A Beginner’s Guide to NFTs and the Marketplaces Powering Them
The concept of digital ownership has been around for over a decade, but it wasn’t until 2021 that NFTs truly exploded into the spotlight.
That year, a digital collage by artist Beeple—composed of thousands of daily creations—sold for an astonishing $69 million at Christie’s. Suddenly, everyone wanted to understand what these mysterious tokens were and why people were spending millions on them.
Yet NFTs didn’t just appear overnight. Their origins can be traced back to early experiments on the Bitcoin blockchain. Back in 2012, developers proposed “Colored Coins”—an idea aimed at representing real-world assets digitally. Although Bitcoin’s limitations made this vision difficult to realize, it planted the seeds for a revolution. Two years later, the first true NFT, titled Quantum, was minted by Kevin McCoy. Ethereum soon emerged as the ideal environment for NFTs, thanks to its flexible smart contracts, and from there the space took off.
So, what exactly are NFTs? And where do you go to explore, buy, or sell them? Let’s break it down.
What Exactly Is an NFT?
NFT stands for non-fungible token—a digital certificate of ownership for a unique item. Unlike cryptocurrencies like Bitcoin or Ethereum, which are interchangeable, NFTs are one-of-a-kind. Each NFT is tied to a specific piece of content—artwork, a music file, a digital collectible, or even a virtual piece of real estate—and it can’t be swapped like-for-like with another token.
Think of NFTs as digital deeds. They prove that a particular digital item belongs to a specific individual, and that record is stored securely on a blockchain.
Exploring NFT Marketplaces
NFT marketplaces are platforms where people can trade, showcase, or even create their own tokens. These are not your typical crypto exchanges; they’re built specifically to handle the unique demands of NFT ownership.
To get started on an NFT marketplace, you’ll typically need three things:
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A Crypto Wallet: It must support the blockchain your NFTs are based on (e.g., Ethereum wallets like MetaMask).
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Some Crypto Funds: Make sure your wallet is loaded with the right coin—usually ETH for Ethereum-based platforms.
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A User Account: Most marketplaces require you to link your wallet and register before participating in any transactions.
How These Platforms Function
Once you’re signed up and connected, there are a few key actions you can take:
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Buying NFTs: You can either buy at a listed price, place a bid in an auction, or make an offer the seller can accept or decline.
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Selling NFTs: If you’re listing an NFT, especially one you’ve created, you’ll upload the file, choose your pricing model (fixed or auction), and wait for the platform to approve it. Once a sale is made, ownership transfers to the buyer through the blockchain.
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Minting NFTs: This is the process of creating a new NFT. Ethereum remains the most popular network for minting, and you’ll need a wallet that supports ERC-721 tokens. Platforms like OpenSea, Rarible, and Mintable make this process user-friendly, often with a “Create” button to guide you through.
Just keep in mind that minting typically requires gas fees, so having around $100 in your wallet can help cover the cost.
NFT Content and Themes
NFTs have unlocked a new era of digital creativity. Whether it’s a meme, a music track, or an animated short, nearly any digital creation can be tokenized. This flexibility has given rise to themed NFTs of all kinds—from Halloween collections to sports memorabilia, and even sets inspired by coffee or LEGO.
The variety is staggering, and for collectors, creators, and investors alike, there’s a corner of the NFT world for everyone.
Why It Matters
While it might seem like a digital trend, NFTs represent a shift in how we think about ownership, provenance, and value in the digital space. They’re still in their early days, but the foundations being laid now could define the future of media, gaming, intellectual property, and more.
Getting familiar with how NFT marketplaces work today might just be your gateway to the next evolution of the internet.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
