By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
  • HOME
  • NEWS
    • LATEST NFT NEWS
    • BITCOIN NEWS
    • ETHEREUM NEWS
    • BLOCKCHAIN NEWS
    • ALTCOINS NEWS
  • NFT Collection
    • RARITY TOOL BY NFTStudio24
    • UP Coming NFT
    • NFT EXPLORE
  • NFT STORIES
  • PRESS RELEASE
Search
  • About us
  • Advertise with us
  • Contact us
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Non-fungible tokens or NFTs: What are they, where to buy and should you spend money on them this Dhanteras
Share
Sign In
0

No products in the cart.

Notification Show More
Latest News
EXIT partners with NFT TiX to release first NFT tickets in the world
EXIT partners with NFT-TiX to release first NFT festival tickets in the world
June 30, 2022
PrimeXBT award winning crypto
PrimeXBT Review 2022: The award-winning crypto trading app
June 27, 2022
TradFi - Mastercard wants to offer crypto functions directly to 82% of Latino consumers
MasterCard Credit Card will offer crypto functions directly to 82 percent of Latino consumers through TradeFi
June 27, 2022
How Seeds of Happiness is promoting positivity with NFTs
How Seeds of Happiness is promoting positivity with NFTs
June 26, 2022
BAYC co founder Gordon Goner
Bored Ape founders address the Nazi allegations
June 26, 2022
Aa
NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
Aa
Search
  • HOME
  • NEWS
    • LATEST NFT NEWS
    • BITCOIN NEWS
    • ETHEREUM NEWS
    • BLOCKCHAIN NEWS
    • ALTCOINS NEWS
  • NFT Collection
    • RARITY TOOL BY NFTStudio24
    • UP Coming NFT
    • NFT EXPLORE
  • NFT STORIES
  • PRESS RELEASE
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Contact us
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
HOME > Crypto and NFT NEWS > LATEST NFT NEWS > Non-fungible tokens or NFTs: What are they, where to buy and should you spend money on them this Dhanteras
Crypto and NFT NEWSLATEST NFT NEWS

Non-fungible tokens or NFTs: What are they, where to buy and should you spend money on them this Dhanteras

NFT Studio 24
NFT Studio 24 November 2, 2021 108 Views 4 Min Read
Updated 2022/02/08 at 5:03 PM
Share
4 Min Read
Non-fungible tokens (NFTs),
SHARE

Non-fungible tokens or NFTs are undoubtedly one of the hottest crypto assets in the market. With celebrities including Amitabh Bachhan, Vishal Malhotra, Sunny Leone and others launching their own NFTs, these digital assets are slowly making their ground in the Indian market. While the crypto craze has already taken over the minds of millennials and GenZs in the country, the NFT market is relatively small. Somewhere in the news, you must have seen these tokens selling for ridiculous amounts of money. So should you be buying NFT this Dhanteras instead of gold? This explainer below might help you out.

What is an NFT

In simple words, an NFT is a one-of-a-kind digital collectible. This means it is unique and can’t be replaced. These virtual tokens can be songs, movies, artworks, photographs, social media posts, GIFs and anything else that can be stored digitally. Now you may be thinking how these tokens are unique? Well, that is where the non-fungible part comes in. Yes, anyone can copy what is there in the NFT but any imitation of the token will miss out on the unique properties. For example, there are millions of copies of Leonardo da Vinci’s famous artwork of Mona Lisa that look exactly the same but the original valuable painting is still at the Louvre Museum in Paris.

How does NFT work

An NFT is data stored on a digital ledger, called blockchain. Most of the NFTs are a part of Ethereum blockchain. Ethereum is a cryptocurrency just like Bitcoin and its blockchain supports and stores the units of data of these digital assets. While other cryptocurrencies have their own version of NFTs, Ethereum is currently the market leader. The blockchain certifies the token as a unique asset and any reproduction of that token is considered as an imitation.
Last week, an NFT artwork called the CryptoPunk was sold for around $532 million. The buyer paid 1,24,457 Ethereum for it.

Should you buy an NFT this Dhanteras

The answer is not that simple. You can buy a bunch of NFTs for as low as less than Rs 10 or can even buy one of those tokens for lakhs of rupees.
NFTs are usually treated as artworks so determining the right valuation of them is quite difficult. You can buy an NFT if it suits your taste or you find it appealing. For investments, you should keep a track of how certain tokens are performing in terms of value and how much they’ll be worth in the future.

How to buy NFT in India

Currently, there is no separate legal framework for NFTs in India and you can easily buy one from platforms such as BuyUCoin, Binance, WazirX and many others. You can pay either through the platform’s wallet or you can pay via cryptocurrency.

Read More:https://timesofindia.indiatimes.com/

- SUBMIT YOUR PRESS RELEASE -
Ad imageAd image

Don’t miss the Important NFT Drops

Are you tired of missing important NFT drops?

