What is an NFT?
An NFT is a data-based digital asset that acts as a unique certificate of ownership for real-world and digital assets in the realm of music, the arts, computer games and video clips. Their unique attributes make them non-fungible, unlike other cryptocurrencies like Bitcoin, which all share identical attributes (like money) and are therefore interchangeable with all other bitcoins.
All on-chain NFTs (ones that have their metadata stored directly on a blockchain) are permanent and transparent, meaning that anybody can track the origin of an NFT, view who created it, who its current holder is, and how many times it’s been sold. Blockchain innovation ensures the authenticity and immutability of NFTs. These characteristics have led to massive tokenization of unique and rare assets like artworks, music, collectibles, and even properties into NFTs.
What are OpenSea and Rarible?
Non-Fungible Tokens (NFTs) have helped to power the crypto market to new highs in 2021, attracting enthusiastic collectors from both inside and outside the crypto space to the most popular marketplaces, OpenSea and Rarible.
OpenSea is currently the largest decentralized NFT exchange, hosting a wide variety of NFTs, including collectibles, games, and digital art on the platform. Rarible is considered the second largest on the market for NFT trading and in 2021, the platform introduced a free minting option to make the NFT space more accessible for the masses.
CoolWallet now supports the two largest NFT platforms
CoolWallet Pro currently supports in-app NFT trading on OpenSea and Rarible. Access these functions through the Marketplace page in the CoolBitX app: connect your wallet address directly without any complicated processes and you will be able to mint, buy, sell, or show off your NFTs with ease!