NFT among the top trending Google searches in 2021; here's all you need to know about it

Digital collectibles, also known as Non-Fungible Tokens (NFT), have remained in spotlight throughout year after Twitter founder Jack Dorsey's autographed "first tweet", following setting his Twitter account, was auctioned and sold at $2.9 million using Er cryptocurrency. A series of blockchain news on internet and influx of interest on NFTs have me tokenised digital art a significant form of asset and also secured its place among most popular searches in 2021, according to Google. However, if NFTs are worth hype or money is still a far question when many are struggling to wrap ir hes around concept. Here are some basics that might help to clear cloud:

What is NFT? Why are y expensive?

NFT stands for Non-Fungible tokens, which at this point are among internet classics. NFTs are tokens that one can use to represent ownership of unique items, beginning from tacos to toilet papers to just memes created on internet. Although, one can even tokenise things like paintings or real estate under it. "y can only have one official owner at a time and y're secured by Ereum blockchain – no one can modify record of ownership or copy/paste a new NFT into existence," explains Ereum.org. In simpler words, NFT is an economic term that one can use to describe ir belongings like furniture or files on computer, and y are expensive because se things are not interchangeable due to ir unique properties.

y can be differentiated from fungible items, on or hand, as fungible items can be exchanged as ir value defines m rar than any particular property. For instance: ETH (cryptocurrency) or dollars are fungible as 1ETH / $1 can be exchanged with things that are of same value. It is similar to a tring card.

How does NFT work?

NFT can literally be anything like drawing, music, artificial intelligence, and so on so forth created digitally. As Verge explains, most NFTs are part of Ereum blockchain, however, much different from bitcoin or dogecoins, which is a different story altoger. In short, NFT is supposed to be a collective item, only digital. When someone purchases an NFT, he/she owns exclusive ownership and only one owner can have right at a time. digital data makes it viable to determine who owns original right, rights can only be transferred through transfer tokens between buyers and sellers.

What were popular NFTs in 2021?

As per Google, most popular one remained Twitter founder's "first tweet," which was brought by a Malaysian buyer. second most popular one was 'Hasmarks'. It is a living art collectible put toger by over 70 artists worldwide and me up of 16,384 unique digital portraits, TRG Data Centers reported. It was sold with 100,000% profit over a period of three days, Digit.fyi reported. most expensive, however, was placed in fifth position in "most popular" list. piece, called 'Everydays: first 5000 Days', was created by Mike Winkelmann (Beeple). It was sold for $69 million in February. Here is complete top 10 list:

1.       first tweet, sold for $2.9 million

2.       Hashmasks, sold for $16 million

3.       Doge NFT, sold for $4 million

4.       Grimes NFT, sold for $6 million

5.       Everydays: First 5000 Days, sold for $69 million

6.       Rick and Morty NFT, sold for $1.6 million

7.       Crossros NFT, sold for $6.6 million

8.       CryptoPunks #7804, sold for $7.5 million

9.       Genesis estate NFT, sold for $1.5 million

10.   World Wide Web Source Code NFT, sold for $5.4 million

How to buy?

If one is keen to engage in NFT collection, n one needs to acquire some key items:

1. A digital wallet enable to store NFT and cryptocurrency.

2. One can buy NFT using crypto or credit on platforms like Coinbase, Kraken, eToro or PayPal.

3. Popular marketplace for NFT are OpenSea.io, Rarible, Foundation but must ensure to research carefully before buying.

(Image: Unsplash (representative)