When Forbes magazine, widely-recognised as the bastion of strategic investing, publishes an article touting Non-Fungible Tokens as a _must have_ and declaring them an asset class that is _here to stay_, as they did last summer, investment communities were officially being put on notice - it is time to start talking about NFTs. 

Let’s start with a simple description: Non-Fungible Tokens, or NFTs, are tokens guaranteeing ownership of a distinct and unique asset — usually a digital asset such as a piece of art, music, or even a video. NFTs are digital proof of ownership used to represent virtually any type of real or digital item. NFTs are _created_ and _managed_ on digital ledger technology systems referred to as blockchains with the Ethereum network being the most popular. 

If that isn’t helpful, we’ll put it this way: “Non-fungible” tells us that the asset is unique and _cannot_ be replaced with anything. For example, one bitcoin is fungible — you can trade one for another bitcoin, and you will have exactly the same thing. A one-of-a-kind trading card, on the other hand, _isn’t_ the same thing.  It is one of a kind.  It is…non-fungible.

The important thing to remember is that no two NFTs are the same.

Here’s how and where to buy them.

## Places to Buy Non-Fungible Tokens

In most cases, you will be required to set up and fund a crypto wallet with Ethereum (a popular cryptocurrency) as one of the first steps in buying NFTs on exchanges (or marketplaces). MetaMask is one of the most common for purchasing NFTs and also seems to be the easiest crypto wallet for newbies to set up.

The popularity of NFT investing is proliferating a variety of new trading platforms where you can buy, sell, and even create them. Based on our research, we believe the following three marketplaces are the most resourceful for those who are new to NFT investing. 

### OpenSea

Arguably the most popular choice, [OpenSea](https://opensea.io/) is the largest digital marketplace for NFTs offering millions to choose from in categories like art, music, and collectibles. Launched back in 2017, OpenSea continues to focus on offering consumers a trading experience that is quick, easy, and fun.  In fact, the marketplace recently launched an app for users in the Google Play and Apple App Store.

One of the key advantages of using OpenSea is the platform’s application of smart contracts to keep transactions legit. The advantage being that if either party _doesn’t_ fulfill their end of the deal, the transaction becomes void and neither party is out anything.

### Rarible

The [Rarible](https://rarible.com/) marketplace is an all-in-one platform that was launched in 2020 where creators, sellers, and buyers of NFTs can convene to trade and conduct their business. Quite simply, new investors interested in a creator centric NFT marketplace that allows for creating, selling, or collecting NFTs will find that Rarible is an appealing platform to use because of how it simplifies the process of trading without needing a middleman.

### Nifty Gateway

Launched in 2018, [Nifty Gateway](https://niftygateway.com/) is an NFT digital art marketplace that makes it easy for users to buy and sell NFTs as easily as one can buy products on eBay. Nifty Gateway offers NFTs from celebrities, popular digital artists, and major brands. It is a marketplace that distinguishes itself as a platform that continues to build a wide offering of desirable, high-value assets that have huge investment potential. 

One great thing about Nifty Gateway is that this platform allows you to buy and sell NFTs in US dollars, meaning that besides a crypto wallet you can also connect your account directly to your bank.

## Now What?

The opening up of NFTs as another class of investments creates a wide array of opportunities. Consider that it was only four years ago that the head of JP Morgan infamously called Bitcoin “worse than tulip bulbs” referring to the Tulip Mania bubble in the 1600s. Today, that same bank is looking at how cryptocurrencies may be an alternative to gold assets for hedging against inflation. 

NFTs are now in a similar place to where cryptocurrencies were a couple of years back – the opportunity has not yet been seized in the mainstream. None of us have a crystal ball, and you always want to be prudent in your research, but the bottom line is that millennials and Gen Z are living lives that are becoming increasingly more digital. Isn’t it only natural to want to take digital representations of luxury brands, music, and art into these worlds?  Now you can with NFTs.

We Need to Talk About Non-Fungible Tokens

What do a British music icon, a social media mega-platform and a European crown prince all have in common? The NFT market.

