Large and popular crypto platforms propose a variety of crypto assets: tokens, coins, NFTs, etc. NFTs are incredibly popular lately, so we would like to discuss this topic in this article.
What does NFT mean? This abbreviation stands for non-fungible tokens. Each of them is unique, with no analogues. That’s the main thing that differentiates NFTs from standard tokens.
Among the most popular NFT collections, the CryptoPunks collection stands out, with a trading volume of over $1 billion. In the second half of 2022, the trade volume of the NFT industry reached $8 billion.
Today non-fungible tokens are not just funny images – they serve as a tool for verification and digital proof of ownership.
Where to Purchase NFTs and Why?
The market offers large NFT marketplaces where you can buy cryptocurrency. Or there is another option to buy NFT on a crypto trading platform. For example, WhiteBIT and Binance exchanges offer marketplaces with NFTs. We recommend using these big crypto exchanges because they function legally and comply with all the requirements in the crypto field. Besides, they provide safety for clients and transactions.
The reasons why people buy NFTs:
- Big brands promote NFTs, making hype around this industry.
- Famous people launch their own NFTs, linking them to some valuable items (tennis rocket of a famous tennis player, a famous singer’s dress, etc.).
- NFT industry is expanding.
- There are many artists with millions of followers on social networks also promoting NFTs.
- Artists can encrypt their artworks in NFTs and tokenize them.
For more information about NFT, go to the White Blog. The blog was launched by the founders of the WhiteBIT cryptocurrency exchange to help people understand how this market works. On White Blog, you will find information and reviews on some new NFT collections and recommendations on buying NFTs on the crypto exchange.