The way I see it, when asking the question “What is an NFT?”, you actually answer that for yourself.

NFT or Non-fungible Tokens has taken the world by storm. From Beeple who was the first NFT artist to sell his NFT artwork for a whooping $69 Million Dollars taking him to the top of the charts to Twitter Founder Jack Dorsey, who sold his “First Twitter Tweet” as an NFT for a staggering $2.9 Million dollars. This hype of NFT’s is not going to end any sooner and if you think you’re late in this game, there’s good news because the NFT market is just starting to grow and it hasn’t yet reached it’s fullest potential.

What is NFT?

NFT stands for Non-fungible Tokens, this means that each token is unique in its own way. The best way to illustrate this would be an example of a simple object you have at home right now, say your pair of shoes. For every pair of shoes someone buys there are basically two copies made because one copy goes directly into your closet to be worn while the other copy is kept safe in the box where all the buyers are supposed to put them after their purchase. So, you’re probably wondering how does that apply with NFTs? Well, let me explain to you what makes NFT so special!

Let’s say you buy that pair of shoes and when taking it out of the box you realized that somehow that shoe was printed in a way that your name, nickname or even picture was placed on the front side of the shoe. Now, this is where it gets interesting because these are all considered NFTs of a specific type of token called “Non-fungible Token”.

NFTs have many of the same qualities as trading cards, with a unique twist. It’s not possible for an individual to trade their NFTs with other people but it does mean that each token is one-of-a kind and has high value because there isn’t anything else like it on offer in this world right now!

When you “mint” an NFT, it is tied to or represents one of many digital assets. These could be anything from original artwork and paintings all the way up to music videos or even collectibles like retro arcade games! When this happens, users get decide what kind will turn into their new crypto token- which stores information in blockchain as well so that no matter where we are when looking at our phones today (or tomorrow!), they’ll still have access through these tokens stored within them.

When you “mint” an NFT, it is tied to or represents one of many digital assets. These could be anything from original artwork and paintings all the way up to music videos or even collectibles like retro arcade games! When this happens, users get decide what kind will turn into their new crypto token- which stores information in blockchain as well so that no matter where we are when looking at our phones today (or tomorrow!), they’ll still have access through these tokens stored within them.

How to Find the Rarity of NFTs?

Cryptopunk NFTs are becoming more and more popular with every day that passes, but how can you spot a Cryptopunk project before it even has been released? Well luckily for us the answer to this question has come in the form of Rarity Tools. This free tool makes checking rarities quick and easy which will ultimately save time when investing into these unique cryptocurrency assets!

Rarity Tools is exactly what it sounds like, a tool that helps you find the rarity of an NFT. The score will be explained in more detail later but for now take note at how this works! It’s pretty sophisticated as well so make sure to keep reading if your interested.

The CryptoPunk image is currently worth $17 million dollars. With such a high Rarity score, it’s no wonder that this character has become so popular among Ethereum enthusiasts! You can find more information about the properties of NFTs in our post “What are Non-Fungible Tokens?” To see how your favorite crypto punk compares with others on CoinScores’ list from top 500 projects ranked by their rarity scores go to All Collections and pick one at random; or check out entire rankings if you’re interested enough (they’ve got over 400).

We all know that the rarest and most valuable NFTs can be found in CryptoPunks. But what about those who rank below them? You’ll find out if you click on any project, say “VeeFriends” for example! In this new scraping application created by me (the writer), every single one of these top performing projects will show up with their current value as well as how likely they are to rise even more over time – based off our analysis from last year’s market temperatures plus predictions going forward.

Categories: Collectibles

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