What's an NFT?

NFT stands for non-fungible token. (Non-fungible means it cannot be replicated). NFTs can represent real-world items like artwork, trading cards, photography, music, and even real estate.

You retain exclusive rights to any NFT that you own. (Whether you created it, or bought it from someone else). Once you own it, you can use it in any way you see fit. For example, I would love to create some wine labels with a few NFTs that I own. Because NFTs exist on a cryptographic blockchain, “tokenizing" real-world assets significantly reduces the probability of fraud. Think proof-of-ownership.

You can create, and/or collect (and sell) several types of NFTs on marketplace websites like Opensea (.io), Rarible (.com), or Crypto (.com) just to name a few. In fact, I create NFTs and mint them directly from all three of those sites. You can check out some of my creations here.

Did you know that as an original NFT creator, you continue to profit from your NFT creations even after you sell them to someone else? (It's easy. You just need to set up a percentage rate for future sales upon minting your NFT at your marketplace).

Your set rate earns you royalties, and is applicable for every additional sale of the same NFT, (at whatever selling price the new owner sets). It doesn't matter how many times the NFT is sold, you earn royalties every single time.

I promised to keep this blog short but if you want to learn more about NFTs check out The NFT Handbook for Beginners.

Or if you'd rather check out the Crypto Wealth Academy their courses teach you how to buy, sell, or trade crypto as well as create and sell your own NFTs.

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