This week they have all confirmed they are joining the NFT juggernaut, further boosting the NFT market’s position.

As the cryptocurrency industry prepares for an autumn boom, as predicted by market analysts and industry commentators, it is widely expected that the NFT marketplace will see a further surge in interest and value.

As this week’s developments show, NFTs are a hot topic, attracting international media attention and massive price tags. However, to many they remain something of a mystery.

## What are NFTs?

Here we take a look at the fast-developing NFT market, explain some of the basics and discuss some of the high-profile entrants to NFTs announced this week.

For those of you who may not be aware, NFT stands for Non-Fungible Token which, in the simplest terms, means a unique digital certificate of authentication.

Consternation over the rapid growth of NFTs arises from the perception that people are paying astronomical sums for what are, essentially, pixel constructed pictures (to put it in very basic terms).

Well, the explanation is that NFTs are not just that.

In the ‘real’ world, you may have a physical certificate of ownership for an individual piece of art, proving you have ownership and which you would hand over with the artwork should you sell.

An NFT has a similar job, just in a different environment. An NFT is a digital token of ownership and authenticity for a digital artwork that lives in the digital sphere, making the NFT and the piece of digital art interchangeable.

## The NFT Marketplace

The NFT marketplace represents the frontier between the physical and digital worlds.

The amounts people are prepared to spend on NFTs demonstrates there are plenty who believe there is a high future value for digital art. That explains the rapid growth of the market, and the rush from celebrities, artists and international brands to get a slice of the action.

For example, veteran British DJ Paul Okenfold has announced plans to release his latest album as an NFT (digital download) on the Cardano blockchain. Every part of album Zombie Lobster is set to be tokenised, including cover art, individual tracks and sleeve notes. The move is part of a collaborative partnership with NFT specialist Starship Universe.

TikTok also joined the NFT club this week when it announced plans for a creator-led NFT collection, demonstrating the social media giant’s confidence in the burgeoning sector. TikTok Moments is a collection of videos from six of the platform’s most influential content creators and all proceeds from sales go directly to the stars and NFT designers.

## Non-Fungible Castle Conference

Even royalty are getting involved. This week the Crown Prince of the Czech Republic, William Rudolf Lobkowicz, launched his own collection of NFT works aiming to reflect historical pieces held at home.

The House of Lobkowicz traces its roots back to the 14th Century and has a reputation for retaining and preserving a wide range of works of art, from Beethoven to Canaletto. Visitors to the ‘Non-Fungible Castle Conference’ this month will be able undertake virtual tours and view some of the historical pieces alongside their digital representation.

Lobokowizc said: ‘By investing in an NFT, a patron receives ownership of a unique digital asset while directly supporting conservation efforts and other cultural activities.’

NFT Market – Time to Buy?

With the rapid growth of [NFTs](/news/category/nft-news), it was perhaps only a matter of time before more major players got involved.

It is now reported that Marvel intends to secure its place in the trending asset with more superhero collectables.

Following the success of Spider-Man NFTs in August, Marvel is said to be releasing Captain America NFT collectibles soon.

## 80th Anniversary

They will mark the 80th anniversary of Captain America, who first appeared in 1941, and allow fans to buy digital statues displaying him as he first appeared.

For the NFT rollout, Marvel partnered with VeVe and Orbis Blockchain Technologies, with the collectables minted and made available for users on VeVe’s marketplace.

## Batman Joins the Hype

Marvel isn’t alone in stepping up its NFT presence. DC Comics worked with VeVe to launch its own collectable, which included a black and white-themed collection of digital Batman statues.

The NFT market continues to see major growth. For example, the biggest NFT marketplace in the Ethereum blockchain,[ Opensea](https://opensea.io/), had transactions valued at $3.4 billion. Demand for collectables continues and shows no signs of slowing down.

["Captain America The Avengers movie art"](https://www.flickr.com/photos/59678507@N02/6976087666) by [marvelousRoland](https://www.flickr.com/photos/59678507@N02) is licensed under [CC BY-SA 2.0](https://creativecommons.org/licenses/by-sa/2.0/?ref=ccsearch&atype=rich)

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