✅ nft explained part-2 | nft example
👉 check part-1 :-
1. Minting :- Minting refers to the process of creating or generating a new Non-Fungible Token
(NFT). It involves uploading or registering a unique digital asset on a blockchain platform,
such as Ethereum, and assigning it a distinct token ID.
2. Utility :-
NFTs now can have some utility or application. It’s not only about holding the asset but the
possibility of using it too. Like gamified NFTs for fantasy sports, access NFTs for exclusive
content or experiences, or engagement NFTs for fan communities.
3. Blue chip :-
Stable, strong, and well-recognized projects. An example of what we can consider a blue
chip can be CryptoPunks by Larva Labs. This is one of the most relevant and earliest NFT
projects with prices ranging from 80 to 159 ETH.
4. Airdrop :-
Sending coins or tokens to specific wallets, sometimes for free. Projects airdrop NFTs to
existing holders to build a stronger community and add more value and utility to the existing
NFTs. For example: You’ll only receive an airdrop as long as you hold an asset.
5. Rarity :-
One of the critical factors to determine the value of an NFT. Each NFT has unique and
different properties or traits. Rarity helps rank how successful or attractive an NFT can be.
These properties have different scores, that help calculate the final rarity ranking. Just like
most things in life. And when an NFT is rare, its value increases. You can use different tools
to check the rarity of an NFT, like Rarity.tools or Rarity Sniper.
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