  • Just check out our NFT Collection page! Click here
  • For Upcoming NFTs projects, Click here

You Might Also Like

PrimeXBT Review 2022: The award-winning crypto trading app

MasterCard Credit Card will offer crypto functions directly to 82 percent of Latino consumers through TradeFi

How Seeds of Happiness is promoting positivity with NFTs

Bored Ape founders address the Nazi allegations

Cryptoys is building a metaverse of NFTs for kids

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
NFT Studio 24 November 2, 2021
Share this Article
Facebook TwitterEmail Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Bitcoin Is Worth Zero 1 Bitcoin Is Worth Zero’ — Kenyan Communication Strategist Warns African Investors to Be Wary
Next Article Blockchain Avalanche Foundation Unveils its $200M Ecosystem Fund

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

EXIT partners with NFT TiX to release first NFT tickets in the world
EXIT partners with NFT-TiX to release first NFT festival tickets in the world
PRESS RELEASE June 30, 2022
PrimeXBT award winning crypto
PrimeXBT Review 2022: The award-winning crypto trading app
Crypto and NFT NEWS June 27, 2022
TradFi - Mastercard wants to offer crypto functions directly to 82% of Latino consumers
MasterCard Credit Card will offer crypto functions directly to 82 percent of Latino consumers through TradeFi
Crypto and NFT NEWS June 27, 2022
- Career -
Ad imageAd image

You Might also Like

PrimeXBT award winning crypto
Crypto and NFT NEWS

PrimeXBT Review 2022: The award-winning crypto trading app

June 27, 2022
TradFi - Mastercard wants to offer crypto functions directly to 82% of Latino consumers
Crypto and NFT NEWS

MasterCard Credit Card will offer crypto functions directly to 82 percent of Latino consumers through TradeFi

June 27, 2022
How Seeds of Happiness is promoting positivity with NFTs
Crypto and NFT NEWSLATEST NFT NEWS

How Seeds of Happiness is promoting positivity with NFTs

June 26, 2022
BAYC co founder Gordon Goner
Crypto and NFT NEWSLATEST NFT NEWS

Bored Ape founders address the Nazi allegations

June 26, 2022
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

Recent Posts

  • EXIT partners with NFT-TiX to release first NFT festival tickets in the world
  • PrimeXBT Review 2022: The award-winning crypto trading app
  • MasterCard Credit Card will offer crypto functions directly to 82 percent of Latino consumers through TradeFi
  • How Seeds of Happiness is promoting positivity with NFTs
  • Bored Ape founders address the Nazi allegations

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance

Quick Link

  • ABOUT US
  • CAREER
  • CONTACT US
//

Subscribe to our newsletter to get our newest articles instantly!

NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

  • bitcoinBitcoin(BTC)$19,085.21-5.11%
  • ethereumEthereum(ETH)$1,020.62-9.68%
  • tetherTether(USDT)$1.000.23%
  • usd-coinUSD Coin(USDC)$1.000.02%
  • binancecoinBNB(BNB)$207.85-5.46%
  • Binance USDBinance USD(BUSD)$1.000.12%
  • rippleXRP(XRP)$0.309045-6.52%
  • cardanoCardano(ADA)$0.440647-6.73%
  • SolanaSolana(SOL)$31.50-10.64%
  • dogecoinDogecoin(DOGE)$0.062954-4.09%
  • polkadotPolkadot(DOT)$6.72-6.92%
  • daiDai(DAI)$1.000.04%
  • tronTRON(TRX)$0.063638-3.42%
  • Shiba InuShiba Inu(SHIB)$0.000010-1.31%
  • leo-tokenLEO Token(LEO)$5.943.21%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$19,080.72-4.93%
  • AvalancheAvalanche(AVAX)$16.07-10.87%
  • Lido Staked EtherLido Staked Ether(STETH)$982.46-9.45%
  • litecoinLitecoin(LTC)$50.58-3.53%
  • matic-networkPolygon(MATIC)$0.434727-17.95%
  • FTXFTX(FTT)$23.46-7.66%
  • OKBOKB(OKB)$11.71-1.67%
  • CronosCronos(CRO)$0.110425-6.16%
  • chainlinkChainlink(LINK)$5.95-6.71%
  • stellarStellar(XLM)$0.103763-6.96%
  • NEAR ProtocolNEAR Protocol(NEAR)$3.17-7.97%
  • UniswapUniswap(UNI)$4.75-3.48%
  • cosmosCosmos Hub(ATOM)$7.00-2.37%
  • algorandAlgorand(ALGO)$0.286856-6.56%
  • moneroMonero(XMR)$108.68-9.20%
  • ethereum-classicEthereum Classic(ETC)$14.34-6.11%
  • bitcoin-cashBitcoin Cash(BCH)$99.25-4.31%
  • Theta FuelTheta Fuel(TFUEL)$0.045056-9.31%
  • ChainChain(XCN)$0.0876390.81%
  • vechainVeChain(VET)$0.021536-6.13%
  • FlowFlow(FLOW)$1.42-12.02%
  • FraxFrax(FRAX)$1.000.06%
  • HederaHedera(HBAR)$0.060555-7.76%
  • ApeCoinApeCoin(APE)$4.24-11.89%
  • Internet ComputerInternet Computer(ICP)$5.08-6.68%
  • tezosTezos(XTZ)$1.37-8.29%
  • The SandboxThe Sandbox(SAND)$0.97-7.67%
  • decentralandDecentraland(MANA)$0.81-8.35%
  • true-usdTrueUSD(TUSD)$1.00-0.12%
  • filecoinFilecoin(FIL)$5.13-6.52%
  • theta-tokenTheta Network(THETA)$1.12-10.55%
  • Axie InfinityAxie Infinity(AXS)$13.30-11.22%
  • ElrondElrond(EGLD)$46.79-8.37%
  • bitcoin-cash-svBitcoin SV(BSV)$53.02-6.58%
  • kucoin-sharesKuCoin(KCS)$9.64-4.06%
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?