of owning a unique piece of art, you can also resell it at a higher price and, as a result, make a profit.

Messari is a highly-popular crypto research platform that features charts, a dashboard with assets and their performance, and much more. The platform features a large online database with detailed information about the entire crypto market. A glimpse at what Messari offers. My favorite thing about the interface is the tab with a live news feed.

It aggregates articles from several reputable news platforms. I use this section almost every day to keep track of news events and drama. With a free account, you can get everything you need as a beginner. A premium account allows me to receive live notifications about a protocol in real time. I receive these notifications on my email and phone — making a vast difference for my ability to act promptly.

Custom reports, long-form research, and daily insights are another great benefit. Gaining access to these reports allows you to gain an edge over the market. Glassnode Glassnode is another great crypto tool that I love using for on-chain analysis. The platform gathers data from various blockchain networks and tracks their activity. The platform became popular in when investors took notice of large Bitcoin transfers. The data from Glassnode helped the community realize that institutional investors are here and that they are finally taking crypto seriously.

Glassnode features various reports: active addresses, addresses with or more than a certain balance, exchange outflows and inflows, supply distribution, and new address growth. It does so by analyzing blockchain data and converting it into a chart which you can easily read. A chart showing the number of active addresses on the Bitcoin Network Problem is, most of the really good features are only available in the professional subscription.

I do not believe that on-chain data should be the deciding factor when trading or investing. What I do believe though is that it can complement your other activities such as technical or fundamental analysis. However, none of us use TW to execute trades. For trade executions, we rely on Cryptowatch. When Cryptowatch first launched its beta version, everyone scoured Twitter and Discord communities to find invite codes.

Because the trading platform seemed more than promising — and boy did it deliver.